Car sales in the UK grew for the 27th month in a row in May, new research has revealed.
The new figures from the Society of Motor Manufacturers and Traders, published in the Financial Times, reveal that the new car market has been growing month-on-month since March 2012. And the reason? Some analysts believe it points to the renewed confidence of customers following the credit crunch.
Old and new
It’s not only new car sales – which have had their most continuously high growth since the 1980s – that are proving popular either. Separate figures released by the Finance & Leasing Association reveal that the used car finance market demonstrated growth of 9% during April, compared to the same period last year. Meanwhile, new business for new car finance rose by 4%.
Whether you’re after a brand new set of wheels to drive straight off the forecourt in or a second-hand bargain, it would appear you’re not alone. These figures suggest that now could be a popular time to be vehicle shopping.
What’re you after?
For many households, a car is something they simply cannot cope without. Whether you use it to commute to work, ferry the kids around or do the weekly shop, it’s more than just a flashy set of wheels to look good on your driveway.
Because of that, there’s a lot to consider when you’re thinking of buying a car. Just a few of the questions you might ask yourself are what engine size it has, how many doors there are, how many people you can fit in it, what the efficiency is like, how safe it is, as well as what it looks like. And then you have to think about the price and what you can afford to pay for it.
Ocean can help
Ocean Finance provides a couple of alternatives for people considering purchasing a new car. Our car finance service offers customers between £2,000 and £20,000 to spend on a new vehicle, at a rate of 19.9% APR representative. Our hassle-free service is quick, simple and stress-free.
Alternatively, you could consider one of our unsecured loans. These are available from £1,000 to £15,000 with a starting rate of 11.9% APR representative.
Both Ocean’s car finance service and personal loans are designed to help people with a range of credit histories, so whatever your circumstances it might be worth checking out what we have to offer.
Read more about our personal loans for bad credit.
Disclaimer: All information and links are correct at the time of publishing.