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.
Euro under pressure as unemployment rises
The Euro is today under pressure after news that unemployment in those nations who have adopted the currency rose to nearly 15.9 million. This is the equivalent of 10.1% of the population of the 16 nations involved although the likes of Spain, Ireland and Slovakia have by far and away the highest unemployment rates in the euro zone. The Spanish rate is nearly 20%! As a consequence of the growin...Read More
Insurance premiums on the up
The trend for falling home insurance premiums has come to an end and the cost of insurance overall in is on the up, according to the AA. The insurer blames this summer's flooding for the three per cent rise in home insurance premiums - the largest single increase the AA has recorded - and also reports a two per cent increase in home insurance premiums. "We now see the result of that devastation re...Read More
Royal Bank of Scotland set to divest more non-core operations
The Royal Bank of Scotland has announced further selloffs as the company looks to focus upon its core banking and finance activities. The latest operation to be put up for auction is the European arm of its private equity portfolio which has attracted 10 bidders and looks likely to go for around £225 million. While this is chicken feed in the overall picture of recent Royal Bank of Scotland dispo...Read More
Is it sensible to reduce insurance cover in times of financial hardship?
Insurance cover is a subject which often arises during times of financial hardship such as many people in the UK are experiencing at the moment. More and more people are looking at the possibility or reducing their insurance cover in order to reduce their outgoings but does this really make sense?
The thing about insurance cover is the fact that while you may not use the cover in yo...
Has the UK property sector bottomed out?
Today's news that Bovis Homes has raised £60 million via a share placing, with the intention of spending funds on "cheap land", is yet another indication of the upbeat sentiment in the UK house building sector. Only a few weeks ago we saw the vast majority of house builders in the UK issue disappointing profits but ultimately positive comments going forward with the general opinion that the worst...Read More