Car finance helps young get motoringYoung drivers are turning to car finance to help them cut the costs of buying their first car, new research has shown.
Young drivers are turning to car finance to help them cut the costs of buying their first car, new research has shown.
The study from Experian revealed that newly qualified drivers were particularly likely to buy a used car once they had agreed their car finance deal, helping bring down their costs further.
The majority of 18 to 24 year olds also said they'd do their research on potential cars online before making a choice, helping them to pick a car that's both reasonably priced and going to hold its value well.
"More car buyers are turning to cheaper, older cars, so it will come as no surprise that younger buyers are the most likely to go for an older model," said Kirk Fletcher from Experian.
"However, with older cars there are potentially more problems, so being able to buy one from a trustworthy source becomes more important," he added.
Car credit or car loans can be easily secured, even for younger motorists, making that dream of owning your first car close to becoming a reality.
© Adfero Ltd
Posted by Edwin Miles on