Interest rate commentary | 1st February 2024
Ian Plummer, Commercial Director of Auto Trader, the UK’s largest digital automotive marketplace, commented:
Whilst the Bank of England interest rate stays flat, it’s all change in the car market with new car APRs falling and 0% offers now available - as well as the average 10% discount - on some new electric cars as manufacturers tempt consumers with lower cost access to electric. And in the second-hand market, APRs are on the up but there are still some great deals available, specifically when comparing electric and petrol counterparts: an electric three-year-old I-Pace is now on average over £80 cheaper per month than an equivalent F-Pace.
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