Carfinance247.co.uk reveals how fuel duty is putting the “brakes” on family finance

With ongoing car fuel hikes it appears that Brits are on the road to nowhere
 
 
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* Car Finance
* Cars
* Finance

Industrys:
* Automotive
* Finance

Location:
* England

Dec. 14, 2012 - PRLog -- With ongoing car fuel hikes it appears that Brits are on the road to nowhere. Recent news reports make desperate reading with:

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 Joe 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?"

*Daily Telegraph 04.12.12 (http://www.telegraph.co.uk/motoring/news/9720629/Commuter...)

**Daily Mail 04.12.12 (http://www.dailymail.co.uk/news/article-2242766/Family-sp...)

Independent research carried out in December 2012 on behalf of Carfinance247.co.uk by Usurv.
End
Source:CarFinance247
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Tags:Car Finance, Cars, Finance
Industry:Automotive, Finance
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