British drivers borrow £32bn to buy two million new cars | Daily Mail Online
Boom!
Households borrowed more than £30billion to buy cars over the last year, fuelling fears of another reckless debt binge.
Industry figures released yesterday showed £31.9 billion of consumer car finance was issued in the year to January – an 11 per cent increase on the previous year.
More than 6,300 new and secondhand cars were snapped up on credit every day - or 2.3million across the year.
In January alone consumers borrowed £2.3billion to buy cars, a year-on-year increase of 12 per cent.
Businesses took out a further £9.3 billion worth of finance to buy company cars, a rise of four per cent.
Industry figures released yesterday showed £31.9 billion of consumer car finance was issued in the year to January – an 11 per cent increase on the previous year.
More than 6,300 new and secondhand cars were snapped up on credit every day - or 2.3million across the year.
In January alone consumers borrowed £2.3billion to buy cars, a year-on-year increase of 12 per cent.
Businesses took out a further £9.3 billion worth of finance to buy company cars, a rise of four per cent.
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