More drivers choosing Contract Hire schemes

December 8, 2014

More car drivers than ever are heading towards to defer part of their value to reduce their monthly payments.

The latest figures of finance and leasing association(FLA) shows 14% growth in new car finance in October 2014 compared with the same month of last year, while consumer used car finance volumes grew by 9% over the same period.

The overall car finance market has boomed in the last two years. In the year running to October 2012, over £9 billion was financed, rising to £11.7 billion the year after 2013 and almost £13.9 billion in the most recent figures.

The business and personal finance schemes becoming simple and economical solution for car drivers that now bit hard to buy the brand new car worth of £30,000.

To drive a brand new car on fixed monthly low hire schemes sounds more practical and wise solution instead to drive five or six years old car as these old cars required lots of regular maintenance. And at the end of the day there is not much fun to drive as a brand new vehicle.

NEW CARS SALES ON THE UP

Here, let’s take a look the  recent statistics of new cars sales up – with total 173,327 new vehicles have been registered in November 2014 month which has been 8% rise compare to November last year, the SMMT(The Society of Motor Manufacturers and Traders) have  said.

Significantly, the ratio of electric cars and other alternatively fuelled vehicles among the new registrations grew from 1.5% in November last year to 2.8% in November this year.

Take a look the best selling models in November 2014 –

  1. Ford Fiesta
  2. Volkswagen Golf
  3. Vauxhall Corsa
  4. Ford Focus
  5. Volkswagen Polo
  6. Nissan Qashqai
  7. Vauxhall Astra
  8. Nissan Juke
  9. Audi A3
  10. Mercedes-Benz C Class 

The family hatchback always being very popular among the car drivers and we can see that from statistics.