AA Personal Loans: Second-hand car sales rise
www.moneynews.co.uk > Loans > AA Personal Loans: Second-hand car sales rise
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AA Personal Loans: Second-hand car sales rise
Fri 20th Feb 2009
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The loans provider reported that customers are now 62 per cent more likely to spend their loans on buying a second-hand or ex-demonstration vehicle than they were in March 2008.
Despite these cost-saving measures, the overall amount customers spend on car purchases has remained the same, suggesting that people are choosing more upmarket models.
Mark Huggins, head of AA Personal Loans, explained: "Second-hand car dealerships across the country are finding themselves having to offer higher value vehicles at lower prices to make a sale, with savings of almost a third on certain models."
He added: "Now is the time to spend the pennies if you want to get the car of your dreams."
This trend may be adding to the woes of car manufacturers, who are hoping to sell new vehicles. Recently, BMW announced that it would have to cut 850 jobs at the New Mini plant in Oxford.
Click here for more loans news
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Related News : AA |
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