Increased costs causing drivers to use cars less

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Drivers using their cars less due to increased costs

A recent report has suggested that many drivers in the UK may actually be using their cars less as a result of rising related costs such as insurance cover and petrol, with changes to car tax prices from the budget also likely to impact on affordability for drivers in the future. Industry officials claim that rising costs such as these are pushing drivers off the road, as many simply cannot afford the costs that are associated with keeping a car on the road.

The study carried out by MoneyExpert showed that around 25% of motorists in the UK have admitted that they now use their cars less as a result of increased costs. Over 75% of these said that the rising cost of petrol was the reason that they had to cut back on the amount that they used their vehicles. Another 8% said that the cost of maintenance and insurance premiums had resulted in them using their cars less.

An official from MoneyExpert said: “Many people are finding their finances are being squeezed to the limit, and when that limit breaks something has to give. For some that means leaving the car in the drive and taking the bus or bicycle to work because driving has simply become to expensive. Petrol costs are high but the single biggest outlay a driver has to account for is their insurance premium. And as it’s illegal to drive without it the only way to minimise the damage is to shop ’til you drop and get the best possible car insurance deal you can find.”

Some officials are blaming the credit crunch, as many households are having to cut back on non-essential costs. Consumers are having to cut out costs associated with keeping their vehicle on the road to meet costs such as mortgage, rent, bills, and food.