How running car costs £130 a week

THE cost of running and driving a car has rocketed by 14 per cent over the past year, a new report has claimed.

Drivers are now paying an average of £128.64 a week to run a new car, while those with a used vehicle are still forking out as much as £52.75 a week.

The investigation, by motoring organisation the RAC, found that depreciation – how much value a car loses over time – had risen most rapidly, up 16.67 per cent over the period, followed by insurance, which was up 14.38 per cent.

Fuel was 12.4 per cent higher than a year ago, while maintenance costs, on average, were 8.8 per cent higher.

The overall bill is the equivalent of 55.74p per mile and means it now costs an average of £1,556 more a year to own and run a new car than it did in 2007.

Car finance now costs 9.85 per cent more, while RAC membership – which was included in the calculations – had gone up 4.21 per cent. All in, the costs amounted to £6,689 compared with £5,870 last year.

“This year’s cost index highlights the tough conditions being faced by Britain’s motorists,” said RAC motoring strategist Adrian Tink. “With the annual cost of motoring approaching £7,000 the price burden of car ownership is hitting drivers hard.

“The increase of almost three times the rate of inflation is crippling drivers’ wallets and something needs to be done to stem the tide.

“With fuel prices continuing to be the biggest single running cost, UK drivers want action from the government,” he added.

Last week, MPs voted unanimously to demand that the government puts the two fuel duty rises planned for January and August next year on hold.

“Last week’s Commons debate showed the real depth of feeling across the country on this issue,” added Mr Tink. “At the very least, we are calling for the scrapping of next year’s planned fuel duty increases.”

The cost index was based on a pool of 17 new cars with the results weighted by ownership.

Even taking depreciation and car finance out of the calculations, the day-to-day running costs were up 11.1 per cent to £2,743. The RAC said the rise for used cars’ running costs was 13.2 per cent.

“Motorists can ensure that they tackle the biggest expense – fuel – by driving in an eco- manner,” said a spokesman for the Institute of Advanced Motorists.

“That can lead to savings of up to 15 per cent. Good anticipation and a light right foot are the only tools available to drivers who want to cut the cost of the pain at the pumps.”