THE amount British drivers are spending over their lifetime has been revealed.
Research has shown that the UK is the second most expensive place to own a car in the world.
Finance Experts at Car Money have conducted research revealing that UK drivers spend a whopping £437,627 on car-related costs over their lifetime on average.
According to the study, Brits spend £7,294 per year on car-related costs.
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Brits are paying £35,579 for MOTs, servicing and repairs over their lifetime, which is £12,434 higher than the global average.
Broken down, they spend £18,000 on repairs, £15,500 on servicing and £9,900 on road tax over the 60 years.
Brits will spend £2,709 on MOT tests in their lifetime, or on average £54.85 for every test.
The only place on earth more expensive than the UK to buy and own a car is the US.
Over the course of a lifetime, American drivers pay on average £427,620 on ten new vehicles, replacing one every six years.
America suffered due to the higher costs of their preferred larger-than-average cars.
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To carry out this report, CarMoney analysed online sources on standard car costs.
Andrew Marshall, Marketing Manager at CarMoney comments: “This study highlights the true costs of vehicle ownership.
“It’s certainly no surprise that the highest costs are related to the purchasing of vehicles and fuel, but the hidden extra costs of servicing, repairs and MOTs really stack up over time.
“To help keep costs down, motorists can ensure regular maintenance of their vehicles by doing their own checks to identify issues before they turn into costly repairs.
“Drivers in the market for a new car could also consider vehicle leasing options or opting for a second-hand car as their next purchase.”