A recent survey has uncovered that 21 per cent of adults in the UK are planning on buying a car in the next six months.
Nine per cent of those questioned intended to purchase a new vehicle, which could equal around 4.3 million sales across the country as a whole.
The research, carried out by Sainsbury’s Bank, demonstrates increased activity by motorists and multi car insurance policy holders in the car market compared with six months ago when only 18 per cent intended to purchase a vehicle.
Steven Baillie, a spokesman for the company, told The Herald Scotland that, “The latest figures suggest that collectively, people are planning to borrow a total of £18.2 billion between September and February to finance new or second-hand vehicles.”
The study showed that men are more likely to make a purchase over the next six months, with 24 per cent set to buy a car compared with 17 per cent of women. These men are also twice as likely to opt for a new vehicle compared with female motorists.
Planned budgets also varied between the sexes, with men willing to spend an average of £11,948 on a car while women intend to spend £8,003. A further 35 per cent of men will fund their purchases through car finance deals compared with only 30 per cent of women who are willing to take out loans to buy a vehicle.
The research also uncovered regional variations in intended car buying habits, with 26 per cent of people in Wales planning on buying compared with 16 per cent of Scots. Residents of London and North West England are most likely to buy a new car, with around one in eight opting for this route…More at One fifth of UK motorists plan to buy a car| News Centre | Admiral …
By Niki Gear on September 24, 2012
Posted in General