The true cost of owning a car revealed, as Brits spend up to a QUARTER of salaries on their motor
Car owners in East Anglia allocate a whopping 24 per cent of their monthly earnings on their vehicle, while Londoners spend the most on their motor at £595
EAST Anglians spend £437 on their cars every month, which amounts to 24 per cent of the average £1,800 salary.
Meanwhile, although Londoners allocate the smallest proportion of their earnings to their motor compared to the rest of the UK with 20.5 per cent, they also pay the most at £595 per month.
The true cost of car ownership, found by finance provider Moneybarn, based calculations on purchase price, servicing, repairs, fuel, insurance and parking.
Figures were then compared to the the average gross monthly wages in each UK region's largest city.
It also found that the Government only spends £274 on East Anglia's road infrastructure per car annually.
In comparison, public funding is £408 per car in the North East where residents also pay the least on their car costs at £431 every month.
This includes having the cheapest parking in the UK, with an average of £74.65 per month.
Unsurprisingly, Londoners pay an eye-watering amount on car parks totalling £238.86 over the same period of time.
However, these costs are somewhat offset by the average £2,908 monthly salary.
According to figures released today by the AA, August's lowest petrol prices were found in the North East as well as Yorkshire and the Humber, costing 128.8p per litre for unleaded.
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While both petrol and diesel was most expensive in the South East at 130.4p and 133.1p per litre, respectively.
Despite the huge costs, the cost of owning a car in the UK has gone down in the past decade when adjusting for inflation.
UK fuel is the tenth most expensive in Europe, with the Netherlands, Italy and Greece charging the most.