Friday 1st June 2007
Although many people frequently utilise credit to fund various purchases, 62 per cent of Brits say that they are hesitant about borrowing and need to be persuaded, new research shows.
According to Alliance & Leicester, 50 per cent of borrowers with expensive store cards do not look to take one out, but simply do so when offered at point-of-sale.
When shopping for cars 42 per cent of people in the UK admitted to taking up a financial package from a dealer purely for reasons of convenience.
Only 12 per cent of borrowers research and plan their credit, using borrowing in an appropriate way to fund major purchases such as a property or car.
Richard Al-Dabbagh, Alliance & Leicester senior personal loans manager, says: "The research highlights how, despite good intentions, many people don’t give careful thought to how they borrow.
"Anyone who is paying over the odds for large purchases on costly store cards or expensive dealer finance, should look at how much they could save by moving to a low-rate personal loan."
|
Credit cards
A recent report by BDO Stoy Hayward has revealed that true extent of rising business fraud across the UK. The study has shown an alarming 74% rise over the last six months and signs that worse is... 
.gif)
