Women Save Well For A Car
British women are more likely to dip into their savings when purchasing a new car than men.
British women are more likely to dip into their savings when purchasing a new car than men.
A new study by AA Savings reveals that 37 per cent of motorists in the UK planning to buy a new car expect to use savings, up by a third since January this year.
A poll by the motoring group found that women were 14 per cent more likely to rely on cash they had saved rather than loans, investments or current account funds. The number of women planning to use savings to purchase a new vehicle has soared from 21 per cent at the start of the year to 40 per cent.
"It's clear from these findings that women are thinking well ahead by saving for their next car," said Lloyd East, AA Savings general manager. "Men are more likely to cash in investments or use funds in their current account."
New number plates are released in September and UK motorists are expected to spend £60.7 billion on cars following the change. Figures from uSwitch.com show that more than 415,000 new cars were sold after the launch of the new registration plates last year, with almost half (45 per cent) made using credit and loans.
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