New research, released today by used car buying service ChooseMyCar.com, shows that nearly three quarters of 18-34 year olds are struggling to pay for fuel to run their car. This is a huge increase from six months ago, when earlier research showed that 46 percent were suffering.
The research was carried out after ChooseMyCar.com completed a larger study in April, showing that the 18-34 year old demographic was the most affected by the current cost of living crisis.
Despite the recent drop in fuel prices, the new research shockingly shows that 69 percent of this age group have been forced to borrow money to continue to run their cars. This is a 47 percent increase on six months ago – and the situation is only set to deteriorate as the cost of living reaches record highs.
Other worrying statistics from the study include:
- 29% of all age groups have been forced to borrow money for fuel
- Men appear to have been more affected than women, with 32% of men and only 24% of women asking for help from friends and family
- Glasgow was the worst affected city, with a huge 77% of those surveyed admitting to borrowing to pay for fuel
- Brighton and London were the next worst affected, with 38% admitting to needing to borrow from friends and family
- Plymouth was the least affected, with just 8% of those surveyed saying they needed support paying for fuel
Founder of ChooseMyCar.com Nick Zapolski, said: “It’s upsetting to see how the recent cost of living crisis has plunged young people into debt with family and friends.
“Our recent study showed that a huge amount of people need to keep driving to work or fulfil their responsibilities, so it’s very worrying that a large part of society is being forced into asking for help. We hope that steps are being taken to lower fuel prices, or at least keep them stable.”
To read the report in full, Choose My Car.