Cost of Living Crisis: Cost of Running a Car
Written by James Young on 10th May 2024
The cost of running a car is more expensive than ever before. Car insurance currently stands at £3,000 for first-time drivers.
Car insurance isn’t the only expense when it comes to driving it also includes fuel prices which are rising this is leaving many people unable to afford to drive.
The Financial Conduct Authority said: “Consumers had already seen annual premiums increase by 21% on average since June 2022, but that some had experienced much higher. It said the rise was due to several factors, including energy prices, and an increase in the cost of car repairs, paint, labour and spare parts.”
Today I spoke to Charlotte who currently can’t afford to run her car and struggles to get to work and university.
See video here:
