Virtually seven out of 10 motorists (69%) are frightened about petrol and diesel prices rising, in keeping with Startline’s January Used Automotive Tracker which surveyed 329 customers and 58 sellers.
The analysis additionally exhibits that 60% are involved about rising insurance coverage premiums, 47% are frightened about the price of shopping for a automotive and 42% are frightened about the price of servicing.
Paul Burgess, CEO at Startline Motor Finance, mentioned: “A lot of the prices concerned in operating a automotive have elevated fairly dramatically in the previous few years and motorists are most likely feeling the affect of this.
“Clearly, gasoline and insurance coverage prices have risen particularly and there’s a way that persons are anticipating extra of the identical, though there are fairly robust indicators that the costs of each have not less than stabilised and gasoline prices have even been falling recently.
“It’s attention-grabbing to see components similar to electrical automobile charging and the brand new tunnel costs talked about within the analysis.
“Certainly, the price of electricity has affected the cost of car charging in the last couple of years and for people who regularly use them, the tunnel tolls will have a definite impact on their overall cost of motoring.”
Different prices anticipated to extend embody repairs (41%), EV charging (32%), motor finance (30%) and tolls such because the Blackwall Tunnel and new Silvertown Tunnel (24%).
January 2024’s Startline Used Automotive Tracker confirmed considerations about automotive insurance coverage (73%), petrol and diesel prices (67%), the price of shopping for a brand new automotive (46%) and the price of servicing (34%).
Burgess added: “The outcomes for 2025 are fairly just like these for final yr and the underlying message, we imagine, is that motorists are most frightened about unavoidable motoring prices similar to gasoline and insurance coverage.
“Some people are choosing to save money by hanging onto their existing car for longer and in some cases deferring servicing or downsizing. Therefore, these costs represent less of a day-to-day worry.”
