/24-7PressRelease/ - LONDON, UK, August 27, 2006 - A new research reveals that people are spending more money on car finance than any other loan. One personal loan in seven is a woman's application.
A new research conducted by Halifax revealed that the UK customers had spent more on car finance over the last ten years. The report confirmed a 50 per cent increase in the amount of money that many household put towards car finance.
The statistics revealed by Halifax stated that in total British families had spent 1,490.30 on their cars, which included car insurance and maintenance costs. Halifax indicated that the car finance costs included the cost of petrol, MOTs, and the price of the vehicle itself.
A further research by the bank revealed that many consumers were taking out personal loans to fund their car purchase, with almost 25 per cent of loans taken out by men were utilised for car purchase. Not lagging behind, one personal loan in seven was taken out by a woman to buy a new car for herself.
Ian Larkin, a representative of Halifax Unsecured Personal Loans commented that buying a new car was probably the second biggest purchase one would make after buying a house. He further added that it was important to consider how one intended to finance and choose a product suited to his or her needs.
Earlier this week, AA Savings revealed that women were more likely to save for a new car than men who tend to cash in investments and used loans to fund their car finance.
For additional information on the news, that is the subject of this release (or for a sample, copy, or demo), contact Webmaster, or visit http://www.ecar-loans.co.uk
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