UK Motorists Ditching Their Cars To Fight The Economy

Though the interest rate associated with UK car loans is relatively low, the costs of fuel and auto insurance are not. Increases in these expenses have forced many UK motorists to take matters into their own hands.

Breakdown rescue agency Green Flag reports that over 20 percent of UK drivers have either switched to more fuel-efficient cars or ditched their vehicles entirely.

In January 2011, Green Flag experienced a 40 percent increase in vehicle breakdown calls related to fuel. Since that time, the cost of fuel has continued to rise. Through its study, Green Flag found that seven percent of respondents are saving fuel by sometimes using motorbikes or scooters.

An additional 14 percent have permanently stopped using their autos.

The survey revealed that over half of the drivers polled have changed their driving habits to reduce expenses. To save fuel, 58 percent of them are driving more slowly. Walking has become the transportation method of choice whenever possible for 42 percent of those polled.

Cars that are more fuel-efficient are being considered by some who plan to continue driving.

Though he is the CEO of Green Flag, Henry Topham does not want consumers to need his company’s services due to running their vehicles on empty tanks. He said it is wiser for people to drive slower and reduce their frequency of car travel.

Not only does this save money, it is better for the environment and the health of the population.

If more people decide to get rid of their cars and not purchase a replacement, the car finance industry could be severely impacted. Though the streets of London would be much emptier and air would be cleaner, there would be many empty car dealerships.

The impact this might have on the economy is causing some people to worry.