The AA's annual assessment of car ownership costs reveal that the cost of running a family car has risen by less than one per cent in the last 12 months.
At today's prices, a motorist who buys a brand new car in the Band C tax bracket, keeps it for eight years and covers 16,000km per annum will spend €11,934.40 in running costs over the lifetime of the vehicle - an increase of €110.40 compared with last year's figures. This small increase is mainly down to decreasing fuel prices offsetting Ireland's rising insurance premiums.
Due to Ireland's new gender directive, female drivers across the country have generally found their premiums increasing more than men's as the government seeks to bring the difference between male and female policy holders more in line.
"We predicted a three per cent rise overall and that is about how it has worked out," comments Conor Faughnan, Consumer Affairs Director. Despite the rise, he believes that many people found their premiums fall this year. "We can't stress enough that this year more than ever you really should shop around and do your research before you buy."
The contrasting fuel prices have dropped from 162.9 cents per litre in July 2012 to 157.4 cents this year. Even though Irish taxes still keep fuel prices disproportionally high, the AA calculates that the five cent drop in price will result in an average saving of over €80 per year.
Anything else?
Other factors affecting this year's figures include the rise in car tax and the 220 per cent increase in the cost of a driving licence. Servicing, parts, interest charges and depreciation are also taken into account.