According to a recent survey it is clear that most of the men are tempted to buy flashy cars and something which is ostentatious.
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.
Those looking for a competitive way to fund purchasing a fancy car, such as a Porsche 911 or Ferrari Enzo, may wish to consider taking out a low-cost loan.
David Kuo, head of personal finance at Fool, said: "Jokes are often made about flashy cars representing mid-life crises, but it's no laughing matter when one in six people say upcoming car purchases will be made on credit. If you have to buy a car then paying for it either partly or entirely from savings will greatly reduce your motoring costs. Every 1,000 pounds that you use from savings to buy your car will slash your total car finance bill by 275 pounds over five years. Using your savings to buy a car is a healthy way to overcome car sickness, which is the feeling you get when your monthly car loan instalments are due."
The survey also indicated that, a lot of drivers do not know the depreciation value of their vehicle and they always misjudge it. It is true that nowadays, value of every car will go down by upto 10% each and every year, said the Britons. But actually it will come down upto 15%, pointed out by Fool. Many people expect 6,193 pounds as the sale value for the vehicle which was 11,250 when they purchased. But in reality now it costs only 3,600 pounds after deductions.
With such a shortfall in regards to the impact of depreciation, taking out a low-rate loan might be particularly helpful to people looking to part-exchange their existing car for a current model. Such a loan not only may provide people with low-cost repayments to make each month, but could also lend a helping hand to drivers discovering they need extra funds to get their dream model. In 2007, a study by AA Personal Loans showed the number of Britons wanting to buy an environmentally-friendly car had surged to 20 per cent. Meanwhile, Lloyd East, director of personal loans at the firm, claimed that drivers wanting to get a vehicle should consider getting a cheap loan ahead of a showroom finance deal.
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.
Those looking for a competitive way to fund purchasing a fancy car, such as a Porsche 911 or Ferrari Enzo, may wish to consider taking out a low-cost loan.
David Kuo, head of personal finance at Fool, said: "Jokes are often made about flashy cars representing mid-life crises, but it's no laughing matter when one in six people say upcoming car purchases will be made on credit. If you have to buy a car then paying for it either partly or entirely from savings will greatly reduce your motoring costs. Every 1,000 pounds that you use from savings to buy your car will slash your total car finance bill by 275 pounds over five years. Using your savings to buy a car is a healthy way to overcome car sickness, which is the feeling you get when your monthly car loan instalments are due."
The survey also indicated that, a lot of drivers do not know the depreciation value of their vehicle and they always misjudge it. It is true that nowadays, value of every car will go down by upto 10% each and every year, said the Britons. But actually it will come down upto 15%, pointed out by Fool. Many people expect 6,193 pounds as the sale value for the vehicle which was 11,250 when they purchased. But in reality now it costs only 3,600 pounds after deductions.
With such a shortfall in regards to the impact of depreciation, taking out a low-rate loan might be particularly helpful to people looking to part-exchange their existing car for a current model. Such a loan not only may provide people with low-cost repayments to make each month, but could also lend a helping hand to drivers discovering they need extra funds to get their dream model. In 2007, a study by AA Personal Loans showed the number of Britons wanting to buy an environmentally-friendly car had surged to 20 per cent. Meanwhile, Lloyd East, director of personal loans at the firm, claimed that drivers wanting to get a vehicle should consider getting a cheap loan ahead of a showroom finance deal.
About the Author:
Stuart Pike is a proud owner and a financial broker of UK. He has built a number of successful websites and "Home Improvement Loan" is the website which will provide you cheapest loans available for your different requirements.
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