TWO-THIRDS of drivers in the North-East believe running a vehicle costs less than a quarter of the true figure.
New figures released reveal that drivers in the region estimate monthly running costs to be less than £100 when in reality they are on average £416.
The costs of running a car in Britain is more than 15 per cent higher than in Spain, Italy, France and Germany.
British motorists are stung by higher fuel costs and taxes than European counterparts.
It can also cost up to £2,000 more to buy a car in the UK than in other European countries. Depreciation costs drivers a similar amount.
The average British driver covers 12,500 miles a year at a cost of about 40p a mile.
Philip Southgate, of Prudential Car Insurance, who carried out the research, said: "There are a number of hidden costs incurred when running a car. You know how much your insurance is every month, but every time we make a journey, we unknowingly add a little more to the monthly cost - fuel, parking, mileage and even penalties."
The company advises motorists to shop around for insurance, haggle with dealers on car prices, save fuel by reducing speed, carry out weekly check-ups on cars and buy smaller cars.
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