Wednesday, January 22, 2020

How Much Does It Actually Cost To Own & Run A Car? ♥

*This is a collaborative post.

Buying a car is a big deal for most people. I know when I bought my car I felt like it was such a big milestone reached in my life, but sometimes people may not be aware of just how much it actually cost to own and more importantly run a car - because there's no point in having a lovely car sitting on a driveway and not being able to afford to run it!

With this in mind, Kwik Fit researched to determine which UK city was the most expensive to run your car in, taking into account circumstances such as MOT cost, insurance, parking costs, servicing, etc. You can read the Kwik Fit research asset to see where your city came on the list. Birmingham came out top of the list with a car running cost of an unbelievable £2170.19!

It may sound like a huge cost, but honestly, having looked at how much my own car costs me to run, I'm probably not far off that figure either.

My insurance is the biggest cost of running my car, it's over €840 per year. Then I have tax which is €500+ and a yearly service which is about €150 depending on what parts I need. I drive a 1.6litre engine so a full tank of petrol can cost me €70+.

On the other end of the scale, the city with the lowest car running costs was Exeter, with a reasonable and definitely more manageable £867.48. Petrol costs were cheaper here with insurance costs a whole £566.44 less than in the most expensive city of Birmingham. Is it just the luck of a postcode or a city of better drivers, who knows!

It's so important when you're choosing what car to buy that you actually factor in all of these regulations that come with owning a car. You're not simply just paying for a car, you also have to cover insurance, tax, MOT, services, fuel and everything else a car can throw at you.

Owning and running a car is a costly thing and a big responsibility, so make sure the car you're wanting to own, is one you can afford.

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