Northern Car
Rising Running Costs Affect Car Loans
In the space of just one year, the cost of running a car in Northern Ireland has risen by £2,105, putting car loans at risk.
The AA has found that rising petrol prices and road tax have pushed up costs, further compounded by heavy resale losses. As a result, the cost of driving has risen at four times the rate of inflation.
4x4 drivers are the hardest hit due to heavy taxes imposed on 4x4 drivers, which have resulted in a rise in price of around 22% compared to last years costs. But 4x4 drivers are by no means the only victims, with the average family car seeing a rise in costs of around £601 since last year.
Despite these alarming hikes in prices, Northern Ireland is still performing better than the rest of the UK when it comes to the cost of running a car. AA spokesman Luke Bosdet says:
“Petrol and diesel costs are down on the national average of 12% and 11% respectively. Northern Ireland insurance figures have remained a lot more static than in other parts of the UK, which is why the increase in running costs hasn't been as big.
But drivers in Northern Ireland are still paying significantly more than this time last year.”
Government imposed road tax has significantly reduced car resale values, meaning that many are left paying off car loans that far outweigh the current value of their car.
Due to the drop in resale values many are put off selling their car even though they cannot afford to run it. Selling would mean a loss too big to swallow, leaving them still paying off car loans for a car they do not even have.
About the Author
Carys is an author of several articles pertaining to Car Insurance. He is known for his expertise on the subject and on other Business and Finance related articles.
Northern Car
 |
 HO Scale GN BIG SKY BLUE GREAT NORTHERN 10 CAR SET  US $1,299.95
|
 WR Enterprises NORTHERN PACIFIC MOW 4 CAR SET F P US $1,098.85
|
 Westside Brass Great Northern Empire Builder 5 Car Set US $500.00
|
 Oriental Limited Daeki BRASS Great Northern Heater Car HO Scale in Original Box US $372.89
|
 HO MTH Northern Pacific Lines NP 5 car set internal Lighting US $369.95
|
 HO MTH Northern Pacific NP 5 Car Passenger Set US $359.95
|
 FUJIYAMA Northern Pacific HO BRASS 4 8 4 ENGINE CAR Model Train Class A5 US $350.90
|
 MTH 81 60006 HO Scale 5 Car Passenger Set Northern Pacific US $298.95
|
 Great Northern GN 1190 1194 Coulee Series Observation Car Oriental Ltd Brass US $290.00
|
 PALACE CAR COMPANY GREAT NORTHERN LIGHTWEIGHT COACH 1138 US $249.95
|
 PALACE CAR COMPANY GREAT NORTHERN LIGHTWEIGHT COACH 1147 US $249.95
|
 Great Northern Empire Builder Passenger Cars US $200.00
|
 HO BRASS WR Northern Pacific M of W Dining Car NO RESERVE US $175.00 |
 Spectrum HO Scale Great Northern 6 car passenger set w lights interiors NEW US $149.95
|
 4 Walthers HO Ready To Run Great Northern Empire Builder Pass Cars New In Box US $124.99
|
 Train Set GREAT NORTHERN EngineTender3 cars Mikado 2 8 2 HO Scale US $124.95
|
 RIVAROSSI BURLINGTON NORTHERN Passenger Car BN SET HO Scale Train mint US $123.22
|
 Broadway Limited Great Northern Stock Car Hog Sounds US $110.00
|
 TENSHODO BRASS GREAT NORTHERN HO GAUGE STREAMLINED OBSERVATION CAR WOB US $100.00
|
 12 CON COR HO SCALE GREAT NORTHERN EMPIRE BUILDER PASSENGER CARS US $99.99
|
 Walthers HO Ready To Run Great Northern Empire Builder Pass Cars New In Box US $99.99
|
 Walthers HO Burlington Northern 100 Ton 3 Bay Coal Hopper 6 Car Set US $99.98
|
 EQ TYCO BOX CAR BURLINGTON NORTHERN HONG KONG US $95.00
|
 24902 16 Trix Marklin HO Scale Train NP Northern Pacific Coal Hopper Car Mint US $89.99
|
 Hi RAIL INSPECTION CAR GREAT NORTHERN 29 SEDAN DC DCC POWERED HO Scale US $89.95
|
 HO TRAINS GREAT NORTHERN PASS 5 CARS TRAIN SET 57 SS US $89.50
|
what age do you have to be to lease a car in northern ireland?
Northern ireland car leasing
I think it's 21