CAR INSURANCE NEWS ROUNDUP: WEEK ENDED 6 feb 2013:
Motoring costs have grown so far out of control for younger drivers that many face the impossible decision of paying for maintenance or motor car insurance.
It’s common knowledge that keeping a vehicle in the current economy is already more than a little difficult, what with the rising costs of ownership such as car insurance rates, keeping it filled with petrol, and maintenance. There are things that you can do to make these costs more manageable, but frugality will only get you so far; on top of that younger drivers are often asked to pay punishingly high insurance quotes that leaves them seriously out of pocket – and an increasing number of younger British motorists have found that they simply don’t have the money to spare when it comes to keeping their vehicle maintained properly.
According to a recent motoring report, around one out of every ten motorists aged 18 to 24 don’t have the financial wherewithal to service their vehicles regularly, while drivers in other age groups are much more likely to keep their regular service appointments. Additionally, around 12 per cent of drivers between the ages of 25 and 34 won’t take their vehicles into their local garage due to a lack of funds, despite the fact that doing so increases the possibility of their car developing serious and quite possibly incredibly costly faults.
However, neglecting your vehicle’s regular maintenance needs is a false economy, as the money spent on these regular garage visits can help a car maintain its top fuel efficiency and can even result in an increased possibility of a car accident. Motoring about with worn tyres and brakes can lead to the kind of costly road traffic accident that could be impossible to recover from both monetarily and physically.
At this point it’s unlikely that such warnings will make much of a difference when it comes to cash-strapped younger Brits operating on a very tight budget. If the economy improves and wages begin to come up, this may change, but for now younger motorists are stuck with the unpalatable choice of having to drive a car that may be unsafe or not being able to afford a vehicle whatsoever.