Savings could be made by leasing newer vehicles

JonathanDecember 7, 2011

Motorists with older vehicles who are worried about the high cost of fuel in the UK may want to look at the possibility of van or car leasing.

New figures from the Society of Motor Manufacturers and Traders (SMMT) found that the number of new car registrations in November fell by 4.2 per cent, with 134,027 vehicles being sold. Those who cannot afford the high initial financial outlay for a new car could choose to lease a more recent model and experience the advantages of a more fuel efficient vehicle.

The SMMT statistics revealed that cars which are more than ten years old are putting their owners at a significant financial disadvantage, as the average mpg levels of new vehicles have increased dramatically over the last decade.

New cars now have an average fuel efficiency of 52.5mpg – higher than ever before – and more than 29.3 per cent higher than vehicles which were new in 2001.

“Despite the chancellor delaying the 3p rise in fuel duty, our cost of fuel is still among the highest in Europe, so customers are sure to welcome the 29.3 per cent improvement in new car fuel efficiency over the last ten years,” said Paul Everitt, the group’s chief executive.

According to the SMMT, the popularity of diesel-powered cars among the nation’s fleet managers has contributed to the vehicles gaining a 55.6 per cent market share, while alternatively-fuelled cars such as electric vehicles now account for 1.6 per cent of the market.

The Ford Fiesta is still the UK’s most popular car, although superminis are becoming favourites among British motorists.

Van leasing customers may be interested to know that Ford also experienced an increase in demand for its commercial vehicles in November.

The company’s Transit model remains the most popular choice for individuals and businesses in the UK.

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