What Percentage Of Your Salary Is Spent On Your Car?

Tue 4th Sep 2018

A major new survey has revealed which regions of the UK are spending the most on their car every month, and it comes as no surprise that London comes out top of the list.

Drivers in the capital pay more for their petrol, more for their parking and the authorities in London also spend more on their roads per car than almost every other part of the country.

The research, which has been undertaken by finance provider Moneybarn, shows that whilst Londoners spend on average £595 per month on their cars, as a percentage of salary, they actually come bottom of the table, with car owners in East Anglia spending 24% of monthly earnings.

Parking in the capital is a huge problem for Londoners, with the average parking space costing drivers £2,900, though that can rise to as much as £8,250 per year in some cases. The cost of parking across the country is a huge problem, with the government earning £755m from parking in the last financial year, a figure that has almost tripled in the past ten years.

Another driving cost which has spiralled in the last few years is the cost of petrol. Figures released this week by the AA show that northerners are getting the cheapest petrol at an average of 128.8p per litre, compared to 130.4p in the South East. Overall the UK’s fuel is the tenth most expensive in Europe, though spare a thought for drivers in Iceland who are paying an eye-watering £1.63p per litre.

Want to spend less on owning a car? Why not consider one of the many affordable options available at CarSupermarket.com