Recent YouGov research indicates that one out
of every ten
motorists in the UK will reportedly hold off buying a
new car this year due to problems in the economy. The news
follows figures last week that indicate a 20 per cent slump in new
car sales in August, on figures from last year.
The
cost of fuel is understood to be putting many people off buying
a new
car, either with cash or
car finance .
Fuel consumption is a major influencing factor for many
drivers, as is make, model and
car insurance cost.
An
insurance expert at comparethemarket.com who conducted the
survey above, Jeremy Moll, reportedly commented: Most people
are becoming more frugal in light of the current
credit crunch, and many motorists will be looking to cut back
on spending during these tough times. One way of reducing running
costs would be to purchase a more environmentally-friendly car,
however, it is not always possible for everyone to do so. We can
all make changes to those every day necessities, such as car
insurance .
