12:48 am, February 7, 2011
A SURVEY by Oracle finance has found that 2010 saw an increase in buyers funding sports and prestige cars.
Oracle Finance has revealed an increase in the number of prestige and sports cars being financed over the course of 2010 amounting to an increase of 11 per cent in comparison to 2009.
The prestige car finance specialist believes this upturn is a strong indicator that buyers in the luxury car bracket were keen to take advantage of low interest rates and excellent vehicle finance deals without the burden of paying for a vehicle outright.
The firm also believes that the upturn is also due to the reduced rate at which luxury vehicles depreciate in comparison to lower value and lower spec models.
Peter Brook, managing director at Oracle (pictured), said: ‘Although the challenging economic climate has generally slowed spending on luxuries, we have continued to see a high demand for prestige vehicles.
‘We have formulated arrangements and partnerships with the leading lenders in the UK and internationally, which allows us to provide the finance packages to meet our customers’ needs. As we aren’t affiliated to one car brand we tend to have a very savvy clientele who view finance as a separate transaction to purchasing a vehicle, thereby sourcing the best quotes available.’
