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Credit crunch 'defied by smart drivers'
Motorists in the UK looking to pick up a new vehicle despite the credit crunch are becoming more savvy when it comes to choosing the right deal for them, it has been reported.
According to car supermarket company Motorpoint, a Personal Contract Plan (PCP) - which guarantees the value of a vehicle at the end of a fixed term - is becoming a popular option for drivers throughout the land.
It may be that by saving money in this manner, drivers free up funds which can be used to pay expensive car or motorbike insurance bills.
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Speaking on behalf of Motorpoint, John Gillespie commented that the typical amount of depreciation a vehicle can usually experience is a shock to owners.
He said: "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."
Meanwhile, Car Parts Direct has stated that a vehicle which is two or three years old is a viable method of saving money, as opposed to picking up a new vehicle.
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