More expensive to drive in Britain
Nov 07, 2006
British drivers are spending up to 15 per cent more to run their car than their counterparts in Spain, Italy, France and Germany.
Research from Prudential found that the annual cost of running a mid-range car in the UK came to £4,997, which was £642 more than in Spain, £513 more than in France, £465 more than in Italy and £320 more than in Germany.
The extra costs start when buying a car, which costs up to £2,000 more in the UK than other European countries despite moves several years ago to force manufacturers to equalise prices across europe. A further £2,000 per year is then lost in depreciation.
British drivers also had to pay higher fuel and annual service costs as well as significantly higher annual road tax. UK car insurance was cheaper though, with an average premium of £250 a year, compared to £558 in Italy.
In order to beat the extra costs, Prudential advises motorists to shop around for the best car finance deals, avoid fines, haggle with dealers to get the best possible new or used car price and of course find the best deal when renewing their car insurance. Buying a car is one of the most popular reasons for people to take out a personal loan but people should be wary of specialist car finance arrangements which can prove more expensive that a straight forward loan.
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