Creditplus Blog

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Car Finance Facts – November

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Every month we provide you with a round up of car finance statistics from the previous month. You can view statistics from the last few months by following the links below:

Car Finance Facts October

Car Finance Facts September

November is typically a slow month in the car finance industry, with people generally choosing to save their money to spend on Christmas essentials –  presents, food, travel and the like. Rumours (now confirmed) of the Autumn Statement revealed plans to freeze fuel duty and introduce a direct debit payment option for car tax by October 2014.

Here’s our pick of the facts from both our own raw data and official government data from November 2013.

BMW 3-Series

was the favourite car amongst our customers – they accounted for 11% of our finance agreements this month.

28%

 was the share of cars we provided finance for that were black.

12%

 was the share of car for which we provided finance that had an automatic transmission.

37.5

 was the average age of our customers in November

£10105.73

 was the average amount we loaned to customers in November

£38100

 was the largest sum we loaned this month

57.95p

is the price at which fuel duty has been frozen by the Treasury

1.67p

was the average drop in fuel prices from October to November

5%

 is the extra amount you will pay for your car tax if you choose to pay by direct debit (compared to paying annually.) Find out more about changes to the road tax system on our blog.

2.3%

was the increase in road traffic for the previous quarter (Jul-Sept) compared to the same quarter in 2012.

0.6%

is the estimated percentage of traffic on the roads in 2013 that did not pay valid VED (road tax)

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