The statistics show that a typical customer will apply for car finance between £5,000-£7,500
Manchester, UK (PRWEB UK) 16 October 2013
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 – show 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”.
- Carfinance247 customer data from Jan 2010 – September 2013
Emily Henshall, Marketing Manager, Carfinance247.co.uk, telephone: 0800 019 7180 or email: emily.henshall(at)carfinance247(dot)co(dot)uk
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.
Address: The Loading Bay
12-18 Pollard Street