The average cost of running a car has risen by £240 or 11% in the last two years. The average annual price of running a car is now £2,388 up from £2,100 in 2007, this is based on the cost of insurance, fuel, servicing, MOT and tax and is up 2.68% since 2008.
Car insurance has seen the most significant increase in price over the last year, rising nearly 14% since 2008 and 23% compared with 2007.
The cost of fuel has fallen by just over 1% since 2008. However fuel prices are rising and drivers may be forced to pay £5 a gallon in the run up to Christmas. The RAC have said that petrol prices are set to reach 110p per litre by the middle of December – currently an average 108p – and this works out at£5 a gallon. So filling up an average family car will cost £60.50 this December an increase of £12.15 compared to a year ago!
At Car Magic we know that the cost of motoring has still increased with fuel, road taxes and insurance premiums all on the rise and we advise you to shop around for insurance and servicing.
In many cases Car Magic can repair minor accident damage to your car at or below the excess level of your insurance.