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Revealed: Northern Ireland people spend a whopping 22% of earnings on car

When it comes to the cost of car ownership, people living in Northern Ireland spend 22% of their monthly earnings on their motors.

The analysis, carried out by finance firm Moneybarn, revealed Northern Ireland was ranked the fifth most expensive region to own a car, spending on average £453 per month.

East Anglia is the most expensive region to own a car, where they spend 24% of their monthly wages (£437) on their motors.

Surprisingly, London tops the charts as the cheapest place to own a car when taking average salaries into account.

Londoners spend 20.5% of their monthly earnings on their motors, which means from the average take-home pay of £2,908, they spend £595 on their car - proportionately less than any other region.

Other regions where car ownership is less costly include the North East (£431), South West (£470), West Midlands (£454) and Scotland (£453), where residents spend 21.5% of their monthly earnings on their cars.

The data analysis consists of various motoring factors including; purchase price, servicing and repairs, fuel prices, insurance and parking, as well as average gross monthly wages in each UK region’s largest city.

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