Car loan availability `expected to rise`

By Matthew Plant - Financial specialist

Car loans are expected to become easier to obtain in the next year, according to finance experts Deloitte.

In a survey of UK manufacturers, Deloitte found that 62% expect credit availability to stay the same or improve over the next 12 months.

The news will be well received by people looking to buy a car on credit, says a car finance expert at Think Money.

"A lack of availability of car loans has prevented many would-be buyers from making a purchase over the past year or so, but this is changing. There are a number of competitive deals on offer at the moment, so car buyers may do well to move fast and take advantage of low rates while they can.

"But as with any borrowing, we advise people to only take out a car loan if they are positive they can afford all their repayments."

Tags: car loans, loans, Deloitte

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