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Price of running a car soars for car finance drivers

All drivers, including car finance customers, have seen the cost of running a car go through the roof over the past year, according to a report undertaken by Sainsbury’s Finance.

All drivers, including car finance customers, have seen the cost of running a car go through the roof over the past year, according to a report undertaken by Sainsbury’s Finance. The study also said that it is now 20 per cent dear to keep a car on the road than this time last year.

The statistics prove this, as the average annual cost of running a car has been said to be £3,089.51 – which is an increase of 51.1 per cent over the last year. Ouch.

Ben Tyte, Head of Motor Insurance, Sainsbury's Finance said: "The cost of motoring has soared in recent months as all costs, but particularly fuel prices and insurance premiums, continue to rise. The cost of driving can be kept better in check by shopping around, particularly for fuel and car insurance."

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