Motorists could reduce pressure on their finances by going green, new findings show.
In research carried out by uSwitch it was revealed that more drivers are looking to reduce their impact on the environment. Over the course of 2007, the number of eco-friendly cars bought increased by 70 per cent from 10,000 to stand at 65,000. Should this trend continue, it was claimed that by the end of this year there will be 55,900 green vehicles on British roads.
Pointing towards the six most environmentally-friendly cars on the market, the price comparison website indicated that these automobiles emit about 17 per cent less CO2 compared to their “gas-guzzling counterparts”. It was also suggested that switching to a greener vehicle could generate savings of up to 125 pounds on road tax, with consumers set to be 165 pounds better off as a result of spending less money on fuel. Indicating the increasing financial pressures that fuel costs are placing on consumers in recent months, uSwitch stated that on January 16th petrol prices reached a high of 104.3 pence per litre – up by 19 per cent from the 88.25 recorded last year.
Those looking for a competitive way to fund purchasing a car may wish to consider applying for a cheap loan.
Ashton Berkhauer, insurance expert at uSwitch, said: “A vehicle’s green credentials are fast becoming a major selling point when it comes to buying a new car. However, it is not simply a case of motorists blindly jumping on to the green bandwagon. With fuel prices soaring to a record high, motorists are increasingly becoming attracted to these fuel-efficient, lower-tax green vehicles, finding them to be kind on their pockets as well as on the environment.”
He went on to claim that in spite of the perception that green cars are more expensive to buy then the average vehicle, the former are on average 130 pounds cheaper. It was also pointed out that drivers of eco-friendly automobiles will save an average of 1,092 pounds on running costs over a five-year period. In addition, the uSwitch representative pointed out that those motorists opting to get an environmentally-friendly insurance policy could also find that pressure on their finances is lessened, as insurers are offering evermore low-cost premiums.
Mr Berkhauer added: “Consumers are increasingly tuning to green as research suggests that two-thirds of drivers would consider switching to a greener vehicle and sales of ‘alternatively-fuelled’ cars are on the increase. With ‘going green’ recently being voted the third most popular new year’s resolution, it seems highly likely that the green boom is set to gain even greater momentum in 2008.”
Drivers looking for a cheap way to finance purchasing a car could be advised to take out a cheap personal loan. In applying for this type of loan borrowers may find that they are left with affordable, low-rate repayments in comparison to the potentially expensive deals they may face if opting for a garage showroom deal. Last month, research conducted by AA Personal Loans revealed that the proportion of motorists looking to get a compact car that will not place too much pressure on their money management has increased by 43 per cent.