Recently, a survey found that a majority of drivers, 62%, believe that the costs associated with running a car are too high.
Close Brothers Motor Finance surveyed 2,007 drivers and discovered that 70% feel overwhelmed by the additional expenses such as fees for low-emission zones and rising insurance premiums.
Despite these challenges, the survey revealed that drivers are actively taking steps to cut costs and save money to support their vehicles.
More than half of the respondents, 51%, now compare fuel prices to save money, while 39% are reducing their driving frequency.
Additionally, over 20% of respondents have started carsharing with friends, family, and coworkers to save money, and 15% are considering doing so in the future.
Lisa Watson, the director of sales at Close Brothers Motor Finance, noted that these cost-saving measures could impact the type of vehicle drivers choose to purchase in the future.
Although operating an electric car at home can lead to lower fuel costs, only 12% of the surveyed drivers plan to acquire an electric vehicle in the next year, with a fifth of them citing expense as a barrier.