Cars and finance

The car market heavily depends on the finance sector, now a day no one buys a car for cash. They either use car finance packages or a personal loan. Bearing this in mind when the financial crisis kicked in and consumer credit became difficult to get hold of the car market suffered as a consequence. Manufacturers realised that their dependence on 3rd party financial institutions was crippling their business and many set about creating “in house” finance solutions. Vauxhall was one of the early adopters of this approach and is reaping the benefits now. Vauxhall Stamford has now identified that car buyers need finance tailored to their individual needs, it is a case of “not one size, fits all”. To help their consumers Vauxhall has now created a finance package that the consumer can tailor to suit them and their budget. It consists of an online based calculator that helps the consumer work out exactly how much they can afford to borrow. Once the customer has specified a model online, they then input a deposit amount, which can be zero. The customer then simply moves the slider until the monthly payment figure and duration are as required. Peter Hope, Vauxhall's Marketing Director said, "We are delighted to introduce this highly competitive finance offer. Flexible Finance allows buyers to drive away a new Vauxhall on a bespoke, flexible monthly payment programme of their choice with the knowledge that they've bought the best car to suit their budget." Customers using the online finance calculator between now and the end of September will also benefit from a 0% APR offer.