By Katherine Clarkson
The credit crunch has led to one in five vehicle owners in the UK downsizing or selling one of their cars, according to a new survey.
And motorists are so keen to save their money on essentials like tyres and batteries that they are shopping online to find the best deals on tyres with companies like etyres, who are up to 40% cheaper than the high street depots.
The main reason given by motorists for downsizing their vehicle during the past 18 months was to save on fuel (61%), while nearly a third (29%) said they did it to cut the cost of road tax.
Those who downsized their vehicle estimate they have already saved an average £309, according to LV= car insurance.
Despite the emphasis from the Government on ‘greener’ driving, only one in six (15%) of those who had downsized cited environmental concerns as part of their decision.
Almost a quarter (23%) of respondents to the survey said they would consider buying a second car to reduce their insurance premiums. LV= analysts recommend looking for a common make of car with a smaller engine as that will generally help to reduce insurance costs.
Reducing running and maintenance costs is also becoming a priority for vehicle owners and the internet revolution is providing them with big savings.
Etyres, the UK’s leading online tyres firm, is seeing year-on-year sales increases of 30% as more and more motorists are realising they can get a better deal from a mobile fitting service, which has low overheads, rather than driving to the traditional high street depot, which has to cover the cost of expensive premises.