Older drivers set to ditch owning cars in major 2024 UK road change
Older drivers are prepared to ditch their cars as part of a major UK road overhaul next year, according to new data.
Analysis from GRIDSERVE shows that motorists aged 55 to 64 were among the most likely to want to give car leasing a go to save money.
The analysis reveals that 48 percent of respondents were intrigued by the minimal maintenance costs compared to owning a petrol or diesel vehicle.
Road users aged 55 and older were also the most likely of any generation to want to lease their car to avoid it depreciating in value.
Those above the age of 65 were the most clued-up generation on car leasing, with 93 percent aware of the scheme.
READ MORE Families of older drivers urged to encourage them to give up driving licence
Furthermore, a whopping 90 percent of 55-64-year-olds knew about car leasing with this age range interested in the flexibility.
A staggering 40 percent of drivers above the age of 55 were interested in being able to try out a new car every two or three years.
GRIDSERVE shows there has also been a surge in demand for vehicle leasing among the younger generation.
A staggering two-thirds (69 percent) of 18-24-year-olds want to lease their next car with benefits such as lower costs and the chance to drive new cars among the positives.
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Rob Buckland, Chief Leasing Officer at GRIDSERVE, said: “It’s great to see the increasing popularity of car leasing amongst younger people, with many being drawn in by its benefits to the environment. Car leasing is a great way to provide people, especially young drivers, with cars such as electric vehicles that they may not be able to access otherwise.”
“There’s never been a better time to take advantage of the benefits of leasing to go electric. Every GRIDSERVE lease includes three months of charging included to be used at over 170 locations on the Electric Highway, making electric vehicle charging easier than ever.”
According to AllCarLeasing, many elderly road users above the age of 65 will be accepted for a personal leasing contract.
Applicants must undertake a credit check before being accepted but pensions are not likely to be an issue.
Being altered does not alter a credit score meaning pensions are “no more likely’ to be declined than other applicants.
However, the experts warn that an older motorist’s driving licence could still play a part in any application.
They commented: “The only factor to consider when signing a contract is ensuring that the driver’s licence is still valid.
“Drivers over the age of 70 will automatically have to renew their licence every three years to ensure they are still capable of driving a vehicle. This law is in place to protect both the driver and other road users.”
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