One of the UK’s top automotive financing companies, Close Brothers, recently sifted through its data to determine the most financed, and subsequently most popular vehicles in the country in 2020. And it found that the Ford Fiesta powered by the automaker’s 1.0L EcoBoost was the most popular vehicle in the country for those looking to finance a vehicle.
Despite the fact that a number of luxury vehicles landed in the top twelve list of the UK’s most financed vehicles, Close Brothers also noted that affordability was this year’s top concern among buyers, a factor influenced even further by the COVID-19 pandemic. Meanwhile, the second biggest concern was how economical a car is to run.
The Fiesta was followed by the BMW 320d, Land Rover Range Rover Evoque, BMW 520d, Ford Fiesta 1.25, Mini, Audi A4, Vauxhall Corsa, Fiat 500, Volkswagen Golf 1.6, Volkswagen Golf 2.0, and Audi A1 on Close Brothers’ list.
“In a year shaped by a pandemic and strict social distancing restrictions, drivers have still been able to get their hands on the car they wanted, said Seán Kemple, Managing Director of Close Brothers Motor Finance. “In fact, a newfound reticence to use public transport has shifted attitudes toward car ownership, a trend likely to grow even further in 2021.”
“Smaller models remain popular for drivers in 2020, with the Ford Fiesta taking another year as the people’s favorite, yet the Land Rover has crept up a place this year, perhaps a reflection of more families choosing a model that suits their needs this year,” Kemple added. “In 2021, the looming 2030 ban on new petrol and diesel models is likely to put alternative fuelled vehicles (AFVs) in higher demand as drivers make the switch to electric.”