Loans will apparently finance over half of all the new cars registered September 1st on the new style 60 number plates. Research by Uswitch.com shows that motorists keen to get a new car will be taking on further debt when splashing out on a new car. Loans and finance agreements for cars typically charge an APR of at least 10% and above will see the actual costs of the car rocket.
The Loan's interest will obviously cost the consumer along with the immediate drop in value of the car as it leaves the forecourt for the first time. Over £150 million pounds are expected to be spent this week irrespective of the doom and gloom spread weekly by the media of the "Credit crunch." Figures will now also not have included the scrappage scheme sales which helped the car industry last year. However number plates, bought well will never give you this problem of depreciation and remember that!