While mobile banking and contactless payments are hot topics now, surprising data from car finance and dealer specialist carfinance247.co.uk reveals that only 14% of people would actually feel comfortable applying for finance via a mobile device.
An independent study asked: “Would you feel comfortable applying for car finance via a mobile device such as an iPad, mobile phone etc?”
- of the 14% of respondents who would apply for car finance this way, females are less likely to apply (9%) than males (16%);
- more than a quarter (27%) of those who said “yes” earn over £40,000 a year;
- those in the age bands 18-29 and 30-39 were most likely to use a mobile device for a finance application – double the amount of those in the 40-49 age group;
- 100% of those in the 60+ age group said they would not use a mobile device to apply for finance;
- 57% of all those questioned said they felt that mobile devices aren’t secure;
- 20% more of people in the 60+ age group were most concerned by security issues, compared to those in the age groups 18-29 and 30-39.
Louis Rix, Director at Carfinance247.co.uk, says: “It is surprising that with current technology being so advanced that people are still wary of applying for finance using a mobile device.
“Our customers can rest assured that however they access our service, whether from a PC or while on the go, their details will be very secure. We always put our customers’ interests first and having a robust system is key to this.”
*Independent research of 200 people carried out in October 2012 on behalf of Carfinance247.co.uk by Usurv.