A new study has worked out the total average cost of a lifetime of motoring – factoring everything from the cost of passing your test to buying and running your car(s), including repairs, fuel and servicing etc.
And it’s pretty startling!.
ClickMechanic surveyed 1082 drivers and based their study on an average driving career of 63 years.
Starting at the beginning, the average person spends between 20 and 30 hours learning to drive on driving lessons and taking driving tests – that costs on average £690.
Then the costs start to really rack up.
Based on the next 63 year’s driving, insurance will take care of £29,000, that’s a fraction more than the £28,686 you’ll spend on repairs.
Then there’s Servicing at £19,700, Road Tax at £10,600, Breakdown cover at £3,400, Tyres at £5,325 and MOT’s at £3,000.
The average motorist will also spend a whopping £9,235 on parking fees and £2,268 on car washes and air!.
And what about the REALLY big cost?
The average motorist will spend £67,000 in their driving lifetime buying a total of 14 cars.
But that’s not the REALLY, REALLY big cost.
The average motorist will spend an average of £101,000 on fuel!
Add all this up and it makes the grand total of nearly £280,000!.
There are a few remarkable things here (ignoring the fact that you can actually go out and spend more than that on a single car if you really wanted to!):
Firstly – it really illustrates that shopping around for deals on things like insurance, breakdown cover and tyres can be well worthwhile. Saving 5% on each, each time you come to renew would add up to huge savings over the years (a nice holiday perhaps?)
Secondly – over £2,000 on car washes?. I know it can be a pain but if you’re going to pay, maybe give the money to the local kids who are fund-raising. They’d appreciate the cash.
Thirdly – fuel efficiency. When you do buy a car, buy a fuel efficient one, and drive it efficiently. Read other posts in our Blog which will help you save up to 10% on fuel costs.
And THAT could save you £20,000.
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