The annual cost of running a car has increased by almost 14 per cent when compared with last year, according to figures from Sainsbury's Bank.
A survey from the bank suggests that motorists now face an annual cost of £2,544 to keep their vehicle on the road, which is an increase from £2,240 last year and £2,189 in 2006.
Sainsbury's point to the spiralling cost of fuel in the UK as the main reason for the increase, with the average motorist spending 19 per cent more on filling up their car compared to last year.
Drivers feeling the pinch could be tempted try and save money by scrimping on their
car insurancecover, but while potentially saving money in the short term it will be costly to be uninsured in the event of an accident.
The bank also advises customers to haggle on the price of a new car, after research showed that 19 per cent of people had "no intention" of persuading a dealer to move on the price of their new vehicle.
In related news, the Daily Echo recently reported that as many as one in ten drivers in some areas of Hampshire have no
car insurance, according to figures from the Motor Insurers' Bureau.
Insureandgo can cover any driver, at credit crunch busting rates.