Many Brits are building up debts to pay for new cars. Research from Sainsbury’s Finance has found a quarter of people planning on buying a car in the next 6 months plan to take out a car loan to cover at least part of the cost. Around half a million plan to take out loans to cover 100 percent of the cost, which could see them in the need to debt management advice in the future. Steven Baillie, Head of Loans at Sainsbury’s Finances says the figures provide “a great deal of optimism for the car industry”. Experts are warning that people look for the best deal possible to avoid debt problems in the future.
Brits building debts to buy a car
April 16, 2010 By
