Motorists beating credit crunch by repairing old cars

Motorists are fighting the credit crunch by deciding not to purchase new vehicles, instead they decide to repair their existing vehicles.

Halfords have said that they have noticed an increase in sales in this current credit crunch, Nick Wharton, the retailer’s joint managing director has said that motorists are now holding on to their older cars for longer.

Mr. Wharton told Times Online that although other retailers are in a vulnerable situation with the current credit crunch, Halfords are less vulnerable.

Consumers are now spending less as food and fuel bills have increased, so they are now less likely to spend a huge sum of money on a new car. Halfords have said that car owners are now choosing to purchase more new stereos or Sat-Navs for the cars that they already own.

Halfords have also noticed an increase in bike sales, a direct result of high petrol costs.