Industry News from Yes Insurance

Some £175 million will be spent on cars with the new 57 registration plates when they go on sale next month, it has been claimed.

According to uSwitch, over 400,000 vehicles with the fresh plates rolled out of forecourts in September last year - a fifth of all new car sales.

But the vehicles may prove too costly for some, especially when added extras like car insurance policies and road tax are factored in.

Indeed, the firm's personal finance expert Mike Naylor said that consumers need to be careful not to bite off more than they can chew.

"The message couldn't be simpler - don't pay more for the finance on your new car than you have to," he said.

Earlier this week, a report in the Guardian stated that car prices have fallen over the last ten years, allowing more people to purchase them and get on the road.

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