Millions of Brits consider selling their own cars to join the car sharing revolution

Almost 1-in-5 car owners (19%) in Britain would consider selling their car if they could borrow one instead, a poll by leading temporary car insurance provider, Cuvva has revealed.

There is a growing demand for car sharing. 16% said they would lend their car out if the borrower had their own insurance, and if they could charge a fee.

With more than 32 million cars registered in Britain, the data indicates millions of people could be considering a revolutionary new way of getting around.

With the cost of living crisis continuing in Britain, and the cost of owning a car a particular concern for many people, car sharing is fast becoming an alternative, low cost option.

Car sharing can be a more affordable option for people trying to save money while still having access to a car, with no need to shell out for annual insurance policies, services, MOT’s or car tax.

It’s also a greener option. With less raw materials needed because of a lower demand for new cars, more parking availability and quieter roads, more thought given to each journey and whether it’s needed, and fewer emissions as a result.

Drivers can access cars they don’t own by simply buying a stand alone temporary insurance policy to borrow a car from a friend, family, neighbour or colleague.

Cuvva’s survey found the average British driver is now spending £145.27 per month on their car, between car insurance, repairs, fuel, parking fees. It comes as Britain battles a cost of living crisis, with the cost for many goods and services rising.

12% of drivers are spending £250 or more per month – an eye-watering figure that equates to £3,000 per year.

Darryl Bowman of Cuvva said: “As Britain battles a cost of living crisis, one way drivers can look to reduce their spending is through car sharing.

“Short-term car insurance is a great way to get insured in minutes on any car you want to borrow for a few hours. You can save hundreds or even thousands.

“We have seen a massive uptake in car sharing during recent years, as more and more people are borrowing other people’s cars.

“Not only are people borrowing and lending cars with their immediate family, they’re also turning to extended family, friends and neighbours in their network too.

“Cuvva saw 66% year on year growth in September this year, compared to the same period in 2022.

“We have also seen an increase in customers over 40, as more people share the family car and save or borrow their children’s cars instead.”