FollowText.com » Business » Loans » Buying Fancy Cars: A New Trend Among Guys

Buying Fancy Cars: A New Trend Among Guys

by: StuartPike
Total views: 4 | Word Count: 440

A significant number of men are looking to buy flamboyant, flash-looking cars, a new set of research shows.

A study carried out by Fool indicates that many budding Jeremy Clarksons and Lewis Hamiltons want to purchase a vehicle that will turn the heads of passers-by and fellow motorists. Just under two-fifths (39 per cent) of males were revealed to desire such an automobile. Young motorists appear to be especially keen to get a showy set of wheels with 46 per cent of men between the ages of 18 and 25 wanting such a vehicle. Women are not being left stalling at the lights either, as 60 per cent of wannabe Fiona Leggates and Vicki Butler-Hendersons from the same age demographic desire such a car.

When people want to purchase fancy cars like Ferrari Enzo or Porsche 991, then they think of taking a low-cost loan.

Head of personal finance David Kuo, said, "People make jokes and laugh about showy cars which signifies mid-life crisis. But there is nothing to laugh when one among the six people are purchasing these cars though credit. When you are making purchase, then it is recommended to make a payment partly or entirely. This helps to reduce motoring cost. If you paid up to 1000 pounds at the beginning, you can slash your total car finance bill up to 5 years by 275 pounds."

The findings also indicated that many drivers misjudge the effect of depreciation on their current vehicle. At present the typical Briton thinks that their car goes down in value by ten per cent every year. However, in reality Fool pointed out that values diminish by 15 per cent a year. For those who spent 11,250 pounds on a car seven years ago it was claimed their automobile will now be worth 3,600 pounds, not the 6,193 pounds they were anticipating.

As depreciation amount will come down for almost 7650 pounds, then taking out low-rate loan will be the better option for the people who are looking to part-exchange of their existing car to purchase a current model. Taking such loan will helps drivers to discover the way to arrange extra funds to purchase their dream car and also provides a great opportunity for people to repay the loan with low-cost repayment each month. Apart from this, a survey conducted in 2007 by AA personal loans has said that 20% of the people of Britons expressed their view to purchase environmentally-friendly car. In the meantime, Lloyd East, director of personal loans at the firm, said that drivers who want to flashy cars or any vehicles should think about getting a cheap loan instead of showroom finance deal.

About the Author

Stuart Pike as a financial broker, has built several websites and built a blooming online financial business. If you want to apply for loans online NOW! Just visit the website "Personal Loan" and find the cheapest loan available for your personal requirements.

Buying Fancy Cars: A New Trend Among Guys

About the Author

More Articles from: Loans