The price of owning a car seems to be going up, and with more and more of us making the switch to electric cars in preparation for government laws coming in, what does this mean to motorists in the UK’s biggest cities?
The guys over at Kwik Fit, have done some research into the most expensive cities to own a car in the UK, and have taken a look at everything from street parking, cost of insurance, fuel prices and residents permits to see whether it’s the north or the south that are forking out more to drive.
Surprisingly, it’s the cities down at the bottom of the country which are the cheapest to own a car, with Exeter and Southampton coming in the cheapest, with a total of £1,675.75 and £1,700.22 p/year respectively. The majority of money spent on owning a car usually comes from the fuel side of things, which is averaging around £900-£1200 a year alone, often much more than insurance, which you’d think would be the most. The only difference is over in Northern Ireland, where Belfast residents are spending around £1,500 on their fuel for the year.
On the other end of the scale is Birmingham, where residents in the city are spending the most money out of everywhere to own a car. The main money spender here is insurance costs, which are averaging around £1,200 for the year, much higher than other cities in the UK. This, combined with the highest price for a parking permit, makes things very expensive in the Midlands.
Take a look at the results yourself. It’s important to keep this in mind when it comes to deciding where to live in the UK, especially if you are a car driver. It could be beneficial to compare this with the price of public transport if this is an option for your commute to work or shopping, or with the rise of electric cars, could this be an option?