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Vauxhall the most popular choice for used car buyers says car finance specialist

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Carfinance247 – the online car finance specialist – has released its latest data which reveals insights in to their average customer, as well as differences across age groups and genders.

The statistics – taken from the last three and half years – shows that a typical customer will:

  • apply for car finance between £5000 - £7500;
  • have a deposit of up to £500;
  • require a loan over 48 months.

The data also shows that overall, the most popular make and model of used car bought on car finance is a Vauxhall Astra. There are, however, gender differences, with the Ford Ka being the most favoured by lady motorists over males, and the Peugeot 4007 being more favoured by males over females.

Age-wise, there are also differences, with trends among certain age groups:

  • 18-26 year olds typically choose a Volkswagen or a Mini;
  • those aged 27-38 prefer an Audi or a Nissan;
  • 39-50 year olds favour a Kia or a Mitsubishi;
  • motorists in the 51-56 age band prefer a Toyota;
  • those aged 57+ typically choose a Ford.

Emily Henshall, Marketing Manager, at Carfinance247 says: “It is interesting to see that people, while still funding cars with finance, are borrowing over a shorter time frame. Most personal finance tends to be over 60 months or 5 years, but our customers are borrowing over 48 months or 4 years, so they are saving themselves money in interest payments”.

Ends

* Carfinance247 customer data from Jan 2010 – September 2013

Contact:

Emily Henshall, Marketing Manager, Carfinance247.co.uk, telephone: 0800 019 7180 or email: emily.henshall@carfinance247.co.uk

About us:

Founded in 2000, carfinance247.co.uk is a privately owned business with offices based in central Manchester. We provide vehicle financing solutions for all financial circumstances such as hire purchase, personal contract purchase, contract hire and other leasing options. No deposit is required and we give you the choice of buying any car from any dealer nationwide. Or, if you prefer, we can supply and deliver any make and model of your choice.

Tags:

carfinance247 car loans Vauxhall Astra popular cars

Quick facts

A typical Carfinance247 customer will: • apply for car finance between £5000 - £7500; • have a deposit of up to £500; • require a loan over 48 months.
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Age-wise, there are also differences, with trends among certain age groups: • 18-26 year olds typically choose a Volkswagen or a Mini; • those aged 27-38 prefer an Audi or a Nissan; • 39-50 year olds favour a Kia or a Mitsubishi; • motorists in the 51-56 age band prefer a Toyota; • those aged 57+ typically choose a Ford.
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Quotes

Most personal finance tends to be over 60 months or 5 years, but our customers are borrowing over 48 months or 4 years, so they are saving themselves money in interest payments
Emily Henshall, Marketing Manager, at Carfinance247