Car buyers more likely to go for a second hand car or an ex-demo model

According to the latest Car Purchase Index (CPI) by AA Personal Loans, around two-thirds of car buyers will now buy a second hand car or an ex-demo model rather than a brand new car.

Despite the recession, the CPI indicates that the amount being spent on average is about the same.

Consumers however recognise they can currently get better deals in the second hand car market and get a better vehicle for the same amount of money.

Head of AA Personal Loans, Mark Hugguns, said ‘The credit crunch has turned into a recession which means consumers are now looking to get even more value for money than before. As a result, second hand car dealerships across the country are finding themselves having to offer higher value vehicles at lower prices to make a sale, with savings of almost a third on certain models.

The Car Purchase Index is completed bi-annually by AA Personal Loans and is the biggest car buying trend in the car industry.

AA Personal Loans can be taken out for buying a car or indeed almost any purpose.

The credit is provided by AA Personal Finance Limited and there are preferential rates for AA members.