Cost of running car rises nearly 9%

The annual cost of running a car has increased nearly 9% to around £2,539, from a figure of £2,338 in October 2009, according to latest figures.

Attributing the rise in car maintenance expenses to increasing petrol and insurance costs, Sainsbury's Finance revealed that car insurance soared 11% and fuel 10% in the past five months. It further said on an average, car owners spend almost £1,400 annually on petrol or diesel.

There has been a 3.4% rise in the tax in last five months, while the charge has jumped 26% since September 2007.

With just 1% rise since October 2009, the cost of servicing vehicles has increased the least.

According to Sainsbury's Finance, currently motorists spend 20% more a year to maintain their vehicles compared with September 2007.

Sainsbury's car insurance spokesman Ben Tyte said: "The cost of motoring has soared in recent months as all costs, but particularly fuel prices and insurance premiums, continue to rise.

"The cost of driving can be kept better in check by shopping around, particularly for car insurance and servicing."

With the introduction of the new vehicle excise duty tax from April 1, Mt Tyte added: "It's also worth those looking to buy brand-new cars haggling down the price to offset this higher cost."

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