Owners of older used cars planning for future repairs
Owners of older used cars planning for future repairs
Owners of older used cars are being more sensible about planning financially for car repairs, it is claimed.
According to Warranty provide Mondial Assistance, it experienced an eight per cent rise in the number of used car owners taking out warranties for their vehicles during 2011.
The firm says this is evidence of a definite shift towards planning for the unexpected among owners of older cars.
A total of 63 per cent of the warranties taken out with the company in the last 12 months were for cars over three years of age. This figure was just 49 per cent in 2010.
Liz Grindell, warranty manager for Mondial Assistance UK, says that flexible payment schemes have also helped.
"This is a real boon for motorists, at a time of economic uncertainty, with fears about employment security, pay freezes and the rising cost of living all taking their toll on UK households," she added.