Car finance experts Car Loan 4U comments on rising costs will not force motorists to use public transport
Even though motorists face continuous rising costs in today’s economy, the everyday person still prefers the convenience of driving a car over the hassles of taking public transport, according to new research commissioned by the UK’s number one online car finance specialist Car Loan 4U.
The research*, which surveyed 2,000 people across the UK, reveals that 71% of people use a car because they find it more convenient than using public transport, despite as many as 24% admitting that they would find a way to run their car rather than take public transport even if they had low or zero income.
In fact, 42% acknowledged that running a car is probably more expensive than using public transport and 36% would still use their car even if public transport was a cheaper option.
Other factors revealed from the research also show that 41% of people favour using their car because public transport is simply too much hassle, and 40% use a car because public transport is unreliable.
Safety is another key element with driving, as 25% use a car rather than public transport because they feel safer.
Car Loan 4U Co-Director Ryan Dignan comments: “It is clear from our research results that people are willing to pay the price for their freedom to travel on their own terms.
“The annual costs of travelling in the UK are constantly rising, whether you’re running a car or using public transport. However, for those who can drive, personal convenience and safety appears to play a huge role in the decision-making process when it comes to buying a car.”
Despite the potential rise of fuel costs, 25% still wouldn’t switch to using public transport, and 23% also said that higher car insurance premiums wouldn’t make them convert to using public transport.
Finally, 10% would actually rather take a taxi than use a bus or a train.
Motorists looking to get their hands on a new or used car might want to consider their car finance solutions and as leading car finance providers, Car Loan 4U can help provide expert advice.
Source: 2,000 consumers in February 2013, Redshift Research.