New and used car drivers 'considering downsizing'

Oct 9 2008

Many new and used car drivers are considering downsizing the type of vehicle they drive, according to new research.

The study by Avis discovered that 58 per cent of respondents, some of whom may be car loan customers, are considering such a move.

According to the firm, the average family in the UK save as much as £7,792 per year by choosing to downsize their car and make use of vehicle rental when they require a larger vehicle.

It suggested switching from a large four-wheel drive vehicle to a smaller and more practical car could save a significant amount of money when road tax, value depreciation and other factors are taken into consideration.

A survey conducted by the RAC recently found that 16 per cent of those it surveyed are considering buying a used car rather than a new one to limit the amount of money lost through depreciation.

Nearer a quarter said they would think about switching to a smaller car or bike.

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