Families may want to take advantage of the benefits of car leasing schemes, as their motoring needs become much more complex.
According to a new report from Aviva, households are finding it increasingly difficult to cope with one car – traditionally the family saloon. The study noted that even in the 1980s many families complemented the saloon with a smaller second car.
However, since then, Aviva has found an increasing trend towards a secondary car of equal size and value.
This means that some cash-strapped families may be in a position where they actually need to have a better second car, but cannot afford to purchase one. Car leasing helps consumers avoid the upfront costs associated with privately buying an automobile, but will mean that one is always available should it be needed.
High-spec smaller cars such as the Ford Fiesta, Vauxhall Corsa, Volkswagen Polo, Peugeot 207 and Mini were all among the ten most popular vehicles in the UK last year.
“Thirty years ago the big saloon and the small ‘runaround’ sitting side by side outside Britain’s family homes was a ubiquitous sight. Now you’re more likely to see two VW Golfs or newer SUV/4×4 hybrids like the Nissan Qashqai and the Suzuki Grand Vitara sharing driveway space,” said Heather Smith, the group’s head of car insurance.
She explained that family life was becoming more complex and that often two cars were a necessity as both parents work
The days when cars are the sole concern of fathers are long gone and “multi-tasking mums” now also need a vehicle that is fit for both work and family life, she stated.
Recent figures from the Finance & Leasing Association (FLA) revealed that more people were getting in debt purchasing cars.
The authority’s figures reveal that 62.9 per cent of all new cars bought during 2011 were purchased using credit.
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