The rise in classic car insurance premium is forcing the motorists to opt for car hire instead of owning one. Most of the drivers now prefer leasing options due to rise in motoring cost especially classic car insurance charges.
According to the Finance and Leasing Association the car lease value of private vehicles has raised up to 55% in the second quarter of 2011.Thereports suggest that the motor finance dealer now charge for 57% of all new private car sales.
With leasing of car, the driver can prevent servicing as well as insurance cost particularly young drivers who are charged heavily due to their risky driving behaviour. The young drivers can also buy classic car to enjoy reasonable rates of classic car insurance and drive stylish vintage car. The leasing facility of car not only enables the credit crunch facing drivers to enjoy driving but also let you save good money needed for motoring expenses.
As far as private buyer preference is concerned more and more drivers are turning towards diesel cars as compared to petrol cars due to fuel economy. Further the insurance cover price is another major factor while buying the car. The car owner can look at the classic car insurance cover prices while buying a vintage car and buy a reasonable collector car with manageable insurance cover.
The classic cars are popular among UK people on lease especially on favourite occasions like wedding, birthdays to add some style in the event. The driver can take up any car on lease and change the car after the lease tenure ends. The motorists just need to look at the leasing catalogue of the classic cars and select the right vintage car as per the budget and need. Rest enjoys driving a collector car for that time period without worrying about service and insurance.