Consumers 'tempted by flash cars'

By Jonathan Dawes, Fri 30 May 2008 - Published in Breakdown Cover

Cars are increasingly tempting consumers to spend beyond their means, it has been claimed.

Research conducted by Experian has revealed that individuals are opting for new cars so they appear to be wealthy, even if they are not.

And even though the cost of living is increasing and crude oil price rises are increasing motoring costs, drivers are still opting for new cars that make them appear to have money, the research shows.

"The credit crunch is having a significant impact on consumer confidence across the UK, yet this survey highlights the fact that the consumer's desire for a car that projects the right image remains as strong as ever," said managing director of the automotive division at Experian, Kirk Fletcher.

Other findings indicated that image is more important to men than it is to women when it comes to cars, with some 18 per cent being tempted to get into debt to buy a car, compared to one in ten women.

Earlier this month, the organisation suggested that as the credit crunch worsens, the car market is likely to change, with larger cars becoming less popular.

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