Government 'needs to restore confidence among car buying public'

Mon, 06 Oct 2008
More needs to be done to encourage people to buy new and used cars, the RMI National Franchised Dealers Association (NFDA) has claimed.

The group made these comments after figures from the Society of Motor Manufacturers and Traders showed the number of cars sold during September has fallen 21.2 per cent compared with the same month in 2007.

The NFDA said it was down to the government to take action.

Director Sue Robinson stated: "For the economy to recover, interest rates must be cut, confidence needs to be returned to the banking system and consumers need to feel safe in their jobs."

She added a reduction in the interest rate would reassure customers and help business.

In the long run it would be good for the economy, she insisted.

Meanwhile, NFDA recently said it was an excellent time to buy a car as there were plenty of cheap deals and a range of finance packages to suit most budgets available.

To find the best deals around today visit Honest John best deals.ADNFCR-1081-ID-18812933-ADNFCR


Add a comment


Ask Honest John

Value my car

Amount to borrow
Sorry. The minimum loan amount is £1000
To pay back over

My credit score

Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93


60 monthly payments

Apply now

Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.

CarFinance 247 Limited is acting as an independent credit broker