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Car maintenance 'almost as expensive as vehicle itself'

Fri, 13 Jun 2008
Drivers across Britain are paying more to maintain their vehicles than their cars may actually be worth, according to a price comparison website.

Research from has revealed that the cost of vehicle maintenance will be £104 billion per year from 2009, while car insurance and road tax prices can also be factored in.

It added that each year an average of £3,800 is spent maintaining an automobile, which is only some £385 cheaper than the cost of the average vehicle.

Anne Robinson, director of consumer policy for, commented that some people will be more affected by this trend than others.

She said: "Those in rural communities, the elderly and lower income families will really suffer - don't forget that for many of these a car is a lifeline and their quality of life will suffer if they are unable to afford to use it."

Recent research found that 24 per cent of parents have assisted their children with car finance costs.

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Borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96.

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