THE cost of keeping a car on the road has soared to an all-time high.
Rocketing fuel prices, ever-increasing insurance charges and rising repair and maintenance bills mean maintaining a new motor now sets drivers back £6,600 a year.
The sharp rise in annual costs is almost three times the current inflation rate of 5%, according to the RAC’s annual Cost of Motoring Index.
Owners of second-hand cars are also feeling the pinch with yearly bills averaging £4,724. The RAC study reveals today that the average annual cost of owning and running a new car has risen by 14% to £6,689 a year.
Drivers now have to pay an average £128.64 per week, or 55.74 pence per mile, to own and run their vehicles.
It now costs an average of £1,556 per year more to own and run a car than it did in 2007.
Even if depreciation and finance are excluded, day to day running costs are up 11.1% to £2,743.
Adrian Tink, of the RAC, said: “This highlights the tough conditions being faced by motorists.
“With the annual cost of motoring approaching £7,000 the price burden of car ownership is hitting drivers hard. Something needs to be done to stem the tide.
“With fuel prices continuing to be the biggest single running cost, UK drivers want action from the Government.”
Mr Tink added: “At the very least, we are calling for the scrapping of next year’s planned fuel duty increases.”