Say yes to cheaper van, home and car insurance

British motorists are defying the credit crunch by picking up deals which protect the value of cars they purchase, it has been claimed.

Car supermarket company Motorpoint has stated that Personal Contract Plans (PCP) - finance deals guaranteeing the value of a vehicle over a fixed term - are a popular choice among buyers.

It may be that such long-term savings prove to be a sensible option - helping motorists when it comes to paying for a car insurance policy or road tax bills.

Motorpoint spokesperson John Gillespie commented that vehicle depreciation is usually a shock for motorists.

"A good PCP scheme enables a customer to budget precisely and means that market forces that the customer cannot control will not leave them out of pocket when they come to change vehicles," said Mr Gillespie.

Meanwhile, Car Parts Direct has commented that a two or three year old car could prove to be a more cost-efficient option for buyers than a new vehicle.