Motor News

Owning a car sets Brits back £206,000 during a lifetime

UK: Owning a car will set the average motorist back more than £206,625 during their lifetime on the road, according to research. A spokesman for leading online lender MYJAR, which commissioned the research, said: “Running a car is a necessity for many people in the UK, but our survey found that the costs of owning a car run far beyond the initial payment of buying one.

It revealed car maintenance sets the average owner back £439 per year as they fork out for essential upkeep and repairs – adding up to £27,716 over a lifetime behind the wheel. The biggest expense is fuel, with typically an incredible £54,341 pumped into their vehicle.

It also emerged the average adult will own five cars, worth a total of £41,976 in value, or £8,395.20 each. “Things like fuel and maintenance costs can quickly creep up”. Tax and insurance combined will also hit drivers for £6,943 and £21,595 respectively.

Source Credit: The Sun
Read full story:





Show More

Related Articles