Motorists considering ditching car to save money

As rising levels of inflation continue to hit consumers in their pockets, new research has discovered that 1.3 million motorists are considering selling their cars to combat the problem.

Many motorists are looking to complete some sort of measure to raise needed funds and as the price of fuel continues to rise and hikes in car taxes are around the corner, vehicle drivers are mulling over whether to get rid of their car.

Research from Abbey Mortgages found that 86 per cent of Brits are going to do something to raise extra funds, including selling the car, taking on a second job or volunteering as a medical research subject.

Motorists looking to reduce their motoring costs are advised to shop around for their car insurance, with recent research from Gocompare stating that the average driver could save £222 on their car insurance by seeking out a new car insurance provider.

Phil Cliff, director of Abbey Mortgages, said: "Careful financial planning and budgeting can help combat the effects of rising inflation, and everyone should ensure that they are shopping around for the best financial products."

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