Female car shoppers `more likely to consider debt risk`

12 August 2008

Women thinking about buying a car are more likely to consider their personal finance and the overall costs than men, a new survey reveals.

A poll of British car owners by Experian found that the tax bracket and ability to finance the purchase are more likely to be higher priorities in the decision-making process for women.

Banking issues and unsecured loans were concerns for female car buyers; 40 per cent of women said the initial spend was an important factor compared to 33 per cent of men.

Almost half of the men surveyed were more likely to be won over by the make and model of a car and more men thought about the car`s reputation and how it will affect their personal image.

It was also found that female motorists are more likely to hold on to their final purchase for longer, with 69 per cent keeping a car for over three years.

Kirk Fletcher, managing director of Experian`s Automotive division, said older cars are more likely to have a history that could affect a person`s decision to buy it and that both sexes should ensure they protect themselves for peace of mind.

However, a recent Swiftcover survey revealed that female-friendly insurance deals are not competitively priced.

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