Money News
Nearly 12 million Brits are opting to drive to a UK or European holiday destination this year in order to cut costs and stress levels, according to new research by AA Personal Loans. It reveals that almost half of Britons (46%) are choosing to spend at least one of their holidays within 'driving distance', with 22% of them directly blaming the credit crunch.
And even though two thirds of AA members have indicated in a separate study that they have either cut back on journeys, reduced household expenditure, or done both due to the high cost of petrol and diesel, this does not seem to be affecting their plans for using the car for holidays, says the survey. Priorities also appear to be shifting between money and the environment; last year 17 per cent of Britons were considering a UK break for environmental reasons - a number that's now down to just 5 per cent.
Mark Huggins, Head of AA Personal Loans, said: "Our survey shows people are being smart with their money when booking holidays this summer. People are also thinking carefully about buying smaller cars to save money but it is important to make sure the car you choose is suitable for going on long holiday journeys, with enough room for all your passengers and luggage. A third of car buyers use a personal loan to buy their car - so make sure you get the best deal for your car finance too."
He added: "If taking your car on holiday, give the car a check over, make sure your tyre pressure is correct for the load you are carrying, stick to speed limits and use your air-conditioning sparingly - this will make a big difference to how much you spend on fuel."
04 July 2008 © Moneyextra.com
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