Fuel economy may not be main concern for car loans customersWhen taking out car loans for new vehicles, buyers are not overly concerned with fuel economy, recent research has suggested.
When taking out car loans for new vehicles, buyers are not overly concerned with fuel economy, recent research has suggested.
A study by Experian found, although running costs were an important consideration for 67 per cent of motorists, less than 20 per cent would be prepared to choose a model with a smaller engine.
This figure was even lower when it came to the proportion of drivers prepared to buy a more diminutive car altogether - at 16 per cent.
Kirk Fletcher, managing director at Experian, said: "Even when living through a downturn, there is still a reluctance to downgrade."
The poll also found women are more unwilling to downsize than men.
Some 18 per cent of the male motorists questioned said they would be prepared to go for a smaller car or engine when trading in their current vehicle, compared to 15 per cent of female participants.
In other news, a previous survey by Experian found less than 30 per cent of motorists go back to the dealer they bought their auto from for maintenance.
© Adfero Ltd
Posted by Edwin Miles on