Britons taking loans to buy new cars

Britons are very much enthusiastic in taking loans to buy their dream car, as reported by Sainsbury’s Bank. The index report gives an idea about the people who are in

[ClickPress, Mon Nov 06 2006] Britons are very much enthusiastic in taking loans to buy their dream car, as reported by Sainsbury’s Bank. The index report gives an idea about the people who are in queue for their dream car, which is more as compared to the last year’s index report.

London (adverse-credit-car-loans) November 01, 2006: Large population of Brits are showing their interest to buy a new car by taking loans such as personal loan, car loan, etc., according to a new research done by Sainsbury’s Bank.

The car buying index shows that almost eight million Britons are planning to get new cars on six month basis i.e., from September 2006 to February 2007. This data confirms that there has been a rise in 230,000 people from the last year’s index report.

The present data reveals that in the near future i.e., in the next six months, £70 billion would be spent on buying cars which is £6 billion more as compared to the previous year’s data index.

Steven Baillie, loans manager at Sainsbury’s Bank said that a third of people who want to buy new cars in the next six months would take the help of loans such as personal loan, car loan, etc.

He further added, “Given this growing trend for car purchases to be funded by loans, motorists must make sure that they shop around for a competitive rate as they could save hundreds or even thousands of pounds in repayments.”

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