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.