The average driver (67%) spends up to £2,999 every year on their car*, according to latest research** from Age UK Enterprises, the commercial services arm of Charity Age UK. While price is the most important factor when choosing a car with one in four (23%) opting for the cheapest, most drivers then spend a significant amount every year running it.
The UK is a nation of car owners with two thirds of all adults owning a car. This increases with age with four out of five (81%) of 55 to 64 year olds owning a car. Men (69%) are only 5% more likely to own a car than women (64%).
The costs of owning a car can account for a significant proportion of annual outgoings, but most drivers fail to do the simple things that could help save money, such as shop around when buying car insurance. Two thirds (63%) admitted staying with their current car insurance provider the last time they renewed their policy. This percentage increases further with age, to 70% for the 60 plus, as older drivers tend to be even more loyal and less likely to shop around for the best deal.
Gordon Morris, Managing Director of Age UK Enterprises, said: “Despite the economic downturn, the UK remains a nation of car owners with those in later life the most likely to have a car whilst spending a significant amount every year maintaining it. While consumers are cautious about price when they buy their car, too often they don’t take action during its lifetime that could save them money.
He continued: “With the cost of running a car soaring every year, we encourage every driver to review what they currently spend on their car, and particularly their insurance cover. Consumers must shop around and ensure they have the information they need to make an informed choice, buying only what provides best value and appropriate cover for their needs. However, they also need to consider that some providers offer low initial prices which then rise sharply on renewal or come with high excess, making the need to shop around even more essential. ”
Age UK is committed to helping older people make the most of their money and the motor insurance product is designed to best meet the needs of those in later life, offer value for money and excellent customer service.
The Age UK Car Insurance has no upper age limit, or hidden fees whilst also offering a no claims discount option. Customers can pay by monthly instalment at no extra cost. In the event of an accident a message relay service is also available meaning a friend of relative can be contacted so they are aware of the customer’s situation. All this helps to ensure that with people living longer and healthier lives adequate motor insurance cover is available to help people enjoy their retirement.
Fairytale of New York voted top Christmas driving song! - 06 December 2013
Bring back road safety targets, says IAM - 25 September 2013
Breaking snooze - 20 May 2013
Age no obstacle for driving confidence - 15 May 2013
Drivers texting will now face increased fine - 10 May 2013
Campaigns & Issues
Oldest old ‘not a drain on society’
ILC-UK responds to 2011 Census data on the oldest old published today
David Sinclair, Assistant Director, Policy and Communications at ILC-UK, responding to the results, said:
"This new evidence reveals that 8.8% for those aged over 85 are still caring for someone. And half of these older carers are providing support for more than 50 hours a week.
The Elders honour the memory of their Founder, Nelson Mandela
The Elders are deeply saddened by the death of their founder, Nelson Mandela. They join millions of people around the world who were inspired by his courage and touched by his compassion. All will mourn his passing.
Mandela – or Madiba as he is known in South Africa – called the Elders together in 2007, urging them to be bold, independent and to speak the truth. He told them to be a robust force for good, and to work in the interests of peace for all humanity.
Competitions & Fun
Fairytale of New York voted top Christmas driving song!
With the festive season fast approaching and Christmas songs becoming a daily feature of radio station playlists, a 1st Central Insurance survey reveals The Pogues' Fairytale of New York is the nation's favourite Christmas song to drive along to.
Whilst drivers surveyed found the radio the least distracting in-car activity compared to mobile phones, children, satellite-navigation systems and chatting to passengers; 1st Central is cautioning motorists to remain focussed whilst behind the wheel this festive season.
Win one of 31 fabulous travel treats from Silver Travel Advisor this December
Enter now and you could win one of the 31 travel treats from our Christmas Stocking.
Silver Travel Advisor is a friendly website packed with advice, tips, information and honest reviews written by and for silver travellers (aged over 50). A team of advisors are on hand to answer queries (for free), and you can share your own experiences too.
Health & Wellbeing
Winterproof your skin
Radiant, glowing skin can be yours whatever the weather. We let you in on some expert secrets
The weather has a huge impact on how you look and feel and the secret to healthy glowing skin is to adapt your skincare regime according to the season. Follow these steps and your skin will repay you with a gorgeous glow that will last right through to spring.
At this time of year cold harsh winds and the drying effects of central heating can wreak havoc on your skin and it may need extra hydration to give back what Mother Nature takes away. ‘The lipid layer, the outermost layer of the skin, needs to be protected to create a barrier that keeps natural moisture intact and stops it from escaping,’ explains dermatologist Victoria Pugh.
Property & Finance
Costly Christmas Needs Careful Budgeting
Nearly a third of Brits won’t be able to make November’s salary last until Christmas
Only 26 per cent have budgeted for the festive expense
The Christmas countdown is on and with three weeks to go, Britain’s number one comparison site MoneySuperMarket.com reveals nearly a third (30 per cent) of Christmas spenders won’t be able to make their November salary last to fund the festivities.
Leisure and Lifestyle
Joyce Glasser reviews Frozen
Frozen is seasonal, family entertainment at its best with Executive Producer John Lasseter (UP, The Incredibles, Ratatouille, Brave) working his magic once again. This combination of romantic comedy and musical adventure story was inspired by Hans Christian Andersen’s 1845 fable, The Snow Queen and features, at its core, an unusual, schmaltz-free sisterly bond.
That might be because the film is co-directed by Chris Buck and Jennifer Lee, with Lee, the first female director of animation in Disney’s history, in charge of the script. It’s hard to imagine any demographic that won’t be drawn to its varied characters, settings, and superb 3D animation, not to mention its wise messages and music.
We've got money to spend and an appetite for adventure...
Holidays are for people with lean, tanned bodies. For twentysomethings with wires in their ears and huge bags on their backs.
For thirtysomethings with kids towing irritating 'Trunkies' across crowded arrivals halls. Or for fortysomethings in family groups talking loudly in ra-ra voices on the transfer bus, as if the rest of us don’t exist.
I’m so pleased you actually listen to our comments!