Tesco Compare finds cost-cutting motorists looking to sell

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Tesco Compare finds cost-cutting motorists looking to sell

Fri 28th Aug 2009

Tesco Compare has found that people with more than one car are considering selling their additional vehicles in order to save money.

A survey by the site showed that 33 per cent of multiple car owners are thinking of getting rid of one of them because of the current economic climate.

Debra Williams from Tesco Compare suggested that people should look at other ways of cutting the cost of motoring, such as finding the best deal on car insurance, before selling their vehicle.

She said: "Multiple car households have become very common across the UK, but in the current climate, people are continuing to look for ways to cut costs and save money."

Research by the company showed that 30 per cent of motorists have more than one car, which between them are worth £15,600 on average.

On average one in five young people is driving their car without insurance, according to the Motor Insurance Bureau.

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