Owning and driving a vehicle involves expenditure and people with low income find it difficult to own a vehicle. The poorest people who have cars spend most of their income on maintaining their car and paying the expenses related to it. Car insurance makes the biggest part of the expenses and with increasing car insurance premiums, poor find it hard to keep the vehicle and take it to the road. People who are better off and have a steady source of good income will not find it difficult to afford the car insurance but this is not so with the poor people. This fact has been brought out by a new research.
This survey was done by RAC foundation and the research showed that almost 50% of the houses that have low income have to spend 17p out of every pound on their car and other expenses related to it. People in the group who have lowest earning have to pay the highest amount for the upkeep if the car. This is not the case with other sections of the society. Another problem that arises in front of the poor is that they cannot have an option to switch to cheaper alternatives as they have the oldest cars which are the cheapest. If the cost is high for them, they cannot exercise choices.
Having a car and driving a car has become a necessity for most of the people in this world and the people who are wealthy spend more on their cars, the poor end up paying the most part of their income to this. The poor should try to lower down the costs involved with the car insurance so that their overall expenses can be less. Finding the right insurance policy from the car insurance supermarket can help them save money.
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