Drivers Turn to Car Sharing to Cut Fuel Costs
With fuel prices still elevated in the wake of the record surge in the costs of oil earlier this year, many Britons are entering into car-sharing schemes in an effort to spread costs.
View as PDF
 Print View
September 20, 2008 (FPRC) -- Such is the claim of the AA, which has said that the high prices at the pump has set off this growing trend, adding that it is only likely to become more popular as the squeeze on spending continues. Indeed, research from the organisation has shown that nearly half (47 per cent) of all Britons said that they would continue car-sharing in a bid to limit expenditure. However, at present, 11 per cent of people do so once a week or more. Meanwhile, 51 per cent of those questioned said they were more likely to consider such an arrangement in light of the recent fuel price hikes.
Further findings have shown that of those who currently car share - a total of 5.5 million people around the UK - 60 per cent said that the cost of petrol was a principal reason for their decision to do so. By contrast, a little over a third (34 per cent) said they had started sharing the car in an attempt to reduce emissions, a finding that the AA suggested was a strong indication that the credit crunch was having a strong adverse effect on peoples commitment to green issues.
Consumers who are keen on making long-term savings on their transport costs may wish to consider taking out a car loan. In applying for this type of loan, people may find they are able to purchase a more fuel-efficient vehicle which will allow them to ease the burden of petrol on their wallets in the long run.
Edmund King, president of the AA, commented: "Car sharing is something that we really believe in - not only is it a good way to reduce emissions and congestion on the road, but can also save on motoring costs. There is huge scope to become more of a car-sharing nation and our research suggests that we could see a big increase, especially if government proposals for high occupancy vehicle or car sharing lanes on some busy commuter routes go ahead. However, to make sure that car sharing is a safe and pleasant experience, drivers should check their insurance policy as well as be mindful of the social etiquette around sharing."
He said that this was particularly important for people who were sharing with someone they did not know particularly well.
In terms of checking cover, the AA reminded people that while most insurers will provide cover for social trips undertaken as part of a car share. However, some business excursions may require additional cover, the group advised.
The problem of inadequate cover has also recently been raised by the British Insurance Brokers Association, which has warned that UK motorists are paying as much as 30 pounds more for car insurance to absorb the costs of damage done by uninsured drivers on Britains roads.
All About Loans providing you with breaking personal finance news. Stop by their website for the best rates on secured loans and debt consolidation loans.
For more information contact Abbi Rouse of All About Loans
Keywords:
personal finance, secured loans, debt consolidation
Recent Press Releases By The Same User New Payday Loans Site Launched This Week (Tue 7th Jun 11)
Guarantor Loans Arranged Website Launches in UK (Mon 6th Jun 11) Payday Loan Requests Jump by More Than 50 Per Cent in May (Wed 1st Jun 11) Find.gg Launches in Guernsey (Tue 5th Oct 10) Guarantor Loans Gaining Popularity (Sat 31st Jul 10) New Guernsey Loans Website (Sun 20th Jun 10) | 