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Image conscious people are 'tempted' by cars they cannot afford
30/05/2008 17:48:00
People who are concerned about their image are tempted to put themselves into debt in order to buy the latest car.
According to a survey by Experian, people are more likely to be lured into debt in the car showroom, with men likely to get drawn in then women.
It also showed a third of adults admit they are influenced by how people perceive them leading to more wanting an up-to-date car model.
This leads to more people buying a model they cannot afford in order to give the impression they are wealthy.
Kirk Fletcher, managing director of Experian's automotive division, said: "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."
It was revealed earlier this week that young people are relying on credit to fund their lifestyles, as they do not want to sacrifice their way of living.
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