Loans

Despite further pressure on their personal finances, demand for new cars is rising among Britons, new figures reveal.

The majority of British borrowers have unrealistic expectations as to how long it will take them to complete making repayments on their debts, a new study suggests.

Consumers that are currently considering bad credit loans or have their money in a sub-prime mortgage may wish to look at their outgoings.

Many debt problems are caused by poor decision making, with taking on more debt to pay back what debt you already have not always a wise move, according to the free and impartial debt advice organisation Debt Free Direct.

With the launch of the new 57 number plates approaching, many UK consumers could be tempted to head to the country's car showrooms to buy themselves a new car, or look to make a bit of a saving by purchasing 07 plated models.

Some six per cent of Britons do not know how much debt their personal loan, credit card debts and other forms of borrowing adds up to, according to the latest research from Unbiased suggesting more than 2.5 million British consumers cannot quantify their total debt figure.

Britons could be placing increased financial pressure on themselves in an attempt to keep up with the Joneses, it has been reported.

Taking out a cheap loan to pay for some improvements to a garden could enable potential house sellers to raise the value of their home, with the aesthetic pleasure, privacy and protection offered by a well-developed garden often an enticing proposition for those looking to buy a property.

While overall borrowing in the UK may be on the up, people are succeeding in better managing their loans and other finances, one commentator has suggested.

British consumers returning from their holidays this summer may find themselves needing to compare loans as they find they are further in debt than anticipated, one personal finance commentator suggests.