Cost of motoring rises once again

Monday, 16 November 2009 02:36

The cost of running a car has increased yet again, with insurance costs burning the biggest hole in motorists' pockets.

Data unveiled today by Sainsbury's Finance reveals the cost of motoring has risen by 2.68% since 2008 setting the average driver back £2,338 annually.

With this figure growing each year, it means drivers are now paying 11% more to run their vehicles than they were in 2007.

Ben Tyte, Sainsbury's car insurance manager, said: "While certain costs of running a car have fallen during the past year, compared to 2007, the cost of motoring has increased fairly significantly with road taxes and insurance premiums both on the rise."

Car insurance has increased the most this year, soaring by 13% since 2008 and 23% compared to 2007.

The second biggest price leap came from tax, which went up to 8% in the last year and 22% in the last two.

Fuel prices had fallen slightly in the last year, Sainsbury's said, but were still higher than in 2007 and servicing costs were also slightly lower.

Mr Tyte urged motorists to scour the market for the best prices in a bid to keep their costs down. He added: "The cost of driving a car can still be kept better in check by shopping around, particularly for car insurance and servicing."

• Tags:
• car insurance
,
• news