Booming share markets and property prices may be giving more Australian’s a greater sense of wealth however the nation’s debt culture is still in full swing.

When it comes to buying a new car more than one in two Australians seek some form of finance in order to buy the vehicle they seek according to a new poll by CoreData commissioned by CarsGuide.com.au.

The poll of some 1,357 people who are in the market for a new vehicle, revealed almost one in three people (27.6%) would take out a car loan, 16.8% would opt for a car lease while 10.6% of new buyers would refinance or draw on their residential mortgage.

The figures suggest that the consumer appetite for debt is still quite strong.

The figures may also reflect the increasing evidence of a two speed economy in Australia and the gap between the haves and the have-nots, as 41.8% of people would finance the purchase of a new car from their existing savings.

In terms of the value of the car the most common price range was between $20,000 and $40,000 With 41.3% of respondents seeking to purchase a vehicle priced within this band.

22.8% of people are seeking a vehicle between $40,000 and $60,000, 18.5% of people are seeking a vehicle between $10,000 and $20,000 while 7.9% are intending to purchase a vehicle priced at more than $60,000.