Smart car buyers beating the credit crunch

Fri, 02 May 2008



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 ."
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