BMW is the most expensive car to run
The typical BMW driver will spend £2,411 on running costs every year – 29 per cent more than the average car which is £1,688 to run, according to MoneySupermarket.
This equates to £8.26 every single time a BMW is driven, 59 per cent more than the £5.18 cost-per-use for a Citroen. Peugeots have the lowest cost-per-use at £4.77.
The MoneySupermarket study looked at the running costs of popular car makes, including annual spend on fuel, insurance, car cleaning, tax, MOT, and extra costs such as parking tickets.
As well as the annual cost, the study explored how frequently vehicles are driven to get a true picture of the cost-per-use of popular UK cars.
After BMWs, Toyotas and Volkswagens are the second and third most expensive cars to run, with annual running costs of £2,085 and £1,900 respectively. Citroen, Ford and Vauxhall owners have the lowest running costs, typically costing £1,647, £1,756 and £1,770 a year respectively.
Fuel makes up the bulk of the annual outlay, with drivers spending an average £1,124 a year. Insurance (£374), road tax (£170), routine maintenance (£138) and cleaning (£60) account for the rest of the expenditure.
Londoners spend the most on their cars annually at £2,771, more than £1,000 more than those in Scotland at £1,526 per year.
Rachel Wait, consumer affairs spokesperson at MoneySupermarket, said: “After buying a house, a car is probably the most expensive thing you’ll ever own, but the costs don’t stop after you drive out of the showroom.
“Our research finds that the average annual cost for keeping a car is almost £1,700 and differs significantly depending on the type of car you drive. Some of these costs – such as tax, insurance and fuel – are clearly unavoidable, but the good news is that savings can be made.
“Outside of fuel, insurance makes up half of the annual cost of running a car. It’s easy for it to creep up, particularly if you fall into the trap of letting your current deal automatically renew every year. To avoid this, make sure you shop around ahead of your renewal – you could save up to £245 on your annual premiums.”