Car loan customers have more choice than ever

Car loan customers have the biggest choice of vehicles in over two years, a recent report has shown. Statistics released by the Society of Motor Manufacturers and Traders (SMMT) document that 174,691 vehicles were built in April, meaning that even more models than ever are available to those considering using a car loan to finance a new vehicle. Of the 174,691 vehicles produced last month, 152,726 were cars while 21,965 were commercial vehicles such as vans and lorries. These figures represent the highest production of new vehicles in April since 1998, which is a very positive sign for car loan customers. It shows that, despite the credit crunch and general economic slowdown in other areas, the motor market has not been adversely affected. The demand for new cars remains as high as ever. This means manufacturers are upping their production, which keeps the industry healthy and opens it up further for car loan customers. Choice of vehicle is large and wide-ranging, and on the increase. Paul Everitt, SMMTs Chief Executive, said all manufacturers were successful during April, which provided welcome economic news during a "difficult period".