3:21 pm, October 10, 2008
NEARLY two out of every three motorists is willing to consider downsizing their next vehicle to save cash.
And this, says car rental firm Avis, could save the average family £7000 a year.
58 per cent of people responding to a poll said they would definitely downsize, or seriously consider it.
The company expects this proportion to only increase, as the financial crisis worsens.
To highlight the savings, it set a rather extreme scenario – a family of four, which currently drives a Range Rover that’s never used for off-roading.
Avis took an extreme downsize, by putting them into a Peugeot 107 city car. But the annual savings were similarly extreme – £7792 a year.
But there are still ample savings to be had for those switching from MPVs or larger family cars. It is this trend that you must be aware of, and must ensure your dealership reflects.
As credit and money tightens, you can expect many more such polls putting trade-down ideas into buyers’ heads…
Owning a vehicle – total annual cost
Family – travelling 12,000 miles per year, living in Westminster. Total cost includes depreciation, road tax, maintenance, fuel, insurance (average quote) and parking permit. Excludes congestion charge
Range Rover Sport 2.7TD HSE: £13,283
Peugeot 107 1.0 Urban: £5,491
Total annual saving: £7,792
