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Car loans 'a popular choice for 30 to 49-year-olds'

More people opted to purchase vehicles using car finance last year in the 30 to 49-year-olds than any other age range, according to a recent study.

More people opted to purchase vehicles using car finance last year in the 30 to 49-year-olds than any other age range, according to a recent study.

A survey conducted by Halifax Unsecured Personal Loans (HUPL) found that around half of the car loan applications in 2006 were made by the age bracket with an estimated 21 per cent being made by 20 to 29-year-olds.

According to Easier Motoring, the study also found that last year's top model choice, the Ford Focus, saw around 2.3 million new registrations.

The number of used cars purchased in 2006 came to a total of 7.6 million of which the Focus also came top choice.

Neil Chandler, head of HUPL,said that for many buying a new car took a lot of time and represented making a serious financial commitment.

"It is important to choose a finance deal which suits you best, leaving you free to sit back and enjoy your new car," he said.

Earlier this week an AA survey found that 22 per cent of motorists will consider car finance when purchasing a new car.


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