Tuesday, February 24, 2009
Category:
Home Improvements
According to Gocompare.com, drivers suffering the effects of the credit crunch are putting potential cost savings ahead of safety.
Up to 6.5 million UK cars are reported to have defective brakes or tyres which are worn out. Up to 30 per cent of us have put off carrying out vital repairs to save money.
As winter driving conditions have worsened, research from Gocompare.com has revealed that as many as 17 per cent of drivers have put off changing worn out tyres and up to 6 per cent have put off replacing troubles with their brakes. In total this could equate to 6.5 million defective vehicles on our roads, a number which could easily rise.
Supposedly 23 per cent of drivers who have functional cars at the moment, would put off making repairs if their vehicles became faulty tomorrow. When it comes to servicing, up to 40 per cent said that they would contemplate having the car serviced by a friend, or that they would even try servicing it themselves. This has come about even though more than half of those surveyed paid no more than £200 for their most recent service.
Although over half of UK drivers reported that they would not go anywhere other than a proper garage to have their vehicle serviced, that is not to say that they aren’t willing to cut some corners to save some cash. 62 per cent would consider waiting for their next service, past the recommended mileage. Almost 40 per cent would stretch it by over 1000 miles, while 10 percent of younger drivers thought that they would exceed the recommended mileage by 5000.
And it is not just routine maintenance that is being shunned by drivers. 4,7 million are putting themselves in danger of being stuck at the side of the road as just under 17 per cent don’t have any breakdown cover.
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Motorists who feel their vehicles are beyond routine maintenance, and who are looking to finance a new car, could consider a secured loan to finance it. One of many options to finance a new car, secured loans can be repaid over a term to suit the borrower, from 5 to 25 years. Secured loans can also be considered as a finance option to make
home improvements or consolidate existing debts. If using a secured loan to repay existing debts, it should be remembered that repaying borrowing over a longer term may increase overall interest charges and extend the repayment term of debts.
