Drivers Cutting Back As Motoring Costs Rise

Car owners are finding ways to cut back on spending as the costs of motoring have risen dramatically over the last six months.

The dramatic increase in petrol and diesel prices is forcing more than half of drivers to reduce the amount of driving. Almost all feel “ripped off” by the cost of fuel.

These findings, commissioned by Admiral Car Insurance in conjunction with a YouGov survey, illustrate how the rising costs of owning and running a car are being felt by the nations’s motorists.

It is not just the recent price increases in fuel that is hitting motorists pockets. The rise in VAT to 20% in January means that car parts and servicing are also costing more this year.

Seventeen per cent of those surveyed said that they had ignored a fault with their car due to the cost of the repair and a further 15 per cent have cut back on servicing their car to safe money.

Of some concern, is the fact that almost one in ten motorists (8%) have ignored problems with their tyres because of the cost of renewing them. This is potentially very dangerous, as Sue Longthorn, Admiral managing director, points out:

“It’s a concern that some motorists are willing to drive around with tyres not in the very best of condition. This could cause more serious problems long term and could even cause them to have an accident.”

Car owners can find safer ways to reduce the cost of car ownership such as shopping around for car insurance and taking the time and effort to get the best quotes on car repairs and routine maintenance.

There are also a number of tyre suppliers who sell good condition used tyres taken from scrapped cars. These can offer excellent value but care must be taken to ensure that the tyres are safe before being bought and that the supplier is reputable.

Motorists might also be tempted to buy a used car, instead of a new car, to reduce costs. Whilst this can be a sensible approach, particularly with a “nearly new” car, it is important that the correct questions are asked about the car history and whether there is any outstanding finance on the vehicle, as Vicki Butler-Henderson explains in a WebTv show that was broadcast on Thursday.