Priced off the roads: the inflation busting cost of motoring revealed

New analysis by uSwitch.com reveals that in the last decade the cost to insure, service, tax and fuel a car has outstripped the rate of inflation by 34% or ?608.

It now costs motorists ?2,395 a year to keep their cars on the road.

But if costs had stayed in line with inflation then drivers would only be paying ?1,787.

The average UK motorist is now forking out ?2,395 a year to keep their car on the road, a national spend of almost ?75 billion on insurance, tax, MOTs and petrol.

Car maintenance now costs 11% (?228) a year more compared to last year and 78% (?1,051) more than in 1997.

Since 1997 the cost of car insurance has outstripped inflation by 29% - premiums have increased from ?311 to ?535 a year.

Car tax (VED) has seen the smallest increase.

Consumers now pay just 2% more than they did a decade ago If prices had increased in line with inflation, an MOT would now cost just ?38 a year - not the ?50 motorists currently spend.

In 1997 it cost ?854 a year to fill a car with petrol.

This has now increased 94% (?803) to ?1,657 a year - ?521 more than if prices had stayed in line with the rate of inflation.

New car sales have fallen by 13% as the credit crunch and rising costs of running a car hit motorists hard in the pocket If running costs continue to rise at the current rate, uSwitch.com predicts that in 2017 it will cost motorists ?3,659 a year to keep their cars on the road - a national spend of ?114 billion.

New research from uSwitch.com reveals that the cost of motoring has increased by 34% more than the rate of inflation in the last decade.

In 1997, UK motorists were paying ?1,344 a year to insure, tax, fuel and MOT their cars.

They are now forking out a wallet busting ?2,395 a year - 78% or ?1,051 more.

If these costs had increased in line with inflation, UK motorists would only be paying ?1,787 a year - ?608 less than they currently are.

This means that as a nation, UK drivers are spending almost ?75 billion a year keeping their cars on the road, ?19 billion more than they would have had to if costs had kept pace with inflation.

Consumers are already feeling the pinch from the soaring price of essentials, such as food and energy.

The cost of owning and maintaining a car is no exception as the research reveals huge price hikes in the last decade.

Insurance has increased by 72% or ?224, the cost of fuelling a car for a year has risen the most, by 94% (or ?803), and the cost of an MOT has risen 76% (or ?21.69).

Tax has only increased by 2% on average since 1997.

If these trends continue, in 2017 motorists could be paying as much as ?3,659 a year to keep their cars on the road, a staggering ?305 a month.

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