Study: Motorists Underestimate Annual Car Costs by About €1,000

The research, which analyzed household spending on car ownership and operation, found that drivers typically budget for fuel, insurance, and maintenance but overlook depreciation, repairs, and other hidden expenses. The study's authors say the gap between perceived and actual costs can lead to financial strain, especially for lower-income households. They recommend that drivers track all vehicle-related outlays over a full year to get a realistic picture of their true motoring budget.