Canvey Carriage Company Asks: Are Car Prices About to Go Up?

Reports that came out last week suggested that a future rise in interest rates may push up what you pay for a new car.  Is there any truth in this? Canvey Carriage Company Explores.

Canvey Carriage Company – The Cost Effective Used Car Service

We prioritise rock bottom prices here at the Canvey Carriage Company. A Canvey, Essex-based used car provider, we’ve built up a reputation as the showroom where you can bag a quality bargain for your latest used car.

The services of used car providers such as Canvey may be more in demand than ever, according to industry experts, as the wallet friendly prices currently trending in the national car industry may be set to disappear, as the national interest rate gets raised by the Bank of England.

Set to Hit Pre-2008 Levels of Economic Growth

For anyone who reads the money pages of their local rag, you’ll know we’re in the midst of an economic recovery. Accoridng to practically every financial expert around, our economy is stronger than it’s been since the recession, and we’re set to return to pre-2008 levels of growth by the summer.

This has been spurred on in no large part by the Bank of England setting their benchmark interest rate at 0.5% last year in a bid to spur British business growth. It clearly worked for the car industry, as UK car production jumped 12% in March alone and people are buying British cars in droves.

So Goes the Interest Rate, Goes the World

It seems like the bubble could burst a little now, though, as UK Hyundai CEO Tony Whitehorn has suggested that even small rises in the interest rate would impact the car industry, as it would restrict access to the funding people need from lenders to buy their car.

Reuters reported that Whitehorn said of the situation "I think it just has significant ramifications to confidence and directly into accessibility of funds to buy cars." Whitehorn has a point, as the interest rate will rise at some pint – it has to in order for the economy to keep on growing.

That is why used car services such as those supplied by Canvey Carriage Company are going to become more important than ever in the coming months – the interest rate can’t stay at 0.5% forever!

Canvey Carriage Company’s Top Five Road Safety Tips

If you want to make sure you stay safe on the road and get the most out of your used car for years to come, this blog post might just be the thing for you, as this week Canvey Carriage Company lists its top five road safety tips!

At Canvey Carriage Company, we’ve built a reputation as the Canvey Essex-based used car broker that you can count on for quality service. We’ve managed to do that, quite frankly, through the application of one very old fashioned principle. We care about our customers.

That care is why we provide the safest, most cost effective used cars you’ll find this side of the British Isles; it’s also why we provide you with an extensive MOT service that your wallet will love.  That’s why we want to make sure you play it safe on the road.

The Top Five Ways You Can Stay Safe on the Road

We’ve seen many a driver over the years, and a fair few of them have played it risky on the roads and paid the price. Our time in the business has given us the knowledge of how to stay safe on the road and here’s what we learned:

Don’t Be Tempted to Overtake: When you’re in a rush and you’re stuck behind a driver cruising at a snail’s pace, it’ll seem tempting to overtake them. Really tempting. Don’t. Did you know that hundreds of accidents are caused every year on the road because of overtaking? Maybe just beep them instead?

Keep Your Distance: It’s always a good idea to keep a healthy distance between you and the drivers in front and behind at all times on the road. Think of it this way, if you don’t and they come to a sudden stop, you’re screwed. Use your mirrors to keep your car at a healthy distance. 

Stick to the Speed Limit: We know you’re on a motorway and it’s so tempting to put your foot down, but you really shouldn’t. Did you know that 3,267 people were killed or seriously injured in speeding accidents in 2011 alone? Stick to the speed limit.

Be Aware of What’s Around You: Have you ever had to suddenly stop because a pedestrian has unwittingly walked into the road? Everyone has, and to drive safely you need to be aware of what’s going on around you. Don’t use mobiles while driving, check mirrors, ask your passengers to keep an eye out etc.

Give Yourself Plenty of Time: People who are in a rush tend to be careless on the road; carelessness tends to lead to accidents. Set off early when you’ve got to arrive at your destination by a specific time, so you can concentrate on the road. 

If you're in the market for a used car, visit Canvey Carriage Company.