According to car supermarket company Motorpoint, smart car buyers are beating the credit crunch by choosing deals that retain car value. Personal Contract Purchase has apparently become a more popular choice amongst consumers looking to pick up car finance deals.

Even as mortgages and personal loans are restricted, long-term savings possible in products like PCP could help hard-stretched motorists. The cost of driving continues to increase, with road tax higher and car insurance also more expensive.

A spokesperson for Motorpoint, John Gillespie, reportedly commented: A good PCP scheme enables a customer to budget precisely and means that market forces that the customer cannot control will not leave them out of pocket when they come to change vehicles .