Halifax: True cost of vehicles and car insurance revealed

Tue, 14 Aug 2007

For those considering buying a car and looking for a good car insurance deal, a look at figures released by Halifax may be advisable.

Halifax Unsecured Personal Loans' annual review has revealed that the true cost of motoring for Britons in 2006 was £36.5 billion.

It was found the total household expenditure on vehicles - including car insurance - was up £11.1 billion from ten years previous.

Head of Halifax Unsecured Personal Loans Neil Chandler comments: "It's important people shop around and find the best deal for them [cars] or these costs could soon mount up and place a strain on your finances."

The findings indicate that other costs motorists must pay when they purchase a vehicle have contributed to these figures. Car insurance, MOT fees and tax are all additional expenses when buying a new or used car .

Last week, car insurance firm Sheilas' Wheels informed motorists that wearing the new must-have sunglasses may be dangerous for driving and found 61 per cent of female drivers would opt for style over safety.

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