Motoring costs up to 20% of wages

The average worker spends nearly a fifth of their wages on essential motoring costs.

Research from YourParkingSpace.co.uk found that costs of car finance, fuel and insurance account for 19.5% of a motorist’s salary, with some £362 of the average monthly take home pay being swallowed up by car related expenses.

The biggest outlay was on car finance, followed by fuel and maintenance costs including MOTs. It also emerged that workers who have to factor in daily parking expenses on top of essential motoring costs could find their commute costing as much as £465 a month.

Harrison Woods, managing director of YourParkingSpace.co.uk said, ‘We know that people are travelling further and spending more than ever to get to work, but considering that we primarily go to work to earn money, it’s staggering to realise that the average worker is spending so much of their wages on just getting there each year.’

She added, ‘I would urge anyone who is trying to cut the cost of their journey to shop around for the best deals on all of their motoring expenses. For workers who have to pay for parking, using a site like ours will mean they can benefit from the most convenient and cost effective deals and could save them hundreds each year.’