£100 Billion Nest Egg on Britain’s Driveways

New government figures show that the wealth of the nation is not just in peoples’ homes, but parked outside.18 million UK households own at least one car worth a combined £100 Billion. 

The Wealth and Assets Survey published by the Office of National Statistics on 15th May estimates the wealth of the UK population in terms of the assets they own.

We have highlighted an important component of personal assets; the car. The average value of a car used by government is £5,000 but figures don't include multi-car owning households.

Bugatti Veyron - More than £1 Million

The equity UK motorists have is overlooked by most commentators, and is a major component of wealth in the UK.

UK car buyers are underserved when it comes to finding out information on the best cars to buy.

Top Gear presenters Clarkson, May and Hammond focus on looks and performance but, from a wealth point of view, motorists need to know which cars hold their value, the models that cost less to run and those with the best reliability.

There are over 32 million cars registered on UK roads. Whilst a number are owned by companies and leasing organisations, the majority belong to the public.

The demographics of car ownership have changed. Department of Transport statistics published in April 2014 show Women bought 1.6 million more cars in the last 10 years whilst men owning cars has only grown by 600,000.

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Our further analysis mined from millions of lines of data published by government reveal the biggest growth in car ownership is among women aged over 50.

Britain’s mobile wealth is not only confined to cars. Information published includes details of boats, caravans and motorbikes worth another £40 Billion.

Personalized number plate ownership has increased by 8% in the last 6 years. 1.5 million people have a number plate which means something to them, their friends and their pockets.

Whilst the government wealth survey is informative, figures issued do not necessarily reconcile with those published by other government departments such as the Department of Transport. The total value of Britain's cars is far higher as many houses have more than one car.

The disparity between people who have a car and those who don't has fallen slightly with 25% of the measured population not owning a car. A more detailed analysis reveals that city dwellers have seen car ownership drop whilst people in rural areas have been forced to buy a car because of falling public transport availability.

Our car review site holds the views and reviews of over 540,000 motorists and gives an insight into key costs of ownership – fuel economy and reliability – and is available free to motorists.

In cash strapped Britain, hardworking motorists are advised to read reviews and views of cars by the most important people: car owners who have lived and paid for a car over the long term.

Billion Dollar Rush for the Digital Driver

With the $2 billion rush to buy Cars.com, the Digital Driver’s voice has never been more valuable. Now we're targeting one million car reviews in 2014 giving more drivers more power.

Digital Drivers now outnumber all other car buyers. According to McKinsey & Co.'s report on the future of car retailing, 100% of used car buyers and 80% of new car buyers do their research for their next car online.

Cars.Com - Going, Going, Gone?

The importance of Digital Drivers is underlined by the potential sale of Cars.com in the USA for over $2 Billion, as reported on 12th March by Bloomberg.

Investment in showrooms and marketing campaigns to entice motorists in to meet car salesmen is being eclipsed by the money pouring in to online automotive sites which are now the starting point for most car
buyers.

Word Of Mouth Beats Spend On Ads

‘Word of Mouth’ is recognized by most marketers as the Holy Grail – harness that and success will follow. Now Digital Drivers have Google and the specialist automotive sites at hand but are increasingly looking to other people’s opinions on a car’s reliability, economy, driving experience and if other owners would recommend their car.

Unlike the travel sector where online reviews like TripAdvisor have become essential, the automotive sector has been behind the pace and independent and authoritative review sites have been slow to evolve.

WeLoveAnyCar.com - More Digital Drivers

WeLoveAnyCar.com has over 500,000 driver views on its car review site and now plans to recruit another half a million reviews in 2014. It will only allow proven owners to submit a review to maintain the integrity and independence of the review site – building trust among all Digital Drivers.

A spokesman for WeLoveAnyCar.com said, “With the potential $2 billion purchase of Cars.com, it seems that the money men, if not the traditional automotive sector, are recognizing that the car buying process has changed for good. Digital Drivers start their search at home or in the office. They are using information they can trust – and that will increasingly be available from other car owners. That’s why we’re investing so much in doubling the size of our world beating car review site.”

Look For 'Digital Diligence' 

In the next few months, WeLoveAnyCar.com will be contacting car owners to join the Digital Driver revolution by submitting a review on the car they own or have owned in the last 12 months. In order to ratify any reviews, they will also ask other drivers – of the exact same model – to say if they agree or disagree with the review someone else has made. This process, called ‘Digital Diligence,’ means that potential buyers can weigh up the value of each review they read.

Top Ten 'New Age' Status Symbols for Flashy Singles

WeLoveAnyCar.com highlights a dramatic decline in car ownership in cities. Rich singles are adopting new age status symbols to let people know they are not missing the Maserati.

 

Top ten new age status symbols for flashy singles

 

1. 

   Diamond and gold encrusted iPhones, a new status symbol 

   Ring-a-Bling – diamond and gold encrusted iPhones
2. Black Beauties – Unlimited ‘black’ credit cards
3. BOB’s – Big Outrageous Bags
4. Fitted Up – Designer ware, made to order
5. Elton Extras – Glasses from Gok to Gucci
6. My Club – Membership of a Private Members Club
7. Wealthy Watches – One for work, one for rest and another for play
8. Work – Nose, boobs, hips, pecks, tummy tucks and pimples
9. Wine and Dine – by price, not taste
10. Doodle Poodle – obscure cross breed dogs (or a pooch in a BOB)

According to Buckingham University research, car ownership in cities has reduced from 30% to 26% in a trend supported by increased city dwelling and greater access to public transport.

 

In the past, a Porsche parked outside a pub or a Bentley key fob placed strategically by ‘ladies who lunch’ was enough to convey status.

 

Flashy singles and younger couples are increasingly unlikely to own a car but still have the cash, and the need, to show they are one place above their friends and colleagues by adopting 'New Age' status symbols.

 

According to the Max Planck Institute of Economics, the wealthier the individual, the less likely they will be to see status symbols as luxuries and more as necessities.

 

New status symbols to let people know they are not missing the Maserati

Nevertheless, when someone slaps down their ‘Black Beauty’ (an unlimited credit card) or walks an expensive ‘Doodle Poodle’ (a rare and costly cross breed dog), they are sending out signals to others that they have a position – quite possibly better than others.

 

Cities in all developed countries are becoming more populated with the wealthy, car-less, young. This trend would seem to be temporary. Eventually many singles become couples and, although new parents are getting older, new families face reality and move further away from city centres and buy a car to suit their new lifestyle.

 

For over 100 years the car has been a status symbol and not only for the rich. A neighbour with a new Ford Fiesta in a run-down area is displaying his status just as much as someone who spends ten times more on a Ferrari to show off to their friends at the golf club.

 

The WeLoveAnyCar car review site shows Alfa Romeos as some of the worst rated for reliability and they are not inexpensive. However, the same models are rated some of the most ‘fun to drive and great to own’. Cars will always be about taste, style, status as well as safety, reliability and economy.

 

No matter what car someone owns, the likelihood is that they will keep more value than a 'BOB' and could cost a lot less than the 'Black Beauty' credit card which will eventually have to be paid off.

 

Image source: Weloveanycar.com Gallery and ibnlive.com

 

 

'Internet Drivers' Are A Growing Danger - Call To Cull Browsing On The Move

Legislation, research and the press are united - texting in cars is dangerous. WeLoveAnyCar.com believes internet browsing will outpace texting and is calling for browsers to be disabled for drivers on the move.

 

Smartphones such as iPhone and Samsung Galaxy generate more internet traffic than desktops - allowing users to 'Facebook', email and browse other pages like dating sites on the move.

 

WeLoveAnyCar.com tracked use of their sites by people on the move and found a number using their site whilst moving quickly.

 

A spokesman for the biggest car review site in the UK said, "Like all companies with a sophisticated internet site, we can track usage where we have the user's permission. We found that a small number of users seemed to be moving very quickly. Whilst users could be on trains and passengers in cars we have to consider some users may be using their smartphone whilst driving."

 

WeLoveAnyCar.com is considering building in a safety feature that detects when a user is on the move and warns them of the dangers of browsing whilst driving. The system may even disable mobile access if they are traveling more than 10 mph, if technically possible.

 

Google, Facebook, Twitter - they all have the resources to make our roads safer.

 

The Manchester based car site is now calling for the largest Internet companies to follow suit and develop systems which, at the very least, asks 'internet drivers' to consider the dangers of updating their Facebook statuses or reading emails whilst in charge of a car.

 

The site's spokesman continued, "Google, Facebook, Twitter - they all have the resources to make our roads safer. Technology will always outpace legislation and we should develop new features to help drivers focus on the road ahead."

 

Restricted use of technology on the move is not new. Modern in-built SatNav systems disable many features if the car is in motion.

 

Brake, the road safety charity, urges divers to 'Drive Smart' and recommends that phones remain out of site, out of reach, in the car. Whilst that is the best advice, the adoption by internet companies of measures to restrict use can only help where drivers feel 'separation issues' from their phone whilst on the move.

 

WeLoveAnyCar.com, which has more car owner reviews than any other place on the internet, believes the feature should become an industry standard and that will require the industry leaders and ISPs to agree on a user friendly way to enable greater car safety, whilst ensuring consumers have the ultimate choice.

 

Image source: Appolicious

Top 10 Most Expensive Cars For a Billionaire’s Christmas

WeLoveAnyCar.com launches site for top earners to find the top ten cars by price – just in time for Christmas stocking fillers.

 

Whilst most people stuff their stocking with cheap fillers in the last days of Christmas, there’s still time for billionaires to do the same – by buying a super car at unbelievable prices. 

 

WeLoveAnyCar.com has launched a site to help all motorists find the best car for them by price. The most expensive currently available to the public is the Ferrari Berlinetta for just £238,232

Ferrari FF £226,982 - 5th On The List

 

 

 

 

The 10 Most Expensive Cars

 

1    Ferrari F12 Berlinetta £238,232

2    Bentley Mulsanne 6.8 V8 Mulliner £237,710

3    Rolls-Royce Ghost £231,980

4    Rolls-Royce Wraith £228,800

5    Ferrari FF £226,982

6    Ferrari 458 Spider £198,835

7    Aston Martin Vanquish £192,990

8    Aston Martin DBS V12 Volante £191,699

9    Lamborghini Gallardo LP 570-4 Performante £190,200

10    Mercedes-Benz SLS 63 £175,865

 

You Could Buy 363 Dacia Sanderos for 10 Top Ten Supercars

 

 

 

 

 

The list is an exclusive club of its own with three types of Ferrari, two Rolls Royces, two Aston Martins followed by a Bentley, Lamborghini and a top of the range Mercedes SLS. The total cost for all 10 – over £2 million.

 

The cheapest car found was a Dacia Sandero at £5,815. That means for the price of 10 supercars you could get over 363 Dacia’s - almost one for every day of the year.

 

The WeLoveAnyCar.com new car site can also be searched by MPG – perhaps more important to people on a slightly more restricted budget. The little Alfa Romeo Mito claims an astounding 97.4 MPG (extra urban) compared to a Bentley Mulsanne at 24 MPG.

 

A spokesman for the Manchester based site said, “We found it astounding that there isn’t one site that allows prospective buyers to look at all these factors and compare price and MPG. We also add ratings by over 108,000 drivers so they can look at comfort, reliability and other key factors which are important to a motorist and their pocket!”

 

Now that Christmas is close it remains to be seen if even a billionaire can get the car he wants. At least for the year ahead, where car pundits say new car sales will rise on the back of a better economy, prospective car buyers have the means to choose the best car for their needs.