Car loans could stretch further than a decade agoCar finance customers may be interested to hear that buying a new vehicle has "never been cheaper," according to Auto Express.
Car finance customers may be interested to hear that buying a new vehicle has "never been cheaper," according to Auto Express.
A survey conducted by the magazine revealed that motorists in the UK are currently paying an average 17.3 per cent less than they were 10 years ago on the most recent family cars.
The study looked at a number of entry-level models available in 2007 and put them up against their predecessors from a decade ago.
Inflation was taken into account and the cars were studied in comparison with the Retail Price Index (RPI) revealing that a number of models were as much as 35.6 per cent cheaper in today's market.
Renault's Megane was the best performer in the study with the Ford Fiesta and Vauxhall's Corsa and Vectra models also significantly cheaper by comparison to the cars of 1998.
The RPI is the guide used to measure levels of inflation and consumer pricing in the UK, the results of which are published on a monthly basis by the Office for National Statistics.
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