CHESTER, England, October 2, 2012 /PRNewswire/ --
- 70 per cent of motorists would make cut-backs of some sort to keep their car on the road
- A third of motorists could not live without their car
The increasing costs of running a car are forcing nearly three quarters of drivers (70 per cent) to make cut-backs to their outgoings in order to keep themselves motoring, according to research by MoneySupermarket.com.*
The UK's number one comparison website revealed the most common cutbacks motorists would make to stay behind the wheel are:
- Spending less on clothes and shoes (34 per cent)
- Reducing the amount they spend on their social life (33 per cent)
- Buying less alcohol and cigarettes (28 per cent)
- Going to the pub less often (26 per cent)
- Reducing their spend on holiday / mini breaks (26 per cent)
The research also found a third of drivers (33 per cent) "cannot live" without their car, and a further 31 per cent would find life tricky without it. The research also found more than half of motorists (53 per cent) think a car is an extension of its owner's personality.
Pete Harrison, car insurance expert at MoneySupermarket.com said: "The cost of motoring is an increasingly hot topic, and with the price of fuel recently hitting record highs, it continues to put additional pressures on household finances. It's no surprise whatsoever Brits are making cutbacks to keep their cars on the road - many drivers, especially in rural areas, depend heavily on their cars on a daily basis to get them from A to B, and if the cost of motoring continues to rise as we have seen previously, these cutbacks may become a very significant reality.
"It's not all bad news however, the MoneySupermarket Monitor on Car Insurance recently revealed the cost of car insurance has fallen by 10.6 per cent in the last year, with average premiums now £478.** There are, however, no guarantees that this downward trend will continue, so motorists should be extra vigilant when looking to trim the cost of running their car. Shopping around for cover may make a real difference to the price you're initially quoted. Compare prices in order to get the best saving on a policy that suits your needs. Currently, the typical saving made by those using MoneySupermarket to take out their car insurance is £411.***
Notes to editors:
* Opinium Research carried out an online survey of 2,012 UK drivers from the 2nd to 6th July 2012.
** MoneySupermarket Monitor on car insurance:
Quotes run on the MoneySupermarket website between June 2011 and June 2012.
*** Based on online independent research by Consumer Intelligence during 01 August 2012 to 31 August 2012
MoneySupermarket.com compares (at 30th Aug 2012)
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