Both Supply and Demand for Car Finance Set to Rise During 2010
The prospects for anyone hoping to purchase a new vehicle with the help of online car finance over the next year are looking increasingly bright, according to recent research.
Accountancy giants Deloitte have said that a study carried out at the start of the month revealed a great deal of optimism across the UK auto industry, with 62 per cent of car manufacturers convinced that the availability of auto finance will remain the same or improve over the coming year.
Commenting on the research, Deloitte UK manufacturing industry leader David Raistrick said that “the easing of available credit is very welcome, but there are no signs of complacency with manufacturers seeking other appropriate sources of finance where necessary.”
“Manufacturers have also proactively sought to limit their exposure to bad debt, with 65 percent increasing the frequency of customer credit checks over the past 12 months.”
The prospects of improved access to online car finance coincide happily with another study which shows that the demand for car purchase loans is set to soar over the next six months.
Research by Sainsbury’s Finance found that nearly 25 per cent of people who want to buy a car between now and September plan to use a personal loan to pay for it.
Among these respondents, around 457,000 said that they would be using the loan to pay for 100 per cent of the vehicle’s value.
Sainsbury’s Finance head of loans Steven Baillie said: “Overall, these latest figures should provide a great deal of optimism for the car industry.”
“Recent industry figures showed a significant rise in new car sales in February and our Index suggests that that trend – despite the end of the scrappage scheme – is set to continue in the coming six months.”
About the Author
Loans2drive are based in Sunderland and provide car fianance across the Uk. If you would like more news view there blog – http://www.loan2drive.co.uk
LH Loveless Silver Jubilee 7 car set in O Gauge
[affmage source=”clickbank” results=”2″]car detailing set[/affmage]