Press Release: April 06, 2010
The Sainsburys Finance Car Buying Index recently revealed that in the six months leading up to August, an increase of 47% is expected for vehicle purchases across the UK significantly higher than the last period surveyed between September 20009 February 2010.
The used car sector is set for a significant boom with low vehicle sales for new models in 2009 leading to a growth in the second-hand market both for owners and prospective buyers.
Steven Baillie, head of loans at Sainsburys Finance, said: "The decline in new car sales in 2009 seems to have generated a better market for second-hand sellers.
"The likelihood is that many people will now be surprised at how much they can get for their existing car and will be looking to upgrade."
Across the globe, motor insurance holders are thought to be spending a staggering £49.1 billion on new vehicle purchases 25.9 percent higher than figures received from the previous six months.
Third party fire and theft car insurance and third party car insurance policies are recommended for owners of lower value, second-hand cars.
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