Billions goes into running costs

Brits spend £206bn on car running costs before trading in their vehicle after an average of three years 10 months.

New research from American Express has found that car owners will outlay an average of £5,670 over the typical period of car ownership, which is just over half the average car purchase price in 2017 (£11,094).

Jenny Cheung, director at American Express said, ‘While running a car can be a costly affair, shrewd shoppers can get something back for their spending by putting car-related purchases on a card that earns rewards or cashback.’