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Britain's used car bill revealed |
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Wednesday, November 14, 2007
The amount of money motorists in the UK are set to spend on used cars over the next six months has been revealed.
From March to August 2007, £22.23 billion was spent on second-hand vehicles, according to Sainsbury's Car Loans.
The group is now expecting an extra 12 per cent to be added to the bill.
But the company commented that people are not doing enough research before committing to a vehicle purchase.
This comes despite the fact that good prior knowledge can see people cut costs and reduce the price of a car insurance policy.
"Despite the fact that haggling can save the buyer hundreds or even thousands of pounds, many of us are reluctant to do this," said Steven Baillie, head of Sainsbury's Loans.
Meanwhile, statistics from money charity Credit Action show that the UK has a total personal debt mountain exceeding £1.3 trillion.
Source: http://www.yesinsurance.co.uk/insurance-
media-centre/18351987/britains-used-car-bill-
revealed.html
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