Even though inflation is currently more than double the target rate of two per cent, motorists are being hit with even higher increases in average prices for insurance, MOTs, tax and petrol.

Such is the allegation of uSwitch, which has found that the average UK motorist is now spending 2,395 pounds to keep their vehicle on the road. However, it noted that if recent increases in such motoring bills had stayed in line with inflation, costs would be more than 600 pounds lower. According to the group, in such a scenario, Britons could expect to spend 1,787 pounds a year keeping their vehicle running. Car maintenance was identified as being a particularly expensive area, with repairs now costing 11 per cent more than they did a year ago. Compared to 1997, Britons were said to be paying up to 1,000 pounds more today to pay for maintenance.

For those struggling to find a way to meet such costs, taking out a car loan may prove easy and effective. This type of loan may be of particular interest for those planning on purchasing a new motor in the coming months. Indeed, opting for a new car may help consumers to cut down on long-term areas of expense such as car insurance, which was found to have outstripped inflation by 29 per cent over the past decade. As such, the price comparison site noted that while average premiums stood at 311 pounds 11 years ago, consumers can now expect to pay 535 pounds to get the same level of cover.

Consumers were said to have found some respite in vehicle excise duty, which was revealed to have increased in line with the target level of two per cent. However, above-inflation rises in the cost of petrol witnessed in the past decade have resulted in Britons spending an average of 521 pounds more on fuel than they would have if petrol and diesel had increased at the target rate.

Further findings from the price aggregator indicated that many consumers may be finding it difficult to purchase new vehicles in worsening credit environments. The firm recorded a 13 per cent fall in the number of new car sales as the twin effects of tightened lending criteria and heightened running costs keep consumers away from the forecourt.

Ashton Berkhauer, insurance expert at uSwitch, commented: “The government has been accused of being anti-motorist and there is little in our report to persuade Britain’s drivers otherwise. The cost of petrol, insurance and servicing has soared, far outstripping the rate of inflation. Collectively, British drivers are forking out 19 billion pounds more a year than they would have had to if the cost of keeping a car on the road had simply increased in line with inflation over the last decade.”

Making an application for a car loan may prove an attractive option with those struggling to raise the funds for a new vehicle. Opting for ths type of loan may also help cover inflated car insurance costs, with comparethemarket claiming that the average driver spends an additional 31 pounds on cover to meet the costs associated with uninsured motorists on Britain’s roads.