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Scot’s put off car finance by faltering economy

The new plate is out soon, and buyers hoping to get a good deal could be left feeling a bit short changed.

The new plate is out soon, and buyers hoping to get a good deal could be left feeling a bit short changed. The threat of a double-recession, below-inflation pay rises and possible job cuts are all doing their best to stop people buying cars.

Scotland is no better, according to Sainsbury’s Finance; almost 7.5 million people had planned to buy a new car in the last six months, which would have resulted in an economic boost of £49 billion.

However, they didn’t. And to make it worse, Sainsbury’s found that around a quarter of those people intended to buy their car with either car loans or car finance.

It’s unknown if this trend will continue, but at least this research shows that people are willing to spend their money in the motor industry, they just need the economy to help them out a bit.

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