The young driver walked into the Audi showroom and gazed at the gleaming new cars. They looked a million dollars, but unfortunately the 24-year old driver was unemployed and didn’t expect he’d qualify for a loan to buy a new model. He was wrong.
Within minutes, a salesman says he’s confident that a new Audi A1, worth more than £15,000, could be the young man’s. Spend £215 a month, for 48 months, and he can hit the road. And after a final payment of nearly £7000, the car is his for keeps.
Despite being unemployed, the process of securing a loan to own the car was predicted to be straightforward.
A salesman says not having a job won’t make any difference. He explains: “We drop it down to the finance company, they’ll do a credit check on you. It’s not a case of you not having a job today and having a job tomorrow. We just need to see what the finance company says.”
However, the young man was an undercover reporter for the Daily Mail. He was one of a team that visited 22 dealerships. And the findings were prompted the question: is it too easy to get a car loan? Continue reading
You’d be smiling too if you’d just avoided paying hundreds of pounds more in road tax
Drivers alarmed by the changes to VED road tax are believed to have fuelled a sudden surge in new car sales.
New road tax rules, which come into force this April, will make it much more expensive to tax many of Britain’s most popular cars.
During January, typically a quiet month of the year for new car sales, sales grew by 2.9 per cent. A total of 174,564 were snapped up, marking a 12-year high.
The Ford Focus was the most popular white car with 14,103 sold last year (Picture © Ford)
White cars were the most popular in 2015. But drivers who choose ice-cool white cars may see red when it comes to selling their motors on. White cars could lose their value quicker than other colours, according to used car experts. And drivers who pick green for their next motor are more likely to have it stolen or written off than if it’s in any other shade.
Of the 2.6m cars sold in the UK throughout 2015, more than a fifth were white. It was the third straight year that this has been the nation’s most popular paint colour, according to trade body the Society of Motor Manufacturers and Traders. The SMMT added that demand for white cars grew by 2.2 per cent in 2015. A decade ago, just one per cent of cars were ordered with the neutral tone. Continue reading
Now’s a great time to get a new car bargain with great deals on models such as the Volvo XC60 (Picture © Volvo)
There’s a new car sales boom and Britain’s automotive industry is in rude health. But while 2015 is on the way to becoming a record year for car sales, there are still plenty of bargains for new car buyers to snap up. Some experts are saying that new car buyers have never had it so good because car makers are competing so hard against one another in the bid to win new customers and keep existing owners loyal to their brand. Continue reading