If you want to park in central London then get ready to pay over £8 an hour, making it the second most expensive city in the world for motorists.
This doesn’t surprise me at all, because we already know that London is one of the most expensive cities to insure your car. The fact that parking will also hit you in the wallet is to be expected in my opinion.
Budget Motoring? Not in London
The simple fact of the matter is that if you want to drive a car on a budget then living in our nations capital is probably not a good idea.
It could be worse though, as the survey this was taken from has found that New York City is the most expensive city in the world for parking…with the average parking spot coming in at £20.55 an hour. It makes London seem cheap.
London isn’t cheap of course, but for many people out there it’s a necessary place they have to live in or commute to every day, mostly for business.
If this includes you, then you’re no doubt already aware of how expensive insuring your car and parking in the city is, and according to many experts out there, it is going to get even more expensive.
Yes that’s right. If £8.84 an hour is already making you wonder if London is really worth it, wait until parking gets to the point where you have to shell out £10, £15, or even £20 an hour. This will happen as more people move to the city and space becomes even more of a premium than it already is.
Lowering the Cost of Motoring
So what can you do to reduce your costs of motoring in the capital? Does it really need to be so expensive? While it’s never going to be as cheap as other cities in the UK, but there are always some things you do to make it more affordable.
For example, look for parking spaces just outside the centre of London, and then consider walking to work from there. Some reports suggest that parking can be as cheap as £4 an hour in a location that is still quite central.
Also, don’t forget to always compare car insurance in order to get the cheapest quotes. You will always have to pay a bit more for a car that is being used in the capital, but with a bit of time and effort on your part you can get a quote that isn’t that expensive…at least, not the kind of outrageous price you are used to paying.