First-year motoring costs have risen considerably over last decade
It now costs £9,745 more to buy a Volkswagen Golf than it did 10 years ago, while first-year road tax costs have increased by as much as 178 per cent in the exact same period.
Research into the expense of motoring exposes first-year vehicle excise duty (VED, commonly understood as road tax) costs have increased 166 per cent, 178 per cent as well as 118 per cent for petrol, diesel and alternatively fuelled (hybrid as well as EV) cars and trucks respectively.
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The typical first-year tax rate for a petrol cars and truck has risen from from £278 to £600 as well as from £278 to £772 for diesels, according to data from Uswitch. additionally fuelled cars and trucks are up from £271 to £591, meanwhile.
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Not only has there likewise been a 72-per-cent leap in the starting cost of a Volkswagen Golf over the last decade, however the Ford Fiesta – one of the UK’s very popular cars and trucks – has jumped 67 per cent from £9,995 to £16,645 in 10 years. From 2011, the typical income has risen by 22 per cent, lagging far behind the boosts in cars and truck costs as well as ownership costs.
It’s not all poor news, though – the typical expense of insurance coverage has fallen by 48 per cent in the last decade, while fuel costs have seen an general dip of 14 per cent, from £1.33 per litre to £1.14 for unleaded as well as £1.39 to £1.19 for diesel.
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It should be noted, however, that lower insurance coverage costs are linked to the effect of the pandemic, with fewer new drivers – as well as drivers in general – on the road. The decreased fuel costs are likewise Covid-related – pump costs fell dramatically during the UK’s national lockdowns – resulting in these lower averages – however have since skyrocketed, with unleaded hitting an eight-year high over the summertime of 2021.
Joel Kempson, cars and truck insurance coverage professional at Uswitch, commented that the figures “could mean that a traditional vehicle becomes unaffordable for many people – particularly first-time drivers”.
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