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Six in ten drivers believe cars are becoming unaffordable – survey

Cost-of-living crisis is making cars more expensive to run and buy.

Motor insurance costs

Sixty-two per cent of the drivers think that day-to-day running costs for cars are now unaffordable, a new survey has revealed.

Seventy per cent of the 2,007 drivers interviewed by Close Brothers Motor Finance say that there are too many additional costs such as low-emissions zone charges and hikes in insurance premiums.

However, the survey found that drivers are making their own cost-cutting measures in order to eke out every penny to help fund motoring.

In order to drive down costs, 51 per cent say that they now shop around for cheaper fuel, while 39 per cent are cutting down on the amount they drive altogether. More than a fifth have carshared with friends, family and colleagues to save money while an additional 15 per cent say that they plan on doing this in the future.

Lisa Watson, director of sales at Close Brothers Motor Finance said: “As drivers look to make cutbacks this could have a knock-on effect on their next car purchase and in turn, change the type of vehicle they want to purchase.”

Though running an electric vehicle from home can often help reduce fuel bills, a fifth of those motorists spoken to in the survey said that they’ve decided against buying an electric vehicle due to costs, with 12 per cent planning to purchase one in the next year.

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