New research has revealed that it costs an average of £192 a month to run a car, with fuel accounting for nearly half of all expenditure.
The study, conducted by online car parts provider CarParts4Less, calculated an eye-watering total of £2,300 a year.
Fuel costs for a typical driver were found to be £1,142 every 12 months. This varies considerably by fuel-type, however, as while a year’s worth of petrol will set you back a steep £1,042, diesel is 26% more expensive, averaging £1,312.
Even at current fuel prices, which are at a four-year low due to Covid-19, it would cost £890 for petrol and £1,112 for diesel.
The next biggest cost is insurance. While this depends on many factors, such as your car, where you live and the type of cover, the average motorist forks out over £500 annually.
On top of these, London drivers may also have to pay congestion charges. At £11.50 a day, a commuter could spend £2,600 a year travelling through the city centre, taking their overall annual motoring costs to a staggering £4,900.
|Expense||Annual cost per car|
|Fuel (petrol / diesel)||£1,142 (£1,042 petrol / £1,312 diesel)|
|Congestion charges (London)||£2,600|
|Garage rent/car washing/other costs||£41|
|Anti-freeze, battery water, cleaning materials||£5|
|Total (exc. congestion charges)||£2,299|
|Total (inc. congestion charges)||£4,899|