Carfinance247.co.uk Reveals How Fuel Duty Is Putting The “Brakes” On Family Finance

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With ongoing car fuel hikes it appears that Brits are on the road to nowhere. Recent news reports highlighted by Carfinance247.co.uk make desperate reading with:

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while 56% of those questioned currently commute by car, 36% said that further fuel increases will stop them doing so!

•    reports of commuters sleeping in their cars in order to save on car fuel costs*

  •     68% of people placing the issue of fuel prices at the top of the list for PM David Cameron to tackle*
  •     transport costs being cited as the biggest household expense last year (coming in at £65.70 a week)**

Car finance and dealer specialist carfinance247.co.uk carried out an independent study to see just how badly the UK public is being affected by fuel increases and found that:

  •     while 56% of those questioned currently commute by car, 36% said that further fuel increases will stop them doing so
  •     men are nearly three times more likely to consider changing their car in order to save on costs than female commuters (14% vs. 5%)
  •     those in the age band 18-29 are the most like to change their vehicle
  •     40% of those questioned will consider travelling by train, motorbike or bicycle instead
  •     18% of respondents said they’d look to car share (with 27% of females choosing this option against 10% of men)
  •     a third of higher income earners (more than £40,000 pa) are more likely to consider alternative methods of transport (33%) compared to a quarter (25%) of people earning less (£10,000-£19,999 pa)

Louis Rix, Director at Carfinance247.co.uk, says: “It is amazing how on the one hand the government talks about fuel (gas and electricity) poverty and how it impacts on family life, yet continues to squeeze families with increased duty on fuel. Our research clearly shows that this is now becoming a big issue and needs to be given the same level of importance as energy prices, as without people getting to their workplace, how will the economy grow?"

Ends

*Daily Telegraph 04.12.12
**Daily Mail 04.12.12
Independent research carried out in December 2012 on behalf of Carfinance247.co.uk by Usurv.

Contact:
Louis Rix, Director of carfinance247.co.uk, on: 0845 129 5526 or email: louis(dot)rix(at)carfinance247(dot)co(dot)uk

About us:
Founded in 2000, carfinance247.co.uk is a privately owned business with offices based in central Manchester. We provide vehicle financing solutions for all financial circumstances such as hire purchase, personal contract purchase, contract hire and other leasing options. No deposit is required and we can supply and deliver any make and model of your choice.

Address: The Loading Bay
Albion Works
12-18 Pollard Street
Manchester
M4 7AJ

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