Internet car finance broker carfinance247.co.uk have released their latest data relating to their used car sales and car finance applications during the last three years which show that spending during the first six months of 2011 is up on both the same period for 2009 and 2010.
• In 2009, the amount spent on used cars for the period January to June came in at just over £1.4m (this includes the deposit and car finance amount, including any bad credit car finance). The average deposit amount was £220.20 and the average car value £8,299.
• In 2010, for the same six month period, £1.3m was spent on second hand vehicles. The average deposit amount was £504.70 with the average vehicle value being £6,879.
• In 2011, from January to June, nearly £1.8m was spent on second hand vehicles. The average deposit amount was £727.91 with the average vehicle value being £8,853.
Director of carfinance247.co.uk Louis Rix, says: “The data highlights how, when compared to the same period over the last two years, so far this year, customers have not only spent more on second hand cars, but the amount they have used as a deposit has more than trebled since 2009.
“It appears that, as predicted by ourselves a few months ago, confidence in the economy is returning. Motorists appear to have more money to use as a deposit. They are perhaps feeling more financially secure financing a more expensive vehicle than they may have done this time last year.”
Louis Rix, Director of www.carfinance247.co.uk, on: 0845 129 5526 or email: firstname.lastname@example.org
Founded in 2000, carfinance247.co.uk is a privately owned business with offices based in central Manchester. We provide vehicle financing solutions for all financial circumstances such as hire purchase, personal contract purchase, contract hire and other leasing options. No deposit is required and we can supply and deliver any make and model of your choice.
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