Buy a car on finance for the same price as an iPhone X
Auto Trader reveals the simple swaps you can make in your monthly budget to afford the car of your dreams
For the same price as an iPhone X contract, you could buy a car on finance
Give up your daily latte habit and you could drive home in a vintage Porsche Cayenne from £160 per month
Auto Trader’s car finance calculator shows what buyers can afford within their budget, starting from as little as £44 per month with no deposit
Car finance deals are becoming increasingly popular amongst prospective buyers in the UK, yet many consumers are unaware that through finance plans such as Hire Purchase (HP), Personal Contract Hire (PCH) and Personal Contract Purchase (PCP), they can drive away in a set of wheels for as little as £27 per month. To illustrate, Auto Trader, the UK’s largest digital automotive marketplace, reveals the lifestyle changes you can implement to make owning your dream car a reality.
According to a recent study, Britons spend on average more than £2,100 a year in coffee shops, forking out a massive £184 a month. If they were to put that money towards a car instead, they could be the proud owners of a swanky vintage Porsche.
With so many outgoings it can be difficult to imagine how you could afford the car you want. Erin Baker, Editorial Director at Auto Trader says: “Car finance deals have made car ownership a realistic prospect for many drivers, but it’s also increased choice across both new and used cars, surprising buyers with cars they may have first thought unaffordable and making it easier than ever for buyers to find their dream car.”
Even still, many people are overwhelmed by financial jargon. That's why Auto Trader has created its intuitive car finance calculator, enabling car buyers to search the UK's largest automotive marketplace based on their monthly budget for the very first time.
About Auto Trader
Auto Trader Group plc is the UK and Ireland’s largest digital automotive marketplace. Auto Trader sits at the heart of the UK’s vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 250 Index.
The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 88% prompted brand awareness and attracts an average of 55 million monthly cross-platform visits a month, with circa 70% of visits coming through mobile devices.
The marketplace also has the largest pool of vehicle sellers (listing more than 470,000 cars each day). Over 80% of UK automotive retailers advertise on autotrader.co.uk.
For media enquiries and further information, please contact:
Maria Hughes
Media Relations Manager
BlueGlass
Email: mhughes@blueglass.com
Telephone: 020 7242 0142
Images, a graphic, quotes and further information can be found on Dropbox
Notes to editors
Cars models/makes listed are subject to availability
Car prices are based on a monthly spend across a 36-month plan and £0 deposit