News
Confused about car finance?
Buying a car this September with the new ‘60’ number plate? Looking to buy before the VAT rate goes up to 20% in January? September is always a busy month for the car industry as motorists seek out the best deals on new cars, but the range of finance products available can be confusing.
In June, over half (50.6%) of new cars were bought using forecourt finance from a dealer making it the most popular choice for motorists. But choosing how to buy a car from a motor dealership can be a daunting experience. www.FinancingYourCar.org.uk is an impartial guide for people wanting to learn more about the different types of finance available in dealerships so they are better informed when stepping into a showroom.
The Financing Your Car website features a finance calculator and a finance decider – a short checklist of questions about your general circumstances and how you plan to use your next car. It then suggests the best product to meet your needs, whether it is personal contract purchase (PCP), hire purchase, a loan or any of the other options.
The website now features a brand new “Dealer Directory” which directs you to the nearest dealerships that have passed the Finance & Leasing Association’s motor finance competence assessment – Specialist Automotive Finance (SAF). By seeking out an ‘SAF Approved’ showroom you can be confident that dealer staff will guide you through all of your finance options and find the best possible deal.
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Note to editors:
www.financingyourcar.org.uk is an impartial car finance website from the Finance & Leasing Association.
In 2009 Finance & Leasing Association members provided £72.5 billion of new finance to UK businesses and households. Almost £19.3 billion of finance was provided to businesses and the public sector, representing around a quarter of all fixed capital investment in the UK last year. £53.2 billion was in the form of consumer credit, including a third of all unsecured lending in the UK. And £16.5 billion supported the purchase of 46% of new car registrations in the UK.
For further media information, please contact:
Helen Saxon, FLA
T: 020 7420 9664 E: helen.saxon@fla.org.uk M: 07918 766 993