Home
NewsCost of running a car 'on the rise'
Cost of running a car 'on the rise'
Posted by Emily Jones
The cost of keeping a car on the road is increasing, new research has shown.
According to Sainsbury's Finance, the annual amount consumers need to spend on vehicles has risen by 8.6 per cent over the last five months.
The main reasons behind the jump are fuel and insurance price hikes, it suggested.
Currently, the average cost of motoring, excluding any interest repayments on loans taken out to buy cars, is said to be £2,539.
This is up from the £2,338 recorded just under half a year ago, the firm noted.
Responding to the figures, Sainsbury's Car Insurance manager Ben Tyte said: "With the new higher level of tax coming in ... for newly registered cars it's ... worth those looking to buy brand new cars haggling down the price to offset this higher cost."
He added that consumers can keep the amount they pay for driving down by shopping around for deals on things such as servicing and insurance.
In his recent Budget, chancellor Alistair Darling implemented a fuel duty rise of one per cent, with another due to come into force in October.
07/04/2010 16:06
News category: Motoring