A recent study found that one in five drivers have abandoned their car due to rising household bills and the cost of living crisis. Almost a third of drivers say they drive less now to cut costs, with young drivers particularly affected.
Surprisingly, 19% of survey respondents said they had to dip into their “rainy day” savings or even take out a loan to cover the day-to-day running costs of their car.
Two-thirds of all UK drivers agreed that the rising cost of living has made owning a car more difficult.
A further 68% worried about being able to afford fuel for essential journeys like commuting to work or running to school.
Kevin Pratt, car insurance expert at Forbes Advisor UK, has warned drivers of the potential consequences they risk trying to save money.
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A third of drivers said they were actively driving less in a bid to cut car costs, with 13% asking employers for more flexible working and a quarter reducing all non-essential journeys.
Some drivers admitted to taking risks to cut costs, with 16% skipping essential car maintenance like replacing worn tires and dropping services.
Another 15% said they entered false information on an insurance quote, in an attempt to get a lower premium.
This involved saying they parked on a drive or had less annual mileage than was actually true.
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Deliberately misleading an insurer can result in invalidation of the policy and denial of claims.
If a motorist tries to do this, it may be much more difficult for them to obtain car insurance in the future.
Mr Pratt added: “Entering inaccurate information on an insurance application is also a no-no.
“You could save a few pounds, but you could find yourself without a valid insurance policy if you have to make a claim, and the effects of that could be ruinous.
“Much better off shopping around for a cheaper quote as part of a money-saving campaign on all your household finances.”
Fuel prices are also having a major impact on drivers, with rising costs forcing motorists to think about their driving habits.
According to RAC Fuel Watch, average prices for unleaded petrol are around 165.75 pence per litre, with very little fluctuation in recent weeks.
By comparison, diesel is almost 25p more expensive per liter than petrol with average costs reaching 189.27p.
Although prices are not as high as the record highs seen in June and July, many experts fear that prices could rise steadily again.
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