Cars cost money - lots of money
According to a report by the RAC in 2003, 30% of motorists have no idea how much their car costs to run. If this is true, the other 70% must be in denial. The answer to the question: how much does it cost to run a car is "a lot." RAC Motoring Services have compiled the following illustrative vehicle running costs. The figures represent a guide to the cost of running, from new, a privately owned car for a period of three years with an annual mileage of 12,000 miles. These numbers include depreciation, financing charges, fuel costs (at 81p a litre!!), servicing and maintenance, tyres and replacement parts, insurance premiums and, you guessed, RAC membership. These are the figures:
|
engine size
|
cost per year
|
cost per week
|
|
up to 1000cc
|
£3,617
|
£69.55
|
|
up to 1500cc
|
£5,118
|
£98.42
|
|
up to 2000cc
|
£7,510
|
£144.42
|
|
up to 2500cc
|
£9,715
|
£186.82
|
|
over 2500cc
|
£11,134
|
£214.11
|
This is what your car is costing you: week in, week out. Get more details at:
www.rac.co.uk/web/knowhow/owning_a_car/running_costs/veh_running_costs
If you don't trust averages, and want to find out exactly how much your own car is costing, click to the following calculator:
http://img.thisismoney.co.uk/calculators/calcCarCost.html
Save more
Not having a car means saving the amounts listed above. It also means not having to pay for parking, congestion charges (coming soon to a town near you) and road pricing (ditto). You can give up the costly gym membership as you get fitter. And if you have a car parking space you might even be able to rent it out and make some money.
How do you get around without your car? Look at those figures above: that will buy you a lot of taxis, car hire, trains and buses. So the sooner you give up your car, the sooner you will start saving money.
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