The ongoing cost of living crisis is causing a third of drivers to hold on to their cars for longer, a new survey has found.
Research by WhatCar? found that 34.5 per cent of drivers have held on to their current car for longer than intended as a result of rising costs, while of those that have remained with their present vehicle, 65.8 per cent said that they’ve kept it for more than six months longer than originally intended. Some 21.4 per cent said that they’d kept it between three and six months longer.
Steve Huntingford, editor, What Car?, said: “The UK’s new car market is still below pre-pandemic levels. Buyers holding on to their current vehicles for longer or switching to the used market is slowing down the much-needed recovery.
The research also revealed that 12.8 per cent of owners are considering doing some form of vehicle maintenance themselves in order to save money.