BHF Finance has strengthened the hand of members buying vehicles in October by bringing loan rates for used cars and vans down to the same levels as for new ones.

New car sales have fallen to the lowest level since 1966 and only 63225 new cars were registered in Britain in August, a fall of 18.6% on the previous year. Orders taken by dealers have fallen off a cliff as a result of the credit crisis, a lack of consumer confidence and the impact of escalating fuel prices. Dealers are trying to shift new cars any way they can and this will hit the value of the second hand car market. October should be a good month for buyers of used vehicles, with dealers keen to shift trade-ins taken against new registration car sales in September.

The move follows the extraordinary success of the special summer promotion which featured typical APRs reduced by nearly 2%. The company stresses that as it does not raise its funds on the money markets but instead has cash ready and waiting to meet members’ borrowing, it is able to match very competitive rates with readily available funds.

Call the finance team on 0121 446 6688 or visit the website for further information at www.bhf-finance.co.uk/nmbsfinance  

For more information please contact:

John Collins, Financial Director, BHF Finance, 225 Bristol Road, Edgbaston, Birmingham B5 7UB
Tel: 0121 446 6688 Fax: 0121 446 5215