The cost of motoring

The RAC Direct Insurance Cost of Motoring Index is an in-depth piece of research tracking the cost of owning and running 17 different models of car. The most recent results are from 2007 and you can see them below.

Key findings from the 2007 index

• The average family car costs £5,627 a year to keep on the road, an increase of £162.70 year-on-year.
• Car maintenance costs are down by 8% to £273 a year compared with £298 in 2006.
• Depreciation is the largest cost, as it has been in previous indexes, with the average car now losing £2,357 a year, nearly a 6% increase on 2006. The average motorist is now losing £45.33 a week on the value of their car, and the residual value of cars in the index has dropped from 47% to 42% after three years.
• The average cost of tax decreased by a minimal amount, but owners of 4x4 vehicles have been hit with a massive increase of nearly 60%. However, in line with the Government's support for greener motoring, environmentally aware car owners enjoyed a tax decrease of 50%.
• The average annual cost of insurance premiums rose by 1%, or the equivalent of just over £4 year-on-year - mainly because a number of cars moved into higher insurance groups.

According to the index, the full costs for running a car are:

Get in touch

RAC Press Office
Adam Cracknell
01603 684916
adam.cracknell@aviva.co.uk

June 2009