Author: Robin Roberts

More than 33,000 people bought new cars using car finance in January, according to the latest figures from the Finance & Leasing Association. 

This was a 42% increase in the value of new car finance provided to consumers compared with the same period last year.

January is traditionally a slow month for sales of cars on dealer finance, and the increase on last January’s 27,000 cars bought on finance reflects the low-rate deals offered by lenders– many at 0% interest.

Motor finance providers are also accepting lower deposits from customers. In the last twelve months, 63.5% of all private new car sales were bought using motor finance.

January saw a total of 128,853 new cars registered, very slightly above 12 months earlier, and dealer finance has been slowly increasing as buyers opt to stretch their budgets as far as possible and take advantage of deals in showrooms.

Overall sales in 2012 are expected to be below the 1.92 Million of last year before picking up again in 2013.

Increasingly, buyers are looking to keep down their motoring costs and using a  car tax calculator  can help decide which model is best for your needs.

For business users, the emissions level is very important in setting BIK payments and there is a business  car tax calculator  available.