Motorpoint
Credit crunch? What credit crunch! According to a new poll by Motorpoint over half of motorists plan to use finance to purchase their next car.
The new study by the UK’s leading car supermarket group found that 53% of drivers planned to use car finance to pay for their next car.
This news comes as newly published figures from the Finance and Leasing Association reveals that lending from motor dealers now funds 49% of all new private car sales. This is up by 2% from 2007.
This is borne out at Motorpoint, where demand for Boomerang has reached record levels. Sales for its Personal Contract Purchase plan are up 6% for the first half of 2008 as ever-increasing numbers of customers turn to Boomerang to fund the purchase of either a new or used car. Today, one in three cars sold by Motorpoint are done through finance.
The result is customers can drive a car that their budget would not have ordinary allowed. No wonder Motorpoints sales are up.
They also saved around 30,000 retail customers a total of £144m against the recommended retail prices to be found on franchised dealers’ forecourts – an average of almost £5,000 per car in 2007. Last year, the company also repeated its achievement of selling a car into every postcode area in the UK.
You see, despite the doom and gloom, there is always light at the end of the tunnel.
Jackie Violet - Female First