RAC survey reveals leap in car running costs

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A New survey by the RAC has revealed that the cost of running a car has leapt by twice the rate of inflation in the last year.

Including vehicle depreciation, average annual new-car motoring costs now stand at £5,869 – a 6.3% increase on the figure 12 months ago.

Stripping away depreciation and car financing deals, the average new-car running costs have risen almost 9% to £2,417.

Overall, it now costs an average of £736 more to own and run a car than it did in 2007.

RAC motoring strategist Adrian Tink said: “Rises in the cost of motoring for Britain’s 34 million drivers shows no sign of ending.

“Owning a car is a necessity for most people but they’re once again being hit in their pockets – this time by an increase in costs which is double the rate of inflation.”

He went on: “Fuel continues to be a major contributor in the rising costs, with little being done to control the spiralling prices at the pumps. It’s time for the Government to look closely at the problem and take action, starting by cancelling the planned fuel duty rise of 0.76p in January 2011.

“Motorists will continue to be hit hard in the new year with the additional rise in VAT to 20%. This is likely to take us into a new era of record petrol prices, which is why it is vital the Government takes a close look at the issue to help end the war on motorists’ pockets.”