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Personal loans used to finance cars

According to a new research by a leading banking institution in UK almost two out of every five personal loans are used to buy a new car.

Monday Jul 16, 2007

It seems that acquiring a vehicle is the most common reason for taking a personal loan. Wiping away your debt roll is a close runner up. These results are based on a new research that was conducted by a leading financial provider.

Conducted against a wide demographic and geographical zone, the research indicates the different spending habits in the various part of UK . It seems that the Scots are more likely to use personal loans for making home improvements. On the other hand residents of North-West England view a king size holiday as a good investment .

It comes as no surprise that personal loans are being used for car finance because the loan quotes offered by lenders are more competitive than the ones given by car showrooms.

Source: http://www.24-7pressrelease.com/view_press_release.php?rID=30676

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