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Figures released today (Tuesday, 30th March, 2010) reveal that the number of people planning on buying a car has increased by 47% in the last six months. Those planning to purchase a brand new, used or pre-registration car up to August 2010 has risen from 5.14 million, for the six months before March 2010, to 7.56 million people now, according to Sainsbury’s Finance Car Buying Index, which tracks the number of people planning to buy a car on a six-monthly basis. Collectively car buyers anticipate spending £49.1 billion in the coming six months, a 25.9% increase on the previous six month spend, and the highest expected spend since September 2008. Despite the Government’s beneficial Car Scrappage Scheme closing at the end of March, the Sainsbury’s Finance Car Buying Index suggests a 24.2% increase in the number of people planning to buy a brand new car. However, motoring website honestjohn.co.uk has urged buyers of 4x4s, large family cars and people carriers to buy nearly-new to avoid being stung by the new ‘Showroom Tax’ charges that come into force on 1st April. Buyers of cars in Bands F-M can make really big savings if they are prepared to shop around and consider nearly-new instead of new.
As the recession continues to have an effect on consumers as they look to save money wherever possible, the average spend on a new or used car was likely to be under £6,500, the lowest average spend since March 2003. If you are looking to purchase a new or used car in the next six months, whatever the make or model one of the easiest ways to reduce your monthly outgoings and save money is to compare car insurance online.
Compare Car Insurance Online with Moneyexpert.com.
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