Drivy waives its fees for electric and hybrid cars

Drivy is waiving its service fee until Christmas for electric and hybrid vehicles signed up before the end of August, rewarding greener vehicle use and ownership.

Sadiq Khan’s recent announcement to extend London’s ultra-low emission zone to 18 times its original size1 has had car owners worrying over the financial implications for them.

Khan plans to extend the surcharge to the most polluting vehicles within the north and south circular by 2021 have left many in the city lamenting the need to replace their old vehicles or face the additional cost – which could amount to more than £250 per month.

Drivy, Europe's leading car sharing app, is encouraging car owners to make their next vehicle purchase with the environment in mind. With more than 100,0002 cars set to be affected by the new £12.50 fee every day according to the Mayor’s office, a shift to eco or electric vehicles – those producing less pollution than diesel and petrol counterparts – is inevitable.

Car sharing platforms such as Drivy offer a more flexible, efficient and cost-effective alternative to car ownership, as well as providing those who do own a vehicle the chance to recoup some of the costs associated.

By avoiding the ultra-clean emission zone levy of £12.50 a day, motorists can save £250 over a 20-day working month. Considering the surcharge saving alone, a brand-new VW Up! (£9,325) would pay for itself within four years.

In addition to this, Drivy offer a supply guarantee to private owners, meaning those who make their vehicle available for 17 days or more each month receive £250 for doing so - a guaranteed return on investment whether the car is rented or not.

Katy Medlock, Head of UK at Drivy, believes peer-to-peer lending is the answer to many motorists’ needs. “While Khan’s Low Emissions Plan is exactly what we need to reduce air pollution and in turn save lives, a lot of people are struggling to imagine how to afford a car which meets the criteria.

“Drivy presents the perfect solution to off-setting the significant one-off payment of investing in an eco-friendly car, by not only allowing car-owners to rent their vehicle to other drivers while they aren’t using it, but also waiving our service fee on hybrid and electric vehicles listed before the end of July until Christmas, increasing the profit eligible customers can make”

Whilst the switch to greener vehicles is welcomed, there is also a need for fewer vehicles to be on the road to maximise a modern city’s space. Each car shared 100% of its time replaces five to 15 private cars in cities, according to the European Automobile Manufacturers Association, 2017 Vehicles in Use report4.

With 46% of Londoners opting to not own a car2, car sharing platforms like Drivy act as a conduit between those with cars sat unused and those needing to use a vehicle on occasion without full time ownership.

Katy adds: “Our aim is to make an impact by reducing the number of vehicles in the city, easing congestion and minimising the need for space to be used as parking, as well as financially rewarding greener vehicle purchases.

“We want to encourage people to see the financial potential of being open to car sharing – particularly when the average UK car sits idle or parked 96.5% of the time.”

To see how much you could earn and to find out more about Drivy, visit: www.drivy.co.uk.