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Cost of motoring 'set to rise'
Added: (Fri Sep 08 2006)
It has been estimated that the average cost of keeping a car on the road has increased by 7.2 per cent, according to research done by Sainsbury's Bank.
The annual cost of running a vehicle, keeping it taxed insured and with fuel in the tank is now expected to be £2,202 per year, the survey found.
This does not include the repayments for any personal loan or finance deal taken out to purchase the car in the first place.
Car insurance manager of Sainsbury's Bank, Richard Clark, said: "The cost of motoring has been rising steadily but you can keep this in check. For example, shopping around for car insurance and your fuel could make a real difference to your motoring bill at the end of the year."
Shopping around for car insurance may help you to obtain a cheaper deal. The cost of premiums has hit the spotlight recently with companies such as Norwich Union have recently announced they intend to raise its motor insurance premiums by 16 per cent for customers, with a steeper rise for higher risk drivers.
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Submitted by:
Jane Cragg