The credit union was named the most popular place to get a car loan, according to a new report by trading site, Done Deal.
Almost one third of those surveyed said they would use a credit union loan to finance their next car compared to 18% who would use a bank and just 7% who would opt for PCP.
(Of course, we knew already that the credit union really was the best place to get a car loan – but it’s great to see so many of you agree.)
The survey also revealed a huge surge in electric cars sales with just under 19,000 cars sold last year – a 68% increase from 2018. The most popular electric cars purchased were Nissan Leaf and then the Hyundai Kona. This year looks promising for the electric market also, with 26% of people saying they would opt for an electric or hybrid as their next car purchase.
As community based, non-profit organisations who care about the finanicial well-being of our members, we’re glad to see a growing caution around PCP lending, as well as the growth of the sustainably-conscious car buyer.
For more information on how much you might save by going electric, we’ve done all the maths for you in our blog here.
If you’re thinking of buying a car and need financial advice, or just want to have a chat, you can always send us an enquiry here.