Industry News from Yes Insurance

An increase in finance deals to record proportions over the first half of the year has shown that drivers are not being affected by the credit crunch, it has been claimed.

Car supermarket company Motorpoint has remarked that its Personal Contract Purchase plan was picked up by six per cent more people as 2008 has progressed.

It added that one in three of its deals now incorporate finance, while 53 per cent of motorists are intending to find their next vehicle using the method.

A finance deal could help motorists spread the cost of their new automobile, leaving money free to spend on road tax and car insurance.

"We are finding that our highly-affordable point of sale products ... are proving extremely popular, enabling customers to drive a car that their budget wouldn't ordinarily allow," remarked Motorpoint managing director David Shelton.

The car supermarket firm was founded in 1998 and has branches in Glasgow, Peterborough and Burnley.

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