Car ownership involves a series of recurring expenses that, driven by inflation, continue to rise. Beyond the initial purchase investment, owners annually face mandatory costs such as insurance and road tax, in addition to garage rental, cleaning, and mechanical inspections.
Fuel expenses represent one of the most volatile items. Gasoline and diesel prices have seen significant increases over the past year, with rises of 23% for 95 octane gasoline, 19% for 98 octane, and 39% for diesel. Filling a 45-liter tank of 95 octane gasoline has gone from 54 euros to 66 euros, while a 65-liter diesel car now costs 30 euros more than a year ago.
“"The range of insurance prices is very wide and adapts to the client's budget."
Vehicle insurance is another unavoidable expense, with costs generally ranging between 300 and 500 euros annually, potentially reaching 800 euros for comprehensive policies without excess. Canarias is among the autonomous communities with more affordable insurance, below the national average of 403 euros, due to factors such as policy type and coverage chosen.
The Municipal Vehicle Tax (IVTM) varies between 30 and 200 euros in the islands, depending on characteristics such as engine size and age. Santa Cruz de Tenerife stands out for having the lowest road tax in the country.
Given the difficulty of finding parking, many drivers opt to buy or rent a garage space. The average purchase price of garages in the archipelago increased by 20.4% in 2025, reaching 15,520 euros. Monthly rent is between 70 and 100 euros, totaling between 840 and 1,200 euros annually. Car wash services have also seen price increases, with a basic self-service wash costing around ten euros and professional services starting from 30 euros.
