Drivers Downsize Their Cars During Economic Downturn Says LV=
The car insurance specialist LV= has research data that suggests that motorists are now starting to sell off their cars and purchase smaller models that will in the short term save them money during the current economic downturn.
Liverpool Victoria Car Insurance has established from their research that more than 20% of their customers were opting to sell their car for a less expensive model and one that was cheaper on fuel.
The research has also showed that 29% of their customers now wanted cheaper motor insurance premiums.
A spokes person from LV Insurance was very complementary towards their customers as this is seen to be a smart move in biting back at the credit crunch and reducing their car insurance premiums.