Save money with pay-as-you-live

If you’re a keen follower of everything Zipcar (admit it, we know you are!), you might remember that last year, we launched some research into the “Pay-As-You-Live” lifestyle. We looked at the emergence of a new generation of “smart consumers” who choose to hire or share goods and services – such as your trusty neighbourhood Zipcar – instead of purchasing and owning them outright.

The research seemed to strike a chord, so this year, we’ve done it again. Only this time, we took it one step further, to identify the tangible cost savings that average Brits can experience when they take part in the pay-as-you-live lifestyle. Together with YouGov, we surveyed more than 2,000 UK adults on their renting and sharing habits. It shows that mainstream Britons, including families, are embracing the mindset of the shared/rental model.

The 2013 report, “Pay-As-You-Live 2013: How the UK Sharing Economy Puts Money in Your Pocket” is full of cool facts and figures**, including:

  • Cash savvy Britons could pocket a massive £12.4bn in savings by embracing the “pay-as-you-live” economy and shunning traditional ownership of good and services
  • Nearly half of the population (47%) now rents and/or shares goods and services, generating an average saving of £531.10 per person – with the money commonly put aside to help offset rising food and energy bills
  • The most popular reasons for using the pay-as-you-live economy are convenience; ability to save money; increased flexibility to upgrade models/ change product styles; and to gain access to luxury goods
  • Car usage tops the pay-as-you-live ‘league table’ – with new models of car sharing (as well as traditional car rental) providing a convenient, flexible and cost-effective alternative to car ownership
  • 45% of Londoners use the sharing economy in some way. In fact, they earn a national high of £549 per person from renting out or sharing their own items, such as additional storage space or an extra room.

We know that times can still be tough, especially with Christmas just around the corner, so it’s good to know that there are nifty ways to keep saving and to be a more responsible and sustainable consumer to boot. For example, did you know that by using Zipcar, you could save just over £3,000 a year compared to owning your own car?

Why own when you can rent or share?

** Research conducted by YouGov on behalf of Zipcar. Total sample size was 2,068 of UK adults aged 18 plus. Fieldwork was undertaken between 9th October and 11th October 2013. The survey was conducted online - the figures have been weighted and are representative of all UK adults (aged 18 plus).

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