This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

One in three motorists made car purchase in 2005

24 August 2006
According to new research from Halifax, around a third (33 per cent) of all private motorists in the UK bought a new or used car in 2005, which equates to nearly ten million cars changing hands or being newly registered.

Nearly one in ten motorists (eight per cent) purchased a brand new vehicle and one in four (25 per cent) purchased a used car.

Halifax's findings show that this means UK residents spent around £36 billion on cars last year, approximately 4.5 per cent of total disposable income - nearly £1,500 per household.

"Buying a car is probably the second biggest purchase you will ever make, after buying a house, so it is important to consider how you intend to finance this and choose a product most suited to your needs," said Ian Larkin, head of Halifax unsecured personal loans.

"With a Halifax unsecured personal loan, you'll have no monthly repayment for the first three months," he continued. "If you're buying a car, this will allow you to pay for other essential extras such as road tax, an MOT, and car insurance."

To read more about loans, click here.


track© Adfero Ltd