02 03 04 Olds Alero Audio Equipment 68055 on 2040-parts.com

What does owning a car really cost you?

Not many things are more terrifying than looking at your bank statement every month to see how badly you blew it. But aside from the day-to-day expenses, ever wonder where exactly all of your money is going? Our friends at The Wall Street Journal's MarketWatch site say that AAA's annual report on driving costs for 2013 suggest that it's your car sucking the life out of your bank account.

Alfa Romeo MiTo Live launches

Alfa Romeo has launched a limited edition MiTo – the MiTo Live – with a Pioneer App radio and Marmalade ‘Black Box’ Insurance aimed at new drivers. So on the engine front the MiTo Live gets Alfa’s 875cc two-cylinder turbo – a crackingly good little engine – which delivers up a modest, but fun, 85bhp with emissions of 98g/km and the promise of 67.3mpg if you drive like a saint. And if you do drive like a saint, there’s a cost saving beyond great fuel economy.

Petrol cars twice as likely to fail MOT on emissions

The latest MOT test data shows that 26.2% of all cars tested fail on excess exhaust emissions – and surprisingly petrol cars fail more than twice as often as diesels in this part of the annual roadworthiness test. According to the official Vehicle Operator and Standard Agency (VOSA) figures, which cover all of 2010 and the first nine months of 2011, 9.7% of petrol cars failed to meet MOT emissions standards compared to just 3.9% of diesels. On Bing: see pictures of the MOT test Find out how much a used car with 12 months MOT costs on Auto Trader The analysis has been carried out by fuel additive “provider” Redex, which naturally has an interest in the findings, since its products are designed to breakdown engine deposits and improve efficiency.