As Brits, we’re no strangers to the fact that the cost of living can vary significantly depending on where we’re located – and it’s more than just the North/South divide.
A new survey by HiyaCar has revealed the vast differences in the cost of keeping a car on the road, taking into account car insurance, road tax, MOTs and general maintenance.
The study found that, unsurprisingly, London was the most expensive place to run a vehicle, with motorists shelling out an average of £261.10 per month. With parking and congestion charges, this comes as little surprise. Conversely, those living in Wales paid almost £100 less per month at £174.20.
“More than all other household bills”
In perhaps one of the most shocking revelations of the survey, participants around Britain admitted that they spend more on their cars each month than gas, electricity, water, broadband and mobile phones combined. While the former averaged out at £203 per month, all other household bills came in at £194.
Of course, the costs have been exacerbated in the case of those who do not use their car on a regular basis – approximately one million of us only use our vehicles once a month. Relative to our mileage, this means that Londoners are paying an average of £1.56 per mile to stay on the road, while the Midlands pales in comparison, with residents paying just 62 pence per mile.
A better alternative?
“What’s more shocking,” said HiyaCar co-found Rob Larmour, “is the fact that drivers are pouring this cash into cars across the country which are sat idle in driveways, depreciating in value, while a fortune is spent on their insurance,
MOT and tax” Motorists looking to get a better deal for their buck are advised to take alternative vehicle options such as leasing, which has been proven to be far more cost-effective in the long run, for both business and personal use. The benefits of car leasing include constantly updated vehicles, saving money on depreciation, as well as no maintenance fees.
Of course, there is still the insurance, road tax and fuel to be considered, but for those who don’t want the initial investment or the ongoing burden, this may prove to be a better option for British drivers.
Where is best to live?
Those who feel leasing may not be for them should consider re-locating if they want to keep their driving costs down in the long term. Motorists living in London, the North West and Scotland were found to be paying the most to maintain their car, from 98p to £1.56 per mile, whereas those living in Wales, the East and the
Midlands were charged between 62 and 72 pence.Do you think it’s worth the stress moving city to pay less for your vehicle, or is leasing a better option? Write your comments in the box below!
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