Young drivers lack basic car know-how
Young drivers fork out £140 million every year in car maintenance due to their lack of basic mechanical know-how, new research suggests.According to the study carried out by Direct Line, half of all drivers under 25 do not know how to jumpstart their car or replace a tyre, compared to 25 per cent of drivers aged 45 or over.Nearly one in three admitted to paying to have their oil changed, while 25 per cent also admitted to having their brake fluid checked.The findings come despite the DVLA introducing a car maintenance section to the practical driving test in September 2003.Some 37 per cent of 18 to 24 year olds who have passed this test still struggle when it comes to checking the level of their car's brake fluid."It's not unusual for drivers to feel a little helpless when it comes to car maintenance -however, it is important for drivers to be able to make basic safety checks on their vehicle, such as checking tyre pressure and oil level," Emma Holyer, Direct Line's motor spokesperson said."These checks are essential before embarking on a long journey and we are urging motorists to ensure they are able to conduct these simple tests rather than relying on parents or mechanics for help."Our research also shows that more than four in ten drivers have waited for their vehicle's annual service to fix some of these potentially serious problems. This should be avoided as it is important that all motorists are driving roadworthy vehicles," she added.Asking parents for help is still a popular and altogether cheaper alternative to paying out for professional know-how, with 62 per cent of all young drivers confessing to turning to their mums and dads for advice.
London Stock Exchange reveals Turquoise investment
As expected, the London Stock Exchange has today confirmed it has taken a majority stake in alternative trading platform Turquoise, a venture which many people had believed would initially cause concerns for the London Stock Exchange. However, after £40 million start-up costs and £15 million of losses the banks behind the venture have effectively given up and handed control to the London Stock E...Read More
Why do the UK banks need further funding?
While there is no doubt that the UK economy continues to crash and burn, there is very serious debate across the country as to why the UK banking sector requires special attention and massive funding yet again. There is an argument that many of the problems being experienced by the banking sector have been brought on by greed over the last decade which has seen the quality of loan books reduced an...Read More
MPC set to end 2009 with caution
The Bank of England's Monetary Policy Committee (MPC) is expected to end 2009 on a cautious note with no change in interest rates and no change in the amount of funding available to the quantitative easing program. Despite the fact a number of prominent economists have suggested that the UK economy is "moving in the right direction" there are still concerns regarding the short to medium term perfo...Read More
Premier League Clubs boost House Prices
Research from Halifax has shown that owners of houses in the same districts as Premier League Football clubs have benefited from a rise in value of their property of 137pc over the last 10 years. This rise equates to adding £404 to the average house per week for a period of 10 years. House prices over the last year have fallen dramatically in some areas, but those in the same district as to...Read More
Over-50s 'set to become landlords'
The over-50s are set to make a move en masse into the property market in the coming years, according to new research.Figures from Saga have suggested that almost a quarter more over-50s are planning to become landlords in the next 12 months, as the potential for investment in the property sector shows little sign of abating.With the buy-to-let boom expected to continue, many over-50s are planning...Read More