Average age of cars on UK roads increases to 8.4 years

Average age of cars on UK roads increases to 8.4 years

Recently released data from the Society of Motor Manufacturers and Traders (SMMT) has revealed the average age of cars on UK roads is now 8.4 years - the highest ever on record.

The closure of car showrooms for long periods throughout 2020 meant fewer new cars were registered.

Currently, the average car on UK roads was built in 2011, with 10 million cars in service since 2008 or earlier.

The growing average age of vehicles on the road means consumers are more at risk of having to pay for unexpected repairs.

With the UK’s economy struggling to recover from the impact of the coronavirus pandemic, over half of UK adults would find it very difficult or impossible to immediately pay an unexpected bill of £500 or more.

Consumers who are struggling to pay or would prefer to spend their disposable income elsewhere are increasingly turning to Buy Now Pay Later to alleviate some of the stress and pay back large bills in manageable instalments.

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