One in three (34%) UK drivers say it is important to have a car under five years old, particularly for men (40% men and 28% women) and under 55s (42% under 54s and 25% over 55s).
The survey of 2,000 UK drivers, commissioned by InsuretheGap.com, a leading supplier of GAP Insurance (Guaranteed Asset Protection), also finds that one in three (34%) describe their car as part of their “personal image” (39% men and 29% women) and 30% are happy to go over budget for a car that “looks good” (38% men and 22% women), rising to 53% of under 34s.
Furthermore, over a quarter (26%) of drivers admit to being a car “brand snob” who will always stretch the budget to get a more prestigious car brand, with men (32% men and 20% women) and under 54s (41% under 54s and 8% over 55s) most likely to agree with this.
Two thirds of drivers (66%) would disregard certain brands regardless of the deal on offer, and three in ten would buy a new car rather than second hand to get the ‘new car’ look even if it cost a lot more (37% men and 20% women).
One in five (20%) say having a flash car impresses friends, with this feeling particularly high amongst 18 to 34 years olds (42%).
London drivers are the ‘flashiest’ region in the UK, according to the survey, coming out top for having a flash car to impress friends (55%), wanting a car under five years old (63%) and being prepared to go over budget for a car that looks good (59%). Almost eight out of ten (79%) London drivers also said there are some brands of car that they would never buy and describe themselves as a ‘brand snob’ (62%).
Ross Callander from InsuretheGap.com said, “Many drivers in the UK, especially younger drivers, see their car as an important extension of their personal image, and are prepared to go over budget for a car that will project the right image”.
He added, “For those people planning to splash out on a premium branded car, GAP Insurance is an important consideration.
“If a car is written off or stolen, the insurance company will usually only pay out the market value of the car, which after a couple of years can be significantly less than what was paid for it. Policies from InsuretheGap can protect drivers from this and may offer far better value for money than polices sold by the car dealerships.”