Around 37 per cent of all personal loans taken out in the UK are used to fund a vehicle purchase, the latest figures from Alliance and Leicester have revealed.
With such a large percentage of personal loans going towards the funding of a car, consumers in the UK have been advised to shop around thoroughly when it comes to choosing a particular type of car loan .
Halifax Bank has warned car buyers to consider their options carefully before applying for a car loan to help finance a new car purchase.
Nearly half of all car loan applicants in Britain are aged between 30 and 49, with men making up just over two-thirds of that range, according to research from the Bank .
Neil Chandler, head of Halifax Unsecured Personal Loans, said: "Purchasing a new car takes a lot of time and thought as it is a big financial commitment."
"It is important to choose a finance deal which suits you best, leaving you free to sit back and enjoy your new car," he added.
Car Loans Make Up Nearly 40 Per Cent Of Personal Loans In The UK
Car Loans Make Up Nearly 40 Per Cent Of Personal Loans In The UK
Wed, 05 Sep 2007
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