Good loan rates can facilitate car purchases, says AA

People are less inclined to buy cars than they were a year ago, a new study observes.

The poll by AA Personal Loans also discovered that those Britons who do buy cars are spending less on their vehicles than the average in 2007.

There are five per cent fewer people planning to purchase motors than there were this time last year, the poll discovered, with the remaining prospective vehicle investors planning to spend an average of £8,851 compared to £9,827 in 2006.

More people are considering used car purchases too, with the poll identifying a rise of 25 per cent in the number of Brits considering such a buy – from 36 per cent to 45 per cent.

“A third of buyers finance their car purchase with a loan, so it’s important they shop around for the best loan rate too,” notes Mark Huggins, head of AA Personal Loans.

Research from Admiral reveals that people with more than one car are 22 per cent less likely to be involved in an accident.

© Adfero Ltd

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