Tuesday 22nd of February 2011
It appears many people in the UK are so concerned about their financial situation that they are putting off making big purchases.
And for those owing debts of more than £15,000, asking individual voluntary arrangement questions could be one way for them to ease their monetary worries.
The latest AA Financial Services Car Purchase Index has shown two-thirds of Brits have no plans to splash out on a new car.
According to the poll of over 18,000 AA members who aim to own another motor in the next 24 months, UK adults are likely to spend less on such purchases than those who were questioned last year.
Director of AA Savings Mark Huggins said: "Buying a car … is a big commitment and at a time of increased financial pressure, including fast-rising car running costs, it drops down the list of priorities."
Joshua Bamfield, director at the Centre for Retail Research, recently advised families to reign in their spending as many businesses will be looking to reduce staff working hours.
