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| Car Insurance At A Premium As Buyers Return To Market | |
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Now really could be the time for young drivers to sort out their car insurance as consumers are returning to the car-buying market forcing increasing competition for cover. A survey of close to two thousand people by Sainsbury’s Finance has revealed that Brits expect to spend £51 billion on cars in the coming six months. As confidence returns to the car-buying punter, the expected-spend figure has risen over the £50 billion mark for the first time since the last quarter of 2007. That’s a lot of cash that’s going to be floating around in the car industry in the near future! Also up is the number of people who are thinking of changing cars in the next half year, with almost 1 in 5 thinking that the time is ripe for a trade. Three years back that stat was closer to 1 in 10. All of these potential new and used car owners will be looking to find cheap car insurance at around the same time. Steven Baillie of Sainsbury’s Finance said: “We have recorded an increase in the number planning to buy a brand new car, which is good news for the car industry as a whole as it would suggest that the end of the car scrappage scheme has not led to the feared drop-off in the number of customers wanting to buy a new car.” Baillie added that a further factor fuelling the interest in car-buying could be the planned rise in VAT next January which will raise the cost of buying. He thought that many people would try to buy in before that increase comes in to effect. Get in before the mad rush and sort out your young persons’ car insurance today. We have already compared the best deals around for students and young drivers for your benefit. Don’t put it off any longer – check out our selection of student car insurance deals now. |
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