Rising cost of running a car

Last Modified: 02 Oct 2008
Source: PA News

UK motorists are now paying an average of 19% more to keep their cars on the road than in 2007, according to an RAC cost index.

Annual running costs for an average family car have now soared to £2,435, which is a year-on-year increase of £277.

The average cost at present is the equivalent of £47 a week or 20.3p a mile and is made up of the cost of fuel and maintenance.

Taking everything into account including cost of finance packages, depreciation and insurance, the average annual cost has gone up from £5,133 last year to £6,133 this year, with the average weekly cost rising from £98.71 to £117.94.

The RAC said 36% of drivers were now considering buying a car that was cheaper to run than their present model. But 68% said they would not stop relying on their car until better public transport was made available.

The RAC also revealed that 25% of motorists now share their car more with friends and family and that 16% are considering buying a second-hand car rather than a new car to avoid losing money through depreciation.

A further 22% are thinking about switching to a smaller car or bike and 18% are considering changing their car for one in a lower insurance category.

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