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Brits issued car loans advice
British consumers have been advised to consider their options carefully before selecting a particular kind of car loan.
August is among the most popular times of year for people to apply for a car loan and Halifax has made clear that it is crucial to look around for a good deal to help finance new car purchase.
Research from the financial services firm shows that close to half of all car loan applicants in the UK are aged between 30 and 49, while just over two-thirds are men.
Neil Chandler, head of Halifax Unsecured Personal Loans, remarked: "Purchasing a new car takes a lot of time and thought as it is a big financial commitment.
"It is important to choose a finance deal which suits you best, leaving you free to sit back and enjoy your new car," he added.
Around 37 per cent of all personal loans taken out in the UK are used to fund a vehicle purchase, according to the latest figures from Alliance & Leicester.
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