The Mercedes-Benz A-Class has emerged as the car most likely to be purchased on finance, surpassing its popularity in search data, according to insights from AA Car Finance.
The analysis indicates a notable trend, with A-Class cars being 6% more likely to be bought on finance compared to the second contender, the Vauxhall Astra, and a substantial 36% more likely than the Ford Fiesta, taking into account the number of searches for each car.
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The data reveals that A-Class cars constituted 4.4% of the most popular vehicles acquired through finance in 2023, a significant increase from 3.3% in 2021. The model’s popularity in searches stood at 2.9%, suggesting that the A-Class is 52% more likely to be financed than its search popularity would suggest.
While the Ford Fiesta remains the most commonly financed car, representing 9.4% of the 30 most popular vehicles purchased through finance, the Mercedes-Benz A-Class’s higher proportion showcases the diverse preferences of car buyers when opting for financing options.
The Vauxhall Astra also stands out, being 46% more likely to be bought on finance than its popularity level indicates. The Ford Transits secured the third spot, constituting 5% of the most popular vehicles bought on finance, up from 3.8% in 2021.
In contrast, some models experienced fluctuations in their financial popularity. Kia Sportages witnessed a remarkable 60% rise, VW Golf saw a 41% surge, and the Vauxhall Vivaro experienced a significant 36% increase in finance purchases from 2021 to 2023. On the contrary, Vauxhall Astras recorded a 39% decrease in finance purchases, with Nissan Qashqais and VW Polos falling by 34% and 32%, respectively.
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By GlobalDataMark Attwell, Director at AA Car Finance, said: “Car finance is a great tool for drivers of every budget, and can mean the difference between getting the right vehicle for you, or having to settle for something below par.” He encourages potential car buyers to explore finance options and shop around for the best value, emphasizing the importance of securing the right vehicle through suitable financial arrangements.
