Car Finance Deals Boosts Consumer Demand for New Cars

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• Publié par: financeacar-co-uk
• Nombre de lectures: 19
• Langue: English

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Car Finance Deals Boosts Consumer Demand

for New Cars

PR Newswire

LONDON, June 28, 2012

LONDON

,

June 28, 2012

/PRNewswire/ --

Motorists using car finance to buy new cars has reached record levels and

personal contract purchase (PCP) continues to take the largest share of the

new car finance market (60 per cent of all dealer finance). New research

reveals that over 20 per cent of motorists would buy a new car in the next

three months, if they were offered low monthly payments on finance of up to

£200 per month and a discount on the list price of up to 30 per cent. This

compares to 7 per cent of motorists who are currently looking to buy a new car

in the next 3 months.

The recent independent research*, conducted by Finance A Car, the world's

first car finance comparison website for new cars, also reveals that a third of

consumers would buy a new car online if the deal had a very good discount and

if it was supplied and delivered by a main dealer, with the manufacturer's

warranty.(*Source: Redshift Research, 1,000 motorists).

Not surprising, the most popular finance payment option is monthly payments

of £99, with nearly one in four car buyers opting for this. However, these

customers are willing to pay a £1,500 deposit upfront to secure this low

monthly payment, which means that they can actually drive most city cars if

they have access to a good deal.

The research also shows that Londoners are most likely to replace their current

car with a similar new car if the monthly payments were the same or less than

what they are currently paying (one in four), followed by car buyers in the East

of

England

(19 per cent) and

Scotland

(18 per cent).

Nadim Saad, Co-Founder and Director of FinanceAcar.co.uk comments: "This

research shows there is a huge appetite amongst motorists for new car finance

deals. In fact, with the right discounts, potential demand for new cars

increases by 300 per cent from consumers who say they are already looking to

buy a new car in the next 3 months.

"Over the last year or so, there has been a huge growth in the amount of new

car finance provided to consumers. The recession has helped this growth, as

car finance offers new car buyers more flexible, low-cost and affordable

finance options.

"At FinanceAcar, we aim to help motorists buy new cars, by making it more

affordable through unbeatable low monthly repayments. We have removed the

need for new car buyers to shop around for the best price and finance deal, as

our website combines the deals for both, in one unbeatable low monthly price."

About FinanceAcar

Finance A car (http://www.financeacar.co.uk) is a UK online car marketplace. It

was voted by Seedcamp (one of

Europe's

largest groups of tech investors) as

one of the top 10 startups in

Europe

in 2010 and is a Microsoft "Startup of the

day" company. It is the UK's first car finance marketplace and it enables car

buyers to choose their new car, compare millions of monthly prices from

dealers and top UK finance companies, apply for finance, and, once approved,

have the car delivered to their door.

Media contact:

Nadim Saad, 0800-043-1340, Email: [e-mail]