Welcome to car finance facts – a monthly breakdown of all the cars and data we’ve been financing here at Creditplus. What was the most popular model? What colour cars are our customers choosing? What’s the average term on a finance deal? Find out in our February Car Finance Facts.
Here are the Creditplus and car market facts for February.
|BMW 3 Series||
The number one most popular car here at Creditplus the BMW 3 Series was once again the most financed car for the month. Topping the charts for the whole of 2014, and 2013, read our review to find out why its so popular.
New car registrations were up by 12.0% from the same time period last year. 76,958 new cars were sold or financed. We have now entered the 36th month of consecutive growth.
On average, our customers were 38 years old. Across the year, our customers average around 37 to 38 years old. We can provide car finance from anyone aged 18 to retirement. This average is almost bang in the middle of that age range.
We loaned an average of £12,133.45 to our customers in February.
Black was the most popular colour choice...again. This doesn't include one car sold in Pearl Black. I thought pearls were white?
Average deposit last month was £1,047.32. We finance customers with a variety of different deposit amounts, all depending on circumstances.
The average loan term was 52 months.
Outside of Creditplus, the Ford Fiesta dominates the UK car market, selling more than any other make. Last month 4,096 were sold. The Volkswagen Golf was second with 3,177 sold, with the Vauxhall Corsa in third with 2,830.
Registrations for 2014-to-date reached 241,814 in February. Up 8.3% from this time last year, records continue to break as the car industry performs more and more strongly month by month.
*Source: The Society of Motor Manufacturers and Traders – Motor Industry Facts 2015
Apply for car finance today and you could be featured in our next car finance facts. Simply complete our car finance application form and you’ll soon be driving a fantastic new car.