Driveways are becoming the most expensive parking spaces in the country according to new research released today by Europcar, the leading provider of car hire services in Europe. The study of 1000 motorists reveals that they are spending 10% of their monthly income on motoring and car ownership costs - yet 65% are using them for less than an hour a day. Hence cars are staying on driveways.
“We commissioned this research to find out how people were dealing with their mobility issues in the face of increased motoring costs”, explained Ken McCall, Managing Director, Europcar UK Group. “What seems clear is that many people can’t imagine how they could manage without a car - but try to keep costs down by using their cars less. With more than half using their car for less than an hour a day, it seems that driveways are fast becoming the most expensive parking spaces in the country.”
The Europcar research reveals that insurance is a big cost factor for motorists, with respondents saying it has risen by an average of £57 per year and the majority admitting to spending up to £600 each year on this vital cover. With over a third of the motorists surveyed owning two cars per household, that’s double the cost when it comes to car tax, motor insurance, servicing and fuel.
Despite the rising costs of car ownership, more than half of those questioned (56%) said public transport couldn’t replace their car, admitting they find it too costly (40%), inconvenient (64%) and unreliable (53%).
Europcar has responded to these findings explaining that it provides a cost-effective option for two car - or more - families who leave one car on the drive for much of the time.
The annual cost of motoring has been calculated as £6689* including fuel. For around £150, plus fuel, a family could hire a mid-range family car from Saturday to Monday from Europcar. So they could hire every other weekend and still make savings on the annual cost of owning their own vehicle. Plus they won’t have the hassle of vehicle maintenance which could be a major factor as the average age cars driven by the survey respondents was 5 years with 18% owning a car over 10 years old.
“According to our research convenience is king when it comes to mobility” continued Ken McCall. “And that’s another reason why car hire provides a flexible, convenient and affordable alternative to second car ownership, especially as a Europcar location is never more than 20 minutes away.
“Whether it’s hiring a larger vehicle to ensure the whole family travels in comfort or saving wear and tear on the household car for longer journeys, Europcar offers the widest choice of vehicles. As the UK’s leading car hire company, we have a network of over 200 locations across the UK and the widest choice of vehicles, all on average less than 6 months old.”