The average car owner manages to enjoy just nine hours a week behind the wheel of their motor, a new study has found.
Research revealed that while many are proud of the vehicle they own, the amount of time they actually spend enjoy driving it on the open road, and getting their money’s worth, is minimal.
The rest of the time – around 159 hours per week – cars are left sitting idle on the driveway, in the garage, in a car park or outside their place of work.
The research was conducted by new peer-to-peer car-sharing marketplace, Turo – “the Airbnb of cars” – which also highlighted the perils of depreciation.
It claims that a car which costs £14,217 new now loses 60% of its value over the first three years at a rate of £2,843.33 a year.
That means leaving an average car, which has done around 10,000 miles a year, parked up outside will effectively see its value drop by around £50.88 a week – or 32p for every minute it is motionless.
In addition, the average Brit’s car will cost a further £1,118 each year in servicing, MOTs and other upkeep.
“Many of us are happy to spend a small fortune on our cars, it’s often one of the biggest investments we make,” said Xavier Collins of Turo. “Yet, despite all this, we never truly release their full potential.
“I think we’re starting to see a trend in consumer behaviour as they look to the sharing economy to provide them access to the resources they require, but don’t own.
“For the vast majority of adults, their car sits unused for most of its life.”
The study also revealed that two in five Brits have gone two weeks or longer without using their car, usually when they’re on holiday.
Despite admitting their cars are often left idle, two thirds of respondents, surveyed by OnePoll.com, felt they wouldn’t be able to get by without their motor.
“Cars have, for too long, been our most depreciating investment, but that doesn’t have to be the case anymore,” added Xavier of Turo.
“We are motoring enthusiasts and love our cars too, so we understand owners concerns about sharing out their prized motors.
“We set up comprehensive insurance cover that gives each host the security and peace of mind to put their car on Turo.
“The average host on Turo can earn more than £500 a month. We are used to earning back from our houses when they are not occupied, so why not do the same with our cars?”