Car Costs Double In A Decade

The cost of running a car has doubled over the last ten years with motorists now forking out around £2,053 every year on their vehicles.

According to research from Sainsbury's Bank the driving factor is fuel where the average motorist spends over £1,000 a year. Insurance is also burning holes in pockets with an average £458 spent annually.

However, motorists could dramatically reduce their motoring costs by shopping around for car insurance and finding better deals when buying a new car.

Kevin Cavanagh, Sales Director at VeSource said motorists needed to address the price paid for new vehicles.

He said "Between February and July 2005, over 370,000 people said they planned to buy a new car, but would not look around to get the best price."

"Given that you can save at least £1500 on the price of a brand new car by coming to companies like VeSource, these people could have collectively lost out on more than £550 million."

For more details see www.vesource.co.uk