Car Insurance News from Be Wiser

Fortune In Loose Change Lost Each Year

Some £14 million in loose change is lost in UK cars each year, it has been revealed. According to a company which recycle close to 400,000 cars annually, it found more than £170,000 in spare coins over the last 12 months.

The company estimated that with around 32.9 million licensed vehicles on Britain's roads, the total amount of lost money could be as much as £14 million. A spokesman for the website, which helps drivers dispose of their cars responsibly, commented on the lost change - which the company returns to the Royal Mint.

Through the recycling process the company has found gold and silver and even a Krugerrand coin from South Africa worth £300. A large part of the money could be "irretrievably lost" when the vehicles are crushed and shredded, resulting in significant financial losses.

"They say you can't take your money with you when you go but this is exactly what UK motorists are doing everyday on their travels back and forth to work and school," said Derek Campbell.

The website was set up to raise car owners’ awareness of the European Union’s End of Life Vehicles Directive, which makes the last owner responsible for environmentally sound disposal of the car. It also helps them find their nearest authorised treatment facility.

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