Rising costs deter motorists from driving

02 May 2008

Quarter of motorists use car less

According to new research, drivers are being pushed off the road by the increasing costs of running a car including rising car insurance premiums, petrol prices and car maintenance.

The study, by Money Expert, found that a quarter of all motorists (25%) claim to use their car less because of the rising cost of maintaining and running a vehicle.

Older drivers are hardest hit by the increases with 29 per cent of over 55s saying they have used their car less in the past year because they cannot afford to.

The majority of participants in the survey (76%) said that the increase in petrol prices had driven them off the road, while 8% cited high car insurance premiums and 8% said that rising maintenance costs were to blame.

In the UK, the average price of a litre of unleaded fuel is now 107.5p and, according to Money Expert, the average comprehensive car insurance policy has increased to £629.04.

Sean Gardner of Money Expert 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 too 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 possible car insurance deal you can find.”

Why not see if you can reduce your insurance premiums. Compare car insurance here.