Two wheels or four? That is the question…

Logbook Loans advice on the cheapest transport…

We are living in uncertain times when it feels like everything is changing. With the combination of a new government, Brexit, and increasing concerns about the economy and the environment it can be really hard to make decisions.

Perhaps you are thinking of moving home – but is it the right time? If so, should you buy or rent? Is it worth looking for a new more interesting job or should you keep the safe one that you have? Should your son or daughter really go to college or Uni or would they be better getting an apprenticeship or job?

So many decisions to make, and another on the list is the kind of transport you have. If you are buying a car, would it be better to go for an electric car? After all, the government announced last year that by 2040, all sales of new petrol and diesel cars will cease in the UK as part of the strategy to tackle air pollution. So should we embrace that concept and start moving over to electric cars now?

Of course an alternative means of transport has always been the motorbike. Even if you have never ridden one before, might now be a good time to consider doing so – both for economic and environmental reasons?

Let’s take a look at the pros and cons of cars vs bikes.

 

The advantages of cars

  • They can be cheaper to buy than a good quality motorbike.
  • Cars are safer than bikes. Research shows that in a crash between a car and a motorcycle, the motorcyclist is 26 times more likely to be injured or killed than any of the occupants of the car. 
  • Cars can also be cheaper to insure than a bike, as motorbikes are often considered more dangerous than cars (though both car and motorcycle insurance premiums will vary widely depending on individual circumstances).
  • In a car you have more comfort and also protection against bad weather. 
  • In a car you have much more space to take people, animals or luggage with you on your journey. 

 

The advantages of bikes

  • Motorcycle training (CBT – the Compulsory Basic Training Course) and the full A2 test are all much cheaper than driving lessons and tests.
  • Bikes cost less to maintain and service than cars.
  • Bikes are usually more fuel-efficient than cars, so are cheaper to run and more environmentally-friendly.
  • Bikes require less space than cars, so are easier to park both at home and when out and about. 
  • Bikes often retain their resale value more than cars.
  • Last but not least – bikes have the “cool” factor!

 

So there are lots of pros and cons either way. Cars will generally cost more to run, maintain and service – but have the advantages of being safer and more comfortable and practical. Your choice of transport will depend largely on your circumstances as well as your budget, but do take the above factors into consideration when making your choice.

Whatever means of transport you choose, remember that Logbook Loans can offer you a logbook loan on any vehicle  – car, bike, van or classic car. As long as your vehicle is taxed, MOT’d and insured and clear (or nearly clear) of finance you could be eligible to borrow money against the value of your vehicle. Read more here about how to release money from your vehicle with the help of Logbook Loans.

Check back here soon for more financial and lifestyle tips from Logbook Loans