Costs of running a car now higher than average mortgage

KEEPING a car on the road is now as expensive as keeping a roof overhead with the cost of running a typical family car overtaking the mortgage in the average Irish household.

The AA (Automobile Association) annual motoring costs survey found the average motorist clocks up €800 per month in running costs while an IIB Bank survey earlier this month found the average mortgage was just over €600 per month.

That is despite a 1% reduction in motoring costs over the past 12 months, with the average annual bill now coming to €10,383 compared to €10,505 this time last year.