Women could be using the personal loan taken out to finance a car more competitively than men by purchasing a used vehicle at a lower price, new figures suggest.

According to research by Experian, price is the most influential factor for females when looking to purchase a second-hand motor.

And although women are reported to be more likely to have bought an older car and paid less for it than men, they are also found to carry out less checks into the background of a vehicle such as whether it has been reported stolen.

Kirk Fletcher, sales director for Experian’s automotive division, said: "Most male used car buyers tend not to take as many risks and are willing to pay more for the right make, model and brand.

"Women, however, are more concerned about finding a bargain and while they may carry out thorough research on a range of cars and offers that fit their budget, they are more likely to take chances with the status and provenance of the car."

A study by moneysupermarket.com revealed that those drivers choosing an environmentally-friendly insurance policy could see a higher proportion of their personal loan spent on cover.

The research suggested that ‘green’ insurance deals are some 44 per cent more expensive than standard policies.

Interfinancial providing you with breaking motor loans news.