Is the cost of motoring becoming unaffordable for British families?

With new car prices soaring, insurance premiums and fuel costs eating into household budgets, owning a car is becoming an increasingly expensive commitment for British drivers. But has the cost of motoring reached a tipping point, with families being priced out of being on British roads? New analysis reveals that new car prices have risen at nearly 30 times the rate of disposable household income growth over almost a decade, raising serious questions about the affordability of car ownership in the UK. Ahead of the Autumn Budget, new research suggests drivers are already feeling the squeeze, with almost two-thirds (62%) believing buying a new car has become less affordable than it was ten years ago. A third say they would love to buy a new vehicle but are having to think twice as the cost of living continues to put pressure on their finances. And the financial strain doesn't stop at the dealership. More than half (56%) of drivers say running costs are a key consideration when choosing a car, almost matching the 61% who prioritise the purchase price. From insurance and fuel to servicing, repairs and finance repayments, the true cost of keeping a car on the road is forcing motorists to think harder about what they can afford. Yet drivers are not necessarily giving up on the cars they want. The research found that 88% would reconsider their priorities to make their preferred vehicle affordable, with 42% prepared to sacrifice additional features and 41% willing to switch manufacturers to find a better deal. Vicki Butler-Henderson, former racing driver, motoring journalist and Fifth Gear presenter, is available for broadcast interviews to explore whether the cost of motoring is becoming unaffordable for ordinary families, what rising prices mean for drivers approaching their next car purchase, and how motorists can make their money go further. Drawing on her extensive motoring experience, Vicki can offer practical, consumer-focused advice on looking beyond the showroom price to calculate the full cost of ownership, comparing insurance and finance deals, finding cheaper fuel, considering alternative makes and models, and cutting everyday running costs through simple measures such as maintaining correct tyre pressures and driving more smoothly. With the Autumn Budget approaching, the question is whether enough is being done to keep motoring within reach for the millions of people who rely on their cars for work, family life and everyday essentials. Vicki’s tips for getting the most for your money: · Calculate the full ownership cost. Consider insurance, servicing and fuel or charging alongside the purchase price. With finance, compare the deposit, total amount payable and any final payment. · Compare fuel prices before filling up. Check forecourts along your usual route, weighing any saving against the extra distance needed to reach a cheaper station. · Broaden your shortlist. Compare manufacturers you might not usually consider against the same requirements for space, comfort, equipment and price. · Drive smoothly and check tyre pressures. Anticipate traffic, accelerate gently and avoid unnecessary braking. Follow the manufacturer’s recommended tyre pressures and remove unused roof racks or boxes.