Higher motoring costs pile pressure on debt-hit Brits
Higher motoring costs pile pressure on debt-hit Brits
Thursday 2nd October 2008
According to the car repair and rescue service, over the last 12 months the cost of keeping a family car on the road has risen by 19 per cent to £2,435.
The increase has been driven by a number of factors including higher petrol prices and soaring maintenance bills which have added an average of £277 to the annual bill alone.
Adrian Tink, the RAC's motoring strategist, said: "With the credit crunch hitting motorists hard in their pocket, we encourage UK drivers now more than ever to take all potential financial implications of car running costs into account to better manage their budgets."
Experts predict that soaring living costs and higher repayments on loans, mortgages and credit card debt will drive a rise in demand for specialist debt advice this year.
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