Wednesday 14th August 2013
Be Wiser Insurance
Despite the continuing economic downturn drivers in the UK are still out there replacing their cars and many are in fact buying new. However, there appears to be a disparity between the sexes as to how they choose to pay for their new car.
A recent survey released by a leading online car finance group has shown that women are twice as likely as men to use finance to fund a car purchase. The survey also showed that of those asked just over a fifth had bought a brand new car in the last 12 months.
It also seems that some UK motorists are still fairly affluent with almost a quarter of those that had paid for the car in cash claimed they earned more than £40,000 and were also more likely to be in the age range 30-39.
Other interesting figures to note include the fact that there are fewer new cars bought with only about a fifth saying they had last year, compared with a around a third previously. Older drivers, in the age bracket 50-59, were now the most prolific at using finance to buy a car, overtaking the younger 18-29 year olds who now said they had to borrow money from family and friends.

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