The Cost of Motoring over a Lifetime
How much do you think the average motorist will spend keeping their car on the road over the course of their lifetime?
MoneySupermarket has crunched the numbers and found that the average male motorist would spend £202,008.92 with prices at their current levels. The average female motorist would spend slightly more at £217,715.26 because women tend to live longer.
This has been calculated taking into account the most common age to pass a driving test in the UK is 18, and also factoring in the average lifespan for males and females in Britain.
Perhaps unsurprisingly the biggest expense would be fuel, with the average male spending £106,064.25 at the pumps and the average female spending £116,042.55.
The next biggest expense would be car insurance, which would cost over £30,000 for both genders. Car insurance prices are at their highest when motorists are under the age of 25, on account of younger motorists being statistically more likely to make a claim. However, you could help to reduce overall car insurance premiums by taking advantage of the MoneySupermarket comparison service to make sure you are getting the cheapest available deals.
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†82% of shoppers obtained a quote in 5 minutes or less. Source eDigitalResearch December 2012.