One in five people now change their car because they’re bored with their current vehicle, claims new research.
The survey also revealed that finances are a big factor when it comes to deciding on a new car, with 43% switching as a result of sky high repair bills.
Car leasing specialist, UK Carline, polled 1,000 drivers who own or lease a car in the UK, looking at how often Brits renew their cars and the reasons for getting rid of their old ones.
Top five reasons for changing cars
- Previous vehicle cost too much in repairs (43%)
- Previous vehicle cost too much to run (24%)
- Wanted to drive the latest models (21%)
- Got bored of previous vehicle (20%)
- Wanted to keep up with the latest technology/features (14%)
More than one in five (21%) Brits admit to buying a new car every two years, however it is Londoners who renew their car the most frequently, with 45% of those surveyed in the capital stating they buy a new car every two years or less.
Drivers aged 18-34 change their vehicles the most often, with one in 10 (11%) switching their car every 18 months – more often than many people change their phone contract.
When it comes to paying for their new cars, almost half of Brits (48%) buy the vehicle outright, while 18% opt to finance their car through Personal Contract Purchase (PCP), 8% through Personal Contract Hire (PCH) and 12% through a hire purchase (HP).