We anticipate many more car finance applications for greener and more fuel efficient cars to be made in the upcoming months.
(PRWEB UK) 26 March 2012
From 1 August, motorists will be paying as much as 4p per litre more for petrol and diesel at the pumps. The announcement, confirmed in the March budget by the Chancellor George Osborne, will see the rate of fuel duty rise by 3.02p per litre to 60.97p. With the addition of VAT the increase is 3.62p per litre.
The increase in fuel costs is likely to encourage many car owners to consider changing their vehicles for greener and more fuel efficient models. Car Loan 4U, one of the UK’s leading car finance websites has already noted a growing trend among motorists looking for more fuel efficient vehicles.
Comments Car Loan 4U Co-Director James Wilkinson:
“Since the beginning of the year we have seen considerably more interest among our car loan applicants for finance that is related to greener vehicles. The recent Budget announcement confirming a rise on fuel duty in August has only increased this trend. We anticipate many more car finance applications for greener and more fuel efficient cars to be made in the upcoming months.
“The truth is that old cars are more expensive to run; they often use up far more fuel to travel the same distance and are sometimes more expensive to tax and insure. Motorists looking to cut the cost of running a car are increasingly looking for new efficient cars that are far cheaper to run than older vehicles.
“For example, the new Audi A1 1.6 TDi has fuel efficiency of 74.3 mpg and carbon emissions of 99g/km2 and is in tax band A so it has free road tax. Not only is it a great new car, it is considerably cheaper to run than older gas-guzzlers.”
With various car finance options available for motorists, buying a new car has never made more sense. Car Loan 4U rates start from just 7.9% APR.
For your car finance needs, visit: http://www.carloan4u.co.uk.