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Fewer people set to buy cars

People in the UK are less likely to be splashing out on a new car this year, according to new research.

Throughout 2008, five per cent less people are planning to buy a new car compared with last year, a new study from the AA reports.

Consumer confidence in the economy has dipped as a result of the current economic climate, the survey suggests, as those drivers planning on buying a new car intend to spend less.

"Faced with rising costs including fuel - for example the cost of unleaded petrol is now 102.8p per litre compared with 87.5p this time last year - car buyers seem to be shopping around for a more economical way of buying a reliable car," Mark Higgins, head of AA personal loans, commented.

More people will be looking to buy a car with a personal loan, Mr Higgins added, with used cars becoming more appealing.

Other research from the insurance company suggests that people are more likely to trust a female car salesperson than a male.

See how much you could borrow with a car loan from Lombard Direct.

© Adfero Ltd

14/02/2008 14:20:34

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