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Car buyers hold off

Time 13 years ago

270407-a-mp.jpgA poll shows that nearly 70 per cent of them plan to delay changing their car.

And it’s the credit crunch that’s the root cause.

Car supermarket Motorpoint carried out the online survey, to which over 4500 people responded. It revealed that one reason for this shift in thinking is the plain difficulty in obtaining credit.

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While, by way of contrast, sales at Motorpoint are actually up, the supermarket says this is through people turning to its finance packages, rather than traditional lenders.

It runs, amongst others, the Boomerang PCP scheme from Blackhorse Motor Finance. Uptake of this has increased by six per cent so far in 2008. One in three cars sold by the company is done through finance.

All this indicates that buyers are out there – provided the deal is right, and that they can source the funds to finance it.

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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