Motorists can save £300 a year by choosing a 'greener' car
Fri 01 February 2008
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Car drivers can save £300 a year by choosing a more fuel efficient car through lower fuel costs and road tax savings, according to a study by uSwitch the independent price-switching website.
Using DfT figures, researchers found that motorists doing 12,000 miles a year would save an average of £165 a year in fuel costs if they switch to the 'greenest' vehicle options available compared to a standard equivalent model from the same manufacturer. Savings of as much as £125 in road tax are also possible.
Over five years of ownership, the study found that 'green' drivers can save an average of £1,092 on fuel and tax compared with drivers of 'standard' cars.
The study also concluded that it is a myth that 'green' cars cost more to buy. In fact, the cars studied worked out £130 cheaper to buy than the standard equivalent, bringing the savings over five years to £1,222. 'Greener' cars were also shown to suffer less depreciation than standard cars.
A recent study for the Department for Transport concluded that consumers are willing to pay a higher purchase price for more efficient models. While impending European CO2 regulations are expected to increase the cost of new cars, it is possible that there could be a net financial benefit to consumers in the form of improved fuel economy and lower tax. There is growing evidence that consumers are becoming more willing to pay for these gains. (See associated LowCVP story link.)
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