It costs between £250 and £404 a month to maintain a car in the UK, depending on where you live, claims new research.
According to vehicle finance provider Moneybarn, car maintenance is highest in London (around £404 per month, or almost 18% of an average monthly salary).
Calculating various motoring factors such as the cost of commuting, insurance premiums, private parking and road tax, residents in the South West of England pay the least to maintain a car (£250 per month).
|#||UK Region||£ per month of car ownership||% of monthly earnings|
|5||Yorkshire And The Humber||297||16.1%|
The cost of car maintenance may seem high in the UK, but when inflation is considered, Moneybarn says the cost has actually gone down over the past decade. It is now £30.20 cheaper on average per month to maintain a car compared with previous years2.
“It’s really interesting to see the difference in car maintenance throughout the UK,” said Tim Schwarz, Head of Marketing at Moneybarn.
“As expected, Londoners have the highest cost for car maintenance, but this balances out as Londoners earn more on average compared to the rest of the UK.
“It’s also really positive to see the cost of maintenance overall is growing slower than inflation, allowing more people the possibility to own a vehicle.”