According to new research findings recently reported by a leading car insurance comparison site, 65 per cent of drivers said that car insurance rate hikes and rising fuel costs will influence their decision when it comes to buying their next vehicle.
The online car insurance site found that motorists have had to face tough decisions when it comes to their financial arrangements. Many Brits have had to look into changing the vehicle they drive in an effort to control costs, and 55 per cent remarked that for their next car purchase, they’ll be choosing a more fuel efficient model.
At 38 per cent, more than one out of every three motorists will look into purchasing a vehicle that either has a lower road tax associated with it or one for which they can obtain discount car insurance. Meanwhile, nearly one million drivers said that they would have no choice but to sell their car because it’s simply too expensive to maintain it.
One industry expert remarked that he did not find it surprising that such a large number of drivers were rethinking their choice of vehicle in the face of escalating insurance and fuel costs. Industry analysis shows that insurance premiums went up by 31 per cent last year, and 2011 has seen similar rises – which, alongside rising fuel costs, creates even more pressure on households and forces a large number of families to re-examine their motoring needs.
Drivers are looking for ways to make it less costly to run a vehicle through looking for ways to cut costs. Driving more efficiently, avoiding using a car for short journeys, and reducing fuel consumption through car sharing are three ways drivers can help manage their costs, the expert said.