The British could save £377,700 in their lifetimes by choosing to travel by motorbike instead of by car, when taking into account extras such as bike insurance and tax.

In a study commissioned by bike insurer Bennetts, Martin Bamford, a chartered financial planner, found that those who travel by car could save over £6,500 each year (£130 a week) by riding instead of driving. The study looked at the cost differences between driving and biking and found that, when added extras such as tax, finance and parking where taken into account, bikers saved a considerable amount each year compared to their driver counterparts.

It is not just financial benefits that bikers experience; they also save more time than those who drive. It was discovered that, over the course of a lifetime, bikers save four and a half years by not having to sit in traffic jams.

For Londoners, the savings are even higher. It was revealed that the average London biker saves even more by escaping the congestion charge. There, bikers are saving up to £1,920 each year just by avoiding the £8 congestion charge.