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Demand for new vehicles rising

Despite high interest rates, it seems that Britons' ardour for new cars has not been diminished, according to AA Personal Loans.

Research by the outfit found that in the last year desire for a new registration car has rise by 22 per cent.

A full 33 per cent of motorists stated that they are intending on buying a new vehicle in the next year, which is a rise of seven per cent on the same period in 2006.

Lloyd East, head of AA Personal Loans, said: "As interest rates rise, UK consumers are beginning to tighten their purse strings.

"But our research shows strong consumer demand for new registration cars ahead of September 1st. This suggests that reasons for buying a car are not only influenced by price at purchase."

Practicality and the environmental impact of their cars are becoming influential factors with drivers, Mr East added.

A personal loan is one strategy that could aid in the purchase of a new car.

The AA was founded in 1905.

Click here to see how much you could borrow with a Lombard Direct personal loan.

29/08/2007 17:00:49

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