British Motorists Underestimate The Cost Of Driving By 50%

Vehicle owners in the U.K. underestimate the cost of driving by 50% but 80% are not willing to give up their cars.

1 minute read

March 2, 2004, 12:00 PM PST

By Abhijeet Chavan @http://twitter.com/legalaidtech

"Drivers significantly underestimate the cost of motoring, says a report today. Increases in petrol prices and higher depreciation pushed up the cost of running an average car by nearly three per cent to £102.59 a week in the final four months of last year. Motoring accounts for 25 per cent of the average income, second only to housing costs. Drivers, of whom there are 24 million in Britain, underestimated the costs of motoring by more than 50 per cent, estimating expenditure at just over £2,100 a year compared with the average £5,335."

Thanks to Richard Layman

FULL STORY: Motorists can't kick increasingly expensive habit

Monday, March 1, 2004 in The Daily Telegraph

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