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VANETs have been envisioned as an infrastructure for deploying Vehicular Information Systems (VIS) that among others provide drivers with an up-to-date view on the prevailing traffic conditions. In this work we evaluate the benefits of caching vehicular information obtained from such VIS through VITP, a location-aware, application-layer communication protocol that we extend to support caching. We present an evaluation study of our approach conducting extensive simulation on large scale vehicular networks under different realistic urban traffic conditions Our results identify the critical parameters that affect information quality in VANETs as well as demonstrate the viability and effectiveness of the cache-enabled VITP.