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Revealed – the cost of driving until you’re 80

Over the course of your lifetime, you could spend nearly £190,000 on motoring.

A study by Blackcircles broke down the average cost of a car from when you start learning until you’re aged 80 years old – and it shows how the costs can quickly add up.

The average Brit will spend £189,416 on their car over 63 years. That works out as £3,007 each year.

Just insuring and taxing your car amounts to nearly £29,000, but that’s nothing compared to the £81,000 you’ll spend on petrol.

The other big cost was the price paid for the actual cars. With an average of 15 cars bought before a driver turns 80, we can each expect to spend £58,000.

Then there are costs just to keep your motor going. Servicing and MOTs add up to £8,550, while roadside assistance, repairs, new tyres and replacement batteries a further £6,930.

Just parking your car will cost £4,249. That’s before tickets of £257. Other driving fines will total £278.

Further costs include learning and passing your test (£417), valeting (£197) and getting de-icer, spare keys and other accessories (£153).

 

Do you know how much driving is costing you?

Most car buyers look at the car price to work out if they can afford the cost of the vehicle, but it’s the other costs that can catch people out.

Hefty insurance can have a big impact on your budget, as can annual servicing and MOTs.

Day to day running costs such as petrol and parking fees are easily overlooked. It’s also worth building up an emergency fund for unexpected damage and breakdowns. Our research found that the average cost of a car repair was £1,341.

Not knowing what your car is really costing you each year can have a huge effect on the other places you want and need to spend your cash. You can use our car costs calculator to work out your running costs. You can also read our car buying section for tips to help buying and running a car for less.

 

 

 

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  • A. Melwani / 5 April 2015

    Cost of running car:I enter car no. And in a split second,
    Details disappear. Any remedy?