The driving experience can change significantly from place to place. This is true of its associated costs, too.
Moreover, most people know that many things are more expensive in London. At the end of 2020, the capital was the sixth priciest city to live in, highlighting how costly things can be there.
Driving in London can seem like an unnecessary expense. Still, if you’re aware of some of the costs, you may be able to budget accordingly or plan your routes more cost-effectively.
Here are some of the costs of driving in London.
Insurance Changes
London is famed for drama on the roads. While traffic typically moves slowly at rush hour, there can be bouts of road rage and chaos at any time. Higher rates of crime and car theft may take place there too.
These types of factors can all affect insurance premiums. Therefore, it’s reasonable to expect a bit of a price hike in the area. While it can be a cause for concern, it’s important to remain as level-headed as possible, as these expenses can sometimes be mitigated.
Insurance costs can be controlled effectively with a reliable quote comparison service. That way, you can find the best car insurance companies within your price range. Working with Quotezone.co.uk, you can compare over 100 providers and save up to £290. There are also opportunities around cashback and rewards. They can also help you find cheaper car insurance in London specifically, so click their link to those resources for a more tailored service too.
The Congestion Charge
Everyone is welcome to drive in Central London, provided they pay a toll first. Whether that fee is worth it is up to you.
There’s a £15 daily charge if you drive in the London Congestion Charge zone. It applies on weekdays, weekends, and bank holidays. However, while these costs can quickly mount, you may be able to plan around them. For weekdays, the charge is in effect are 07:00 am – 18:00, while on weekends, it’s 12:00 – 18:00. There’s no charge between Christmas Day and New Year’s Day.
The area started small with plans to expand in late 2020, provoking the ire of many London drivers. While the idea was to put drivers off cruising through the capital at busy times of day, it ultimately promoted anger and incited people to sign petitions in protest. If you can’t afford these costs, try to drive through Central London sparingly or attempt to park in an outer borough and get public transport, or even cycle. Hopefully, that will help you to control the costs.
Parking Fees
Road users often can’t park for free. In London, however, costs will likely be incurred nearly every time you park.
The parking fees can also be exponential, with new research discovering that it can cost London drivers nearly £3,000 a year to secure their spaces. Some people would attempt to buy garage units in the capital to save money on a long-term investment, but the purchase can run up into the hundreds of thousands too.
Once again, the proposed solutions for evading the London Congestion Charge may be applicable here too. If you’re willing to be flexible with your journeys, there might be room for savings.
