Time for the Creditplus car finance facts. We take a look at last months figures to see how the industry is doing and how our figures reflect that. You can see which cars were the most popular, average loan length and even the colour most customers chose.
August was another busy month here at Creditplus. Like the motor industry as a whole, Creditplus showed some excellent signs, finding finance for a wide arrange of different vehicles at varying loan lengths and amounts. Have you been looking for a new car? Refused dealer finance? Creditplus can help you find the finance you need for the car you want. Why not fill out our application form for an online decision? Click here to apply.
In the meantime, here are the finance facts from last month.
The UK's most popular car, the Ford Fiesta was most popular last month here at Creditplus. It follows last months most popular the Vauxhall Corsa. Previous months were dominated by the BMW 3 Series so good to see some variety!
New car registrations were 9.4% more than this time last year. Total of 72,163 units, reaching the 30th consecutive month of growth. August is traditionally the quietest month of the year for new car sales, averaging 3% of the years total sales.
On average, our customers were 37 years old. This follows the trend across the year.
The average amount we loaned to our customers in August was £11,961.67.
None more black! Now entering its 13th month, it seems black is going to be the most popular colour for a long time to come.
The average deposit put down by our customers for their car finance this month was £1,420.19.
The average loan term was 51 months.
Matching Creditplus, the Ford Fiesta wass the most popular car in the UK for August. This month 4,657 Fiesta's were sold nationwide, 83,664 this year. In second place was the Ford Focus with 2,740, and the Vauxhall Corsa in third at 2,435.
Registrations for 2014-to-date reach 1,532,335 in August. That's a 10.1% increase on this time last year. 2014 is well on track to exceed last years total of 2.2 million.
*Source: The Society of Motor Manufacturers and Traders – Motor Industry Facts 2014 That’s it for this month. You can see how the trends have changed across the year by taking a look at the previous months info below. Car Finance Facts July Car Finance Facts June Car Finance Facts May Car Finance Facts April