Welcome to the Car Finance Facts post for October 2016. Here we provide an insight into the latest happenings in the car buying industry, both across the UK and here at Creditplus.

Low interest rates help drive steady growth in new car market

October witnessed steady growth in the new car market in the UK, after number-plate changes in September.

According to data obtained by the Society of Motor Manufacturers and Traders, 180,168 cars were driven off UK forecourts in October, with a growth of 1.4% in new car registrations. The market currently appears to be at a record high, with demand rising 4.2%, largely thanks to fleet registrations.

Another reason why October continued to see growth was due to continuing low interest rates and affordable car finance agreements. Creditplus are pleased to be able to offer a range of car finance options for all customers, that will suit individual needs and circumstances.

Date sourced from SMMT October 2016 market report.

If you’re thinking about purchasing a new car, find out more about used car finance with Creditplus. We can provide finance for a new, nearly new or used car from any reputable UK dealership. You can also find thousands of fantastic cars in our huge car search database. Then, it’s simply a matter of completing our two minute application form and you’ll soon have one of our dedicated Customer Advisors working to find you the best finance deal.

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