The Automobile Association says in figures released this week that the overall cost of running a car has dropped by 1 per cent in the past year. But as the Weekend Herald reveals today, the cost of running cars in the most popular bracket has risen bymore than 3 per cent.
For the average professional it may be time to weigh up just what is the biggest drain on that hard-earned salary.
The AA figures take a broad average from vehicles in four categories.
But the likes of Ford Mondeo and Nissan Primera drivers in New Zealand - whose vehicles are in the most-popular, 1601cc to 2000cc engine-size category - face a rise in running costs of 3.1 per cent.
The price tag of just under $37,000 means owners will expect value for money.
But AA technical adviser Jim McCutcheon says that the moment a new car is driven out of the showroom it loses $2000.
Then there are the annual fixed costs to contend with, such as insurance and warrant of fitness, and the running costs of fuel and repairs.
It all adds up - the average family car with a 1601-2000cc engine capacity will cost its owner $9611 a year.
That's up $288 on the average running cost last year, says the AA.
And it could be even more than that.
The AA estimates insurance at an average $805 a year. A quick call to some insurance companies, including Tower, AMI and State, reveals the cost could be up to $2300.
Mr McCutcheon says: "The biggest cost is the depreciation from the moment the car leaves the forecourt to the mileage used.
"Even if you have a car sitting in the garage and not being used, it's still devaluing through time."
The AA's figures were only a guide, but the reason for the cost increases in the most-popular category was depreciation.
Surprisingly, increases in fuel prices have little effect on the annual cost of owning a car, says Mr McCutcheon.
So instead of complaining next time you fill the tank or start paying the bills, perhaps it's time to start taking a closer look at what you're driving.
