Millions of drivers concerned about car costs as coronavirus pandemic hits finances

The coronavirus pandemic is causing anxiety for millions of motorists who are worried about the cost of running their car.

A survey of more than 1,500 British motorists found that nine per cent were concerned about how they would afford their car insurance. Extrapolating those numbers for all UK motorists means almost three million drivers could be struggling to pay insurance. For young drivers, that figure jumped to 21 per cent.

With car buying largely done through financing, the survey also found that six per cent of UK drivers are concerned that they would not be able to afford their car repayments in the future.

However, when it comes to cutting costs, servicing and maintenance are the most likely to suffer. Fourteen per cent of motorists said their service was overdue, while 17 per cent admitted they were driving with a dashboard warning light or service reminder showing.

MOT guidelines during coronavirus lockdown
MOT guidelines during coronavirus lockdown

Meanwhile, 29 per cent said they had delayed repairs to their car, with that number leaping to 63 per cent for drivers aged 18 to 24.

Lee Griffin, CEO and co-founder of insurance comparison site GoCompare, which commissioned the study, said: "The coronavirus crisis has already had a huge impact on the economy and people's earnings, and many people are understandably concerned about meeting everyday bills, including the cost of running their car.

"When money is tight it can be tempting to delay or skip servicing or to put-off repairs. But this can be a false economy. If left too late, some problems can become more expensive to repair or can make the car dangerous and illegal to drive.

"If you are struggling with the cost of car finance or insurance, you should contact your provider. They'll talk you through the support available and may be able to help by agreeing to more affordable payment terms or by arranging to defer payments."