Running a car costs more than a mortgage

Fri 06 August 2004 View all news

The cost of running a car takes up about a quarter of a typical UK household's income and exceeds the cost of servicing the average mortgage according to the latest figures from the RAC Insure Index.

The cost of running a car is now around £438 a month; higher than the interest repayments on a typical £80,000 mortgage (at current rates).

Fuel costs account for nearly 20% of  total running costs and could represent a significantly higher share if oil price rises are sustained.

Related Links

RAC Insure Motoring Index

< Back to news list