16 June 2008
A high number of motorists will find that running their car over the coming year is more expensive than the vehicle itself, it has been claimed.
In the next 12 months, drivers may see that due to petrol prices, along with car insurance and tax, means they drop into negative equity, according to uSwitch.com.
The company suggested that if petrol jumps to £2.30 a litre in 2009, then it will cost £128.80 to put enough gas in the tank.
As this will boost the yearly outgoings to £3,387.29, then the typical motorist may be left with a car worth just £385 more, taking tax and insurance into account, uSwitch.com added.
Director of Consumer Policy at the firm Ann Robinson noted that some drivers will be forced to look more in depth at what they actually use their motors for.
She commented: "Some drivers will be held to ransom over spiralling costs, but I fear that many others will have no choice but to give up their car altogether."
Over the past weekend, the UK has been affected by striking Shell oil drivers, leaving some petrol stations without supplies.
© 2008 Adfero Ltd
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