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All Press Releases for March 25, 2006 »
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Personal loans are in vogue for car purchase
According to a loan company, one out of every six people will reach out for a personal loan to buy a new car. Six million people are likely to buy a new car this year. In the survey majority of the people preferred to choose a car on the basis of its performance rather than environmental aspects. 
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    /24-7PressRelease/ - LONDON, UK, March 25, 2006 - One in every six people is likely to opt for a personal loan to buy a new car, according to a personal loan company.

In a survey by AA Personal Loans it was found that about 17 per cent would be applying for a loan in order to buy a car.

The survey says around six million people will buy new cars in 2006. But, when it comes to the preferences for purchasing a new car, most people were concerned about its performance, rather than about the environment.

Only 31 per cent said that they considered the environment when buying a car. A total of 53 per cent preferred the car's performance. Few people decide the purchase on the basis of a car's looks, with only 19 per cent saying that this was a key consideration.

Lloyd East, general manager of AA Personal Loans said, "Buying a car is amongst the biggest purchasing decisions people face, so it's well worth doing some research before you buy - not just the car, but how to finance it as well."

He added that motorists would often have a few thoughts in mind when choosing a new car but it was surprising that the environment wasn't higher on their list of priorities.
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