Driving costs 'increasing'

Fri 18 Apr 2008 - Published in Car Insurance

Drivers are being forced off the road as a result of rises in the cost of petrol and car insurance premiums, new research has revealed.

A new study has shown that a quarter of all motorists claim to use their car less as a result of the rises in costs associated with running the vehicle.

Research conducted for MoneyExpert found that drivers are using their cars less because rises in petrol prices, maintenance costs and car insurance premiums are all making it too expensive to use this means of transport.

"Many people are finding their finances are being squeezed to the limit and when that limit breaks something has to give. For some that means leaving the car in the drive and taking the bus or bicycle to work because driving has simply become too expensive," said Sean Gardner from MoneyExpert.

Earlier this week, the firm found that the cost of borrowing on credit cards has increased in the last six months as companies further tighten their lending criteria.

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