Tuesday , September 25 2018
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Car owners in London – capital waste of money?

London’s motorists are wasting thousands of pounds each year on buying, taxing, maintaining, insuring and parking cars they hardly use.

According to research from Ubeeqo, almost a third spend up to £500 on annual motor insurance, yet more than half only use their car for up to one hour a day.

In other words, the capital’s drivers are paying a high price for not relying solely on public transport.

The survey also found:

  • More than a half of London drivers surveyed (59%) only use their car 1-7 hours a week – less than one hour a day
  • One in five only drive between 25 and 50 miles a week – 7 miles a day
  • One in 10 Londoners pay to park their car
  • More than a quarter (28%) of London drivers spent between £5,000 and £10,000 on their current car; 32% spent between £10,000 and £20,000 A third (35%) spend £300-500 per year on car insurance

“Londoners seem to be hostage to car ownership” said Benoit Chatelier, founder and CEO of Ubeeqo.

“Our research highlights the disproportionate cost when taking into account how infrequently they drive. On average, Londoners’ cars are used for just 4% of the time, the remainder of the time being parked outside their homes, or even worse, in a paid for bay or garage. And these parked, unused cars are also clogging up the already congested London road network.”

Ubeeqo believes the maths simply don’t add up for urban car ownership, but it also recognises that Londoners will only relinquish their cars if they believe they can retain the same independence. The Ubeeqo mobility app delivers the independence of car ownership without the burden of the cost.

By joining the exclusive Ubeeqo app, Londoners can access a range of mobility services which they can match to their travel needs, allowing users to access cars by the hour, plus conventional Europcar rental. Ubeeqo users in London will also soon be able to use the app to book a taxi or a chauffeur drive service, plus other public transport options.

About Gareth Herincx

Gareth is a versatile journalist, copywriter and digital editor who's worked across the media in newspapers, magazines, TV, teletext, radio and online. After long stints at the BBC, GMTV and ITV, he now specialises in motoring.

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