Monday, August 29, 2011

One in five households sell a car to save money

With the cost of filling a family car rising by almost a third in a year, many Britons have opted to ditch a vehicle rather than bear the cost, according to a YouGov survey of 2,000 adults.

Almost 20 per cent of all UK adults now say that public transport is their main way of getting around.

While most of the cars sold are second cars, one in fifty families has resorted to selling their only car. A similar number have moved their child to a school closer to home due to the cost of transport.

Four out of ten parents now say that they can no longer afford as many family days out to place such as theme parks and zoos because of the cost of travel.

It is not only the price of petrol that has increased over the last year. The cost of insuring a car in the UK averaged £1,100 in July, a significant rise on last year. With the average household now £11 a week worse off than a year ago due to rising in inflation, some families have had enough.

Phil Jones, commercial director of Motors.co.uk, which commissioned the research, said: “These figures show concrete evidence of the everyday sacrifices that motorists are making. Extracurricular activities, nursery places, family days out; the things we previously took for granted are now seen as luxuries.” more