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Top five reasons why Brits buy new cars

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One in five people now change their car because they’re bored with their current vehicle, claims new research.

The survey also revealed that finances are a big factor when it comes to deciding on a new car, with 43% switching as a result of sky high repair bills.

Car leasing specialist, UK Carline, polled 1,000 drivers who own or lease a car in the UK, looking at how often Brits renew their cars and the reasons for getting rid of their old ones.

Top five reasons for changing cars

  1. Previous vehicle cost too much in repairs (43%)
  2. Previous vehicle cost too much to run (24%)
  3. Wanted to drive the latest models (21%)
  4. Got bored of previous vehicle (20%)
  5. Wanted to keep up with the latest technology/features (14%)

More than one in five (21%) Brits admit to buying a new car every two years, however it is Londoners who renew their car the most frequently, with 45% of those surveyed in the capital stating they buy a new car every two years or less.

Drivers aged 18-34 change their vehicles the most often, with one in 10 (11%) switching their car every 18 months – more often than many people change their phone contract.

When it comes to paying for their new cars, almost half of Brits (48%) buy the vehicle outright, while 18% opt to finance their car through Personal Contract Purchase (PCP), 8% through Personal Contract Hire (PCH) and 12% through a hire purchase (HP).

About Gareth Herincx

Gareth is a versatile journalist, copywriter and digital editor who's worked across the media in newspapers, magazines, TV, teletext, radio and online. After long stints at the BBC, GMTV and ITV, he now specialises in motoring.

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