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

UK new car market soars to an all-time high

Reports published by SMMT show that the UK’s new car market grew by a staggering 8.4% in the month of March. With 562,337 new cars registered (more than double the number in the first 2 months of the year combined), March has been the biggest month since records began. Furthermore, there has been an increase of 6.2% in registrations in Q1 2017, bringing the total to 820,016 units – a new record for the quarter.

One reason for March smashing registration records was buyers seizing the opportunity to purchase cars before the new vehicle excise duty (VED) rates came into force. In line with recent trends, car buyers have been showing an increased interest in low-emission technology, with March seeing a 31% increase in alternatively fuelled vehicles.


Date sourced from SMMT March 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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