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26/08/2003
Car buyers to spend £46bn in six months, says survey
According to the Sainsbury’s Bank Car Buying Index, which tracks the number of people planning to purchase a vehicle on a six-monthly basis, nearly 6.5 million people plan to buy a car between now and February 2004 – spending £46 billion, or £7,167 each.
The bank says that around a quarter of this, some £11.27 billion will be financed through loans. In terms of where people will purchase their cars, 60% will do so from car dealers and the bank is urging customers to haggle over the price because, with a brand new car, it claims savings of around £1,200 can be made per vehicle.
The previous index findings, which covered the period March to August 2003, revealed that the same number of people intended to purchase a vehicle but that the average individual spend would be £8,116, or collectively £52 billion, with 22% of this financed through loans.
Steven Baillie, Loans Manager, Sainsbury’s Bank, said: “There are two main reasons for a potential decline in expenditure, the first being a fall in car prices. Two years ago second-hand cars were around 20% more expensive, and prices for new vehicles in June 2003 were 1.3% lower than 12 months earlier.
“The second reason is that more motorists are planning to buy second-hand cars as opposed to brand new ones. Findings from the previous index revealed that 60% of motorists who intended to purchase a car said it would be second hand whereas the corresponding figure for the next six months is 66%.”
On a regional basis, the East Midlands tops the league with 21% of people intending to purchase a car within the next six months compared to only 2% in East Anglia and 8% in the South West.
(gmcg)
The bank says that around a quarter of this, some £11.27 billion will be financed through loans. In terms of where people will purchase their cars, 60% will do so from car dealers and the bank is urging customers to haggle over the price because, with a brand new car, it claims savings of around £1,200 can be made per vehicle.
The previous index findings, which covered the period March to August 2003, revealed that the same number of people intended to purchase a vehicle but that the average individual spend would be £8,116, or collectively £52 billion, with 22% of this financed through loans.
Steven Baillie, Loans Manager, Sainsbury’s Bank, said: “There are two main reasons for a potential decline in expenditure, the first being a fall in car prices. Two years ago second-hand cars were around 20% more expensive, and prices for new vehicles in June 2003 were 1.3% lower than 12 months earlier.
“The second reason is that more motorists are planning to buy second-hand cars as opposed to brand new ones. Findings from the previous index revealed that 60% of motorists who intended to purchase a car said it would be second hand whereas the corresponding figure for the next six months is 66%.”
On a regional basis, the East Midlands tops the league with 21% of people intending to purchase a car within the next six months compared to only 2% in East Anglia and 8% in the South West.
(gmcg)
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12 October 2009
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
Remortgaging Continues To Decline
The mortgage market is on two speed settings, as house purchase lending continues to recover but remortgaging continues to decline, according to the latest data released by the Council of Mortgage Lenders (CML). The number of house purchase loans in August (53,000) is down 5% from July but 29% higher than August a year ago.
20 October 2011
Jaguar Is Top Luxury Car, Says What Car?
The Jaguar XF has emerged as winner of the Executive and Luxury category in the What Car? Used Car of the Year Awards 2011. Commended by the judges as a 'seriously desirable and sophisticated car', the XF fought off strong competition in a highly competitive segment.
Jaguar Is Top Luxury Car, Says What Car?
The Jaguar XF has emerged as winner of the Executive and Luxury category in the What Car? Used Car of the Year Awards 2011. Commended by the judges as a 'seriously desirable and sophisticated car', the XF fought off strong competition in a highly competitive segment.
24 April 2013
Co-op Bank Purchase Falls Through
A Llyods Banking Group sale of 632 bank branches to the Co-op group has fallen through. It had been hoped that by buying the branches the Co-op would create a bigger competitor to the main high street banks. However, the continued economic downturn and tougher regulatory environment imposed on banks has been blamed for the collapse of the sale.
Co-op Bank Purchase Falls Through
A Llyods Banking Group sale of 632 bank branches to the Co-op group has fallen through. It had been hoped that by buying the branches the Co-op would create a bigger competitor to the main high street banks. However, the continued economic downturn and tougher regulatory environment imposed on banks has been blamed for the collapse of the sale.
10 February 2004
Up to 50 people feared dead after Iraq car bomb attack
Up to 50 people may have been killed and dozens injured after a car bomb attack in Iraq this morning, the BBC has reported. The massive explosion occurred outside a police station in the town of Iskandariya, a town around 25 miles south of the capital Baghdad.
Up to 50 people feared dead after Iraq car bomb attack
Up to 50 people may have been killed and dozens injured after a car bomb attack in Iraq this morning, the BBC has reported. The massive explosion occurred outside a police station in the town of Iskandariya, a town around 25 miles south of the capital Baghdad.
28 January 2005
Car thefts down but report seeks improvements
The National Audit Office (NAO) has reported a reduction in vehicle crime, but has warned that "further progress is still required" to improve the situation.
Car thefts down but report seeks improvements
The National Audit Office (NAO) has reported a reduction in vehicle crime, but has warned that "further progress is still required" to improve the situation.
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