Young Marmalade - funny name, clever idea
By Richard Hammond on May 22, 09 12:00 AM in Richard Hammond's Friday column
Young Marmalade is a company that specialises in kitting out young drivers with a new, or nearly new, car and insurance in the same package. A sort of one-stop shop for young drivers.
In it, young drivers (or their parents) simply make one payment for the car and insurance over a set period.
Like normal finance then, except that Young Marmalade has agreed very competitive insurance rates.
The news is that the company can underwrite deals so that if a youngster or parent runs into trouble - like losing a job - Young Marmalade will buy the car back and repay the finance. Sounds sensible to me.
Richard Hammond is a columnist for the UK newspaper the Daily Mirror and a Presenter on BBC's Top Gear