10 May 2024

High percentage of drivers own cars outright

Two thirds of Irish drivers own their car outright, according to a recent survey carried out by AA Ireland, writes Brian Byrne. And almost three out of four own a car that is more than five years old.

The latest AA Ireland Customer Opinion Survey also found that half of respondents drive no more than 10,000km a year, and six in ten motorists have paid less than €20,000 for their motor.

The Irish car parc is now close to 2.5 million vehicles, but only 4pc of respondents yet own an electric car, while 9pc are driving hybrids. When it comes to replacing their current car, most respondents are open to the idea of electrification: the majority (28pc) will be considering a hybrid, 26pc a diesel and 20pc petrol. 

An interesting result also suggested that 14pc of existing car owners will drive their cars until they reach end-of-vehicle life.