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New car purchases 'mean more car loans'

Over 400,000 new cars are expected to be ordered over the coming weeks, which should prove good news for the car finance industry.

Over 400,000 new cars are expected to be ordered over the coming weeks, which should prove good news for the car finance industry.

According to financial website This Is Money, hundreds of thousands of motorists will be placing vehicle orders ahead of the introduction of the '57' registration on September 1st.

The site also advises that the influx of new cars into the market means that many people will be looking for car credit to take advantage of the bargains to be had in the used car market.

One approved car finance customer told the website that struggling to cope with a Vauxhall Astra and a growing family assisted their decision to opt for a car loan.

When Donna and Iain Crump borrowed £4,000 they were able to purchase a more spacious Citroen Picasso to better serve their three children.

"We wanted to upgrade to a Picasso because it has individual rear seats so there is more room for the child and baby seats," said Ms Crump.

Last month DueMotori.com reported that the Citroen C4 Picasso had seen orders of over 10,000 and had received the Best MPV prize from Auto Express magazine.


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