Using the Government’s own figures, and its own research, Parker’s has calculated that car ownership now costs 11 per cent more today than it did this time last year. Although the official rate of inflation stands 3.3 per cent, motorists are facing higher costs in nearly every area and the cost of motoring is spiralling out of control.
It comes as little surprise that the largest burden comes at the pumps, where the average family is now paying £136 per month on fuel. That’s up £23 (20 per cent) on this time last year and will add £276 to a family’s annual motoring bill. Car owners are now paying on average 16 pence per litre more now than they did at the start of 2008.
Elsewhere, it now costs 5.6 per cent more to get your car serviced than it did in 2007, due to increased costs of labour and materials. Even the cost of tax and insurance is running above the official rate of inflation – both have seen a rise of 3.6 per cent.
The cost of road tax is set to soar even higher in 2009 and 2010 as changes to the VED system come into force. Many family car drivers will find that their annual road tax bill has risen by 30 per cent by 2009 when a year’s road tax rises to £300 a year and 54 per cent when the charge becomes £455.
The purchase price of cars is the only area that remains stable: new cars cost roughly as much today as they did 12 months ago.
Used cars are now slightly cheaper – partly due to falling prices of expensive and inefficient petrol-engine cars.
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