Over £20 billion spent on used cars in 6 months, says credit card provider
Credit card provider Sainsbury's Finance has revealed that over £20 billion will be spent in the UK on second-hand cars in the six months leading up to August.
Over £20 billion spent on used cars in 6 months, says credit card provider”
Credit card provider Sainsbury's Finance has revealed that over £20 billion will be spent in the UK on second-hand cars in the six months leading up to August.
According to the credit card provider, 10% of adults in the UK intend to buy a second-hand car during this time.
This will be a 12% decrease on the number of people wanting to buy them in the six previous months.
Sainsbury's Finance suggests that the figures indicate that there are fewer buyers with less money to spend.
Steven Baillie, head of Sainsbury's Loans, advised people to do their research before buying or selling a second-hand car.
"Homework is key to confidence here; if you know what you should be paying you'll be able to haggle more effectively", he said.
Sainsbury's Finance offers a credit card with 0% on purchases made at Sainsbury's for the first 12 months.
Credit card holders will also receive 0% on all non-Sainsbury's purchases for the first two months from opening the account.
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