New government scheme cuts a better deal for car finance customers

A new government plan aims to give new car customers a better deal on their insurance. Transport minister Ruth Kelly has liaised with car providers to discuss possibilities at lowering insurance rates for new customers, who have just passed their test and are purchasing their first car. These are the customers most likely to need car finance, so any measure that eases financial pressure is likely to be welcomed. The new plan would involve taking a new driver course which, if successfully completed, would give new drivers cheaper insurance premiums. If it is finalised by government officials, the scheme could see new drivers saving up to £500 a year on their insurance costs, as well as making them safer and better drivers. This should make their car finance options more affordable. The courses, although open to all drivers, will lead to the greatest insurance savings for newly qualified drivers, who currently pay insurance premiums of up to £2,000 a year. A Department of Transport source told The Times: "We want people to go on improving their driving skills throughout their driving careers. This is about creating the right sort of education and incentivising people to do it."

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