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News & Features

Cars Being Changed Every 18 Months

Posted in General News on Friday, September 15th, 2017

According to research carried out by the motoring experts, HPI, the average person changes their car more often than they change their phone. With more and more motorists choosing to lease their cars through a dealer rather than buy them, manufacturers are seeing their cars returned after an average of 18 months whereas the average person upgrades their phone every 24 to 36 months. HPI’s figures suggest that 80% of cars are now obtained on finance rather than purchased outright and considering that some cars are now available this way for as little as £99 per month, they are no longer considered to be such a big financial commitment. HPI’s Used Car Specialist, James Dower, commented: “It’s the same model as the mobile phone industry where people are comfortable paying a monthly fee – only they are now doing this with cars as well as their mobile phones. After buying a house, the car was traditionally the biggest outlay for most consumers, but now they are far more likely to change their car more often than their technology products or some regular household objects.”

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Douglas Campbell's Gravatar
Douglas Campbell

Friday, September, 15th, 2017

I wonder if their figures included Motability customers, or whether they were excluded on the grounds of being fleet customers.