Owning and running a car generally isn’t a cheap endeavour, but it seems that our vehicles are starting to hit our back pockets harder and harder at the moment, as the cost of living crisis rumbles on around us.
According to the Guardian, some drivers are even seeing increases in car parts, repairs and services of up to 90 per cent, while others are finding parts both more expensive and harder to source.
Figures from the Office for National Statistics show that the cost of running and maintaining a car has risen by 15 per cent compared to 12 months ago.
This has been put down to rising costs for dealerships and garages, with the Motor Ombudsman citing issues like hikes in energy and fuel prices, delays with replacement parts, staff recruitment and retention and a dip in consumer spending on routine maintenance.
Speaking to the news source, James Gibson - head of technical with the RAC - said: “We’re unquestionably seeing the cost of vehicle parts rise as a result of rising inflation and increased transportation costs.
“A huge number of car components are affected by the hike in global material prices, whether that’s steel that goes into a set of coil springs or oil that goes into the engine or the manufacture of tyres.”
If you’re looking to cut down on driving costs, there are various ways in which this can be achieved, whether that’s by shopping around for cheaper insurance, car sharing on the commute or school run, keeping your tyres properly inflated and checking your oil and fluid levels regularly to help prevent problems from manifesting themselves.
Do you want to scrap your car for cash? Get in touch with Car Buying Solutions today.