Tuesday, June 16, 2009
Category:
Personal Finance Tips
Recent research by Post Office Insurance has revealed that 4.8 million of drivers in the UK would consider swapping 4 wheels for 2 until Britain reaches the end of the recession.
Fuel efficiency is a key attraction with drivers content to make a change from cars to mopeds or motorcycles. 31 per cent in fact have expressed this as the main attraction. Moped registrations have increased year on year. Some say they feel like making the change as they feel it is easier to get around on 2 wheels.
Men are twice as likely to switch to mopeds or motorcycles and drivers could find that not only do they cut fuel consumption in half, but they could also find their road tax starting as low as £15 per year. Parking costs are also cut and the need to pay congestion charges goes out the window.
Post Office head of general insurance Richard Pennant-Jones said: "At a time when many people are stretched financially, switching from four wheels to two is one way to save money. Using mopeds or motorcycles over the spring and summer can help reduce day-to-day transport and running costs, including insurance which could be significantly cheaper for motorcycles and mopeds than cars. We advise people to shop around and look for deals which offer them something extra - Post Office Motorcycle Insurance offers a number of policy benefits, including one month completely free."
………………………………………………………………………………………................
Those homeowners who are considering swapping 4 wheels for 2 in order to make savings and free up more of their income, could also consider consolidating their existing debt with a debt
consolidation loan. A debt consolidation loan can be used to put all debts into one so homeowners no longer need to worry about what to pay and when. Debt consolidations loans can be used to consolidate multiple credit cards, store cards, hire purchase agreements and personal loans into one place. It should be remembered with a debt consolidation loan that consolidating your debt may increase the amount you pay back overall and extend the repayment period of your debts.
