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Car Finance Facts November

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Creditplus car finance facts: We take a look back at last month’s most popular cars, colours and stats. The end of the year is approaching and it has been another fantastic year for Creditplus. Take a look back at the penultimate month of the year.

 

As soon as the Halloween decorations were taken down, Christmas trees, music and adverts took their place. Yes, tis the season to be jolly once again, even as early as November! But the spectre of Christmas did little to put off car buyers, as new car registrations continued to grow.

Thinking of a new car for Christmas? Considering car finance? Creditplus can help you find the finance you need for the car you want. Contact us for an online decision on your lending options, so you can get set for the new year in a new car. Click here to apply.

Here are the Creditplus and car market facts for November.

Vauxhall Insignia

A new number one last month as the Vauxhall Insignia became the most popular car here at Creditplus. As seen in our car review, the Insignia makes for an excellent car for a professional looking to make a statement. Ford Fiesta and Focus were 2nd and 3rd most popular.

8.0%

New car registrations were up by 8.0% from the same month last year. 172,327 new cars were sold or financed, marking the 33rd consecutive month of growth that shows no sign of stopping.

38

On average, our customers were 38 years old. Looking at the year's stats, it seems the majority of our customers are in their late thirties. A sign of customers using their credit history wisely?

£11,598.66

We loaned an average of £11,598.66 to our customers in November.

Black

Black was once again the most popular colour choice by far. There was also one car purchased in Panther Black, but if you ask me what the difference between the two was, I couldn't tell you.

£1,193.61

Average deposit last month was £1,193.61. We finance customers with a variety of different deposit amounts, all depending on circumstances.

51

The average loan term was 51 months.

7,660

The Ford Fiesta dominates the UK car market, selling more than any other make. Last month 7,660 were sold. The Volkswagen Golf was a surprising second with 5,440 sold, with the Vauxhall Corsa  in third with 4,832.

2,310,237

Registrations for 2014-to-date reached 2,310,237 in November. Up 9.4% from this time last year, 2014 continues to break records with growth in the car section showing no sign of stopping.

*Source: The Society of Motor Manufacturers and Traders – Motor Industry Facts 2014

That’s it for November. Check back in January for December facts and a roundup for the year. You can look at how trends change across months by viewing previous car finance facts at the links below.

Car Finance Facts October

Car Finance Facts September

Car Finance Facts August

Car Finance Facts July

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