Car insurance owners buying older cars

Thursday, 06 May 2010

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The cost of buying a new vehicle is at a historically high level, meaning many car insurance customers cannot afford the type of model they may have purchased before the economic downturn.

According to Network Automotive, prices have been pushed higher as a result of an increase in the prices of raw materials and other factors which have filtered through to the showroom.

This has led to many drivers opting for slightly older vehicles which can be purchased for less.

While buying habits may have changed, car insurance holders expect no sacrifice when it comes to quality and finish despite the fact that a vehicle has been around for a while.

Colin Bruder, managing director of Network Automotive, said that consumers still want to be satisfied.

"The customer buying a six-month-old, 5,000-mile ex-demonstrator still wants that new car smell and a bunch of flowers on the back seat. People paying the same amount for less need to be made to feel special," he added.

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