According to Caxton FX, lower consumer confidence leads to wiser investment. They announced that, in contrast to the wider market, the number of their clients buying cars from abroad has actually increased during the past year.
A recent YouGov survey showed that big ticket purchases in the UK were down over 20% year on year, and a staggering 15% in the past month. But this does not necessarily mean that less people are purchasing automobiles from overseas, says Rupert Lee-Browne, CEO of Caxton FX:
“In the past year more people have bought cars from overseas with Caxton FX than ever before – an increase of 8% year on year. The wider market is down more than 11% year on year. This upturn at Caxton FX indicates that people are being more discerning when making their purchases.”
By using a specialist foreign exchange broker like Caxton FX individuals and businesses can save substantial sums of money on their foreign currency transactions, while maintaining financial protection.
MIA members can find out more about the foreign exchange services Caxton FX offer here.
