A third of over 50s have tried to reduce the cost of running a motor in recent years, including driving less and shopping around for the best fuel prices, data has found.
In fact, older drivers have cut their average annual mileage by a fifth since the financial crisis started – the average now stands at 5,389 miles a year, down from 6,561 miles, according to research by Saga Car Insurance.
Its comprehensive survey found that 48 per cent of motorists over 50 who are cutting back are using their car less, while 47 per cent hunt out the cheapest place to fill up.
Ditching the car: Increasing numbers of over 50s are driving less as motoring costs continue to riseThe results found that 36 per cent are leaving the car and walking more frequently – while 35 per cent have increased the amount which they use public transport.
It also found that one in 14 have started shopping for groceries online to avoid driving to the shops, while six per cent are cycling more.
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Women are happier than men to leave their car at home if it means saving money, the survey found.
They are the most likely to walk, catch a bus and also plan their journeys to reduce their monthly spend on their car.
In fact, searching for the best petrol prices and riding a bike are the only things that men are more likely than women to do, according to Saga.
Drivers in the North East are the most likely to cut back on motoring costs to free up some money at the end of the month, while the Welsh are the least likely to give up driving around in the comfort of their own car.
Roger Ramsden, chief executive of Saga Services said: ‘Older people are feeling the pinch and cutting back on driving, but everyone could save money and make the most of their journeys if they follow a few simple tips.’
Separate research from vehicle remarketing company BCA found three quarters of drivers worry about the price of fuel when it comes to motoring costs - and over a third are frustrated by the lack of action by the Government to tackle fuel prices.
Over a quarter say they now only purchase the amount of fuel needed, rather than filling up the tank on each visit to the petrol station – while one in four also search online for the cheapest petrol station before heading out to fill up.
With pressure on finances, the BCA research also revealed that motorists are taking their own steps to try to reduce costs – 29 per cent say they now only make essential car journeys, while 20 per cent said they use public transport more and 23 per cent walk more, similar to the Saga findings.
Changing to a more fuel efficient model also appears to be a growing trend with 15 per cent saying they have already taken this step. Nearly one in five have changed to a diesel car to cut motoring costs.
Top tips to get more miles for your moneySaga says that motorists can save hundreds of pounds a year by going back to basics. The below, it says, is based on 5,389 annual mileage in a 1.2 Ford Fiesta and an average petrol price of 137.87p.
Lighten the load - dump the clutter from your boot - on average. Saving: £28 a year. Shop around for the best fuel prices - best petrol prices can vary by as much as 14 per cent. Saving: £93.42 a year. Check tyre pressures - under-inflated tyres use more fuel. Saving: £41.50 a year. Don’t speed - keeping a steady speed saves on petrol. Saving: £146 a year. Cruise with the windows down rather than reaching for the air conditioning button on a sunny day. Saving £24 a year.Notify your insurer - if you’re driving fewer miles let your insurer know as this may cut your premium.PETROL PRICES FALL 2.5% IN THE PAST MONTHFour major supermarkets cut the price of petrol and diesel by up to 2p a litre on Saturday – making prices hit their lowest levels since January.
Asda, Tesco, Sainsbury’s and Morrisons all trimmed pump prices for the second time this in less than a week in response to lower wholesale fuel costs.
Supermarket cuts had already helped push the average price of petrol down to 136.89p a litre last week - 3.02p lower than a month ago.
With wholesale fuel prices falling, the AA says that average petrol prices could soon fall to about 134p a litre.
Edmund King, AA president, said the price reduction gave drivers ‘a breath of optimistic spring air’.
The average UK price for unleaded petrol has fallen 2.5 per cent in the past month – but represents only half of the fall in the wholesale price.