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Car Finance Facts | April 2017

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Welcome to the Car Finance Facts post for April 2017. Here we provide an insight into the latest happenings in the car buying industry, both across the UK and here at Creditplus.

Demand falls in the UK new car market in April due to new VED rates

It has been reported by SMMT that the new car market noted a rather large decline in the month of April. This follows from a remarkable growth in the previous month (March) due to drivers seeking to purchase their vehicles before the change in VED rates which came into force on 01 April 2017. During April, 152,076 new cars were registered, a -19.8% decline from 189,505 in April 2016.

A decrease in demand appears to be a trend across all boards, with registrations by private buyers, businesses, and large fleets all falling -28.4%, -21% and -12.3% respectively. Furthermore, petrol, diesel, and alternatively fuelled vehicles all saw a decline in registrations in April.

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Date sourced from SMMT April 2017 market report.

If you’re thinking about purchasing a new car, find out more about used car finance with Creditplus. We can provide finance for a new, nearly new or used car from any reputable UK dealership. You can also find thousands of fantastic cars in our huge car search database. Then, it’s simply a matter of completing our two-minute application form and you’ll soon have one of our dedicated Customer Advisors working to find you the best finance deal.

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