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Planned spending on cars for the next six months has fallen to the lowest level in three years, according to new research.
Sainsbury’s Finance car buying index reveals the number of people planning to buy a car has also fallen by nearly one million.
Between March and August some 6.86 million people are intending to buy a car – and expecting to spend £47.5 billion – a fall of £11.1 billion on the last quarter. (more…)
Despite the announcement of the government’s UK car scrappage allowance the UK car industry is still looking at a very difficult short to medium term outlook. Aside from the fact that car sales in the UK have collapsed over the last 12 to 18 months there is significant concern that many car sales are funded by credit and finance available to UK consumers is still relatively expensive. (more…)
You should attain and keep a good credit rating. And to do that, you need to find out which credit rating you have and if it is not as good as it could be, you may use some months to improve it. Of course, those just starting out in the world aren’t liable to have much credit history. Get ready to line up your credit at least a year before you’re ready for that auto loan. The minute’s elapses and the answer from the credit manager of the auto dealership can be here any second - he has just initiated a credit check. Even if you have a top credit score, he can try to lock you in at a higher rate than necessary according to your credit report. Be aware though that the best rates are for customers with a high credit score. (more…)
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