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Credit card charges: Motorists changing their cars to cut costs, research finds

A number of motorists in the UK who are looking to avoid credit card charges may be thinking about trading in their current car for a more fuel efficient model.

According to research by, 55 per cent of drivers say they will opt for a more fuel efficient car the next time they buy a vehicle in order to combat rising petrol prices.

Pete Harrison, car insurance expert at the price comparison website, said: "It is not surprising so many motorists are rethinking their vehicle choice … Our analysis shows car insurance prices increased by 31 per cent in 2010, and we have seen similar rises in 2011.

"This, coupled with rising fuel costs, is creating extra pressure on household spending, and forcing many families to rethink their motoring needs."

The research by showed that 38 per cent of drivers will look to buy a car that is cheaper to insure, while around a million motorists said they would sell their car altogether.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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