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Transport beats rent as worst expense for Londoners

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• 45% of Londoners find transport the most discouraging expense of living in the City
• New Years resolution to review transport use could net £5000 a year

London, 21 Feb 2008 – It’s official: Londoners confirm transport expenses are the most discouraging expense of City living, compared to rent, eating out and house prices, according to a poll by YouGov, commissioned by the world’s largest car sharing club, Zipcar. The research revealed that nearly half of Londoners (45%) believe transport - including car ownership, car parks, parking fines and public transport is the most discouraging expense, with 39% citing rent and property prices.

The research also looked at what Londoners would do if given an extra £500 a month, just £50 more than the amount Zipcar estimates Londoners spend on car ownership*. Surprisingly over 70% would invest in savings, almost twice the number that would spend it on holidays (39%) and more than four times the number who would spend it on partying (15%) and/or charity (14%).

And bucking the stereotype 41% of female Londoners said they would spend an extra £500 a month on home improvements, with 39% preferring holidays.

Paul McLoughlin, general manager of Zipcar UK, said: “Londoners are put under financial pressure living in the second most expensive city in the world, fuelled by the priciest transport system on the planet. It is clear that Londoners resent paying a lot of money for travel and are keen to make savings wherever possible. With car related costs averaging £450 a month, Londoners can really make a saving by deciding to relinquish owning a car, as well as actively control their carbon footprint.”

“This time of year is great to set resolutions and for Londoners to take a look at how to save money on their transport expenses.

Other findings from the study include:
•  22% of London women considered the expense of public transport most discouraging, as compared to 16% of the men polled
• 29% of 18-29 year olds are more likely to spend an extra £500 on home improvements (26%) as compared to 24% who would spend the cash on socialising

-ENDS-

Notes to Editor
*Figures sourced by Zipcar

About Zipcar

Zipcar is the world's largest and fastest growing car CLUB, with more than 180,000 members and 5,500 vehicles in major metropolitan areas and UNIVERSITY campuses, including Boston, New York, Chicago, San Francisco, Washington, DC, Vancouver, Toronto and London, England. As a leading urban lifestyle brand, Zipcar provides a convenient and cost effective transportation alternative for individuals, businesses and universities in 50 cities throughout North America and the United Kingdom. For more information, visit www.zipcar.co.uk

Zipcar provides cars for use by the hour and can save members an average of £450 per month on car related costs. It provides access to more than 200 vehicles charged at an hourly rate starting from £4.95 or £35 a day. Each reservation includes the congestion charge, MOT, petrol and fully comprehensive insurance. 

About the survey
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 476 Londoners. Fieldwork was undertaken between 25th-31st May 2007. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).