Car insurance premiums Increased and motoring taxes rise leads to high annual cost of running a car which now step into 11% since 2007 according to research.
Other than interest repayments on car loans, car costs are now around £2,338 average on annual count, according to statistics from Sainsbury’s Finance.
The results seems 2.68% higher than last year 2008 record which average amount of £2,277 and 11.33% higher than the 2007 figure of less than £2,100.
Car insurance, which now averages £551, has now risen by nearly 13% since last year and by 23% compared with 2007.That’s a very big different to take a very serious look.
As for Car tax, now averages above value of £167, has gone up 8.45% since last year and although fuel costs are lower which is 1.22% lower than last year, they are more than 7.5% higher than in 2007.
For Servicing costs, at just under £300, have gone down 0.18% compared with 2008 but have risen 3.76% compared with 2007. This all means drivers would have to pay more to drive.
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Good figures there. But I don’t know what will happen if hybrid cars will be the mostly used cars for this coming years.
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