Discover 5 straightfordable ways to cut your car costs
Much as we love our cars, there’s no denying they can be a serious drain on our pockets. Tax, insurance, fuel, MOTs: it all adds up. So how can you save money on keeping your motor on the road? Here are our top 5 straightfordable ways to cut your car’s running costs.
1. Find your cheapest local petrol pump
According to the AA, saving 5p a litre on the price of fuel could mean an extra £100 in your pocket at the end of year . So avoid pricey motorway service stations and fill up at your cheapest local pump whenever you can.
Budgeting tip: To save you driving around looking for the best prices every time, sites like petrolprices.com can point you in the right direction.
2. Shop around for insurance
When your renewal date arrives, shop around for the best price on your car insurance. There are a hundreds of insurers jostling for your custom, so scour the internet to compare the many deals out there.
Budgeting tip: Think carefully about the extras you want to include. Breakdown cover for example, might be better value bought separately.
3. Gently does it
Easing up on the accelerator and keeping a watchful eye on your speedometer can save you some serious cash. According to the AA, driving at 70mph uses 25% less fuel than driving at 80mph.
Budgeting tip: By accelerating gradually, and avoiding frequent braking, you can cut your fuel costs even more.
4. Keep your car in good shape
Don’t forget to give you car some TLC. Keeping it in good nick means it will run better and cost you less in the long run. Simple things make a difference. Regularly check your engine’s topped up with oil and water and treat your car to a service every year.
Budgeting tip: Don’t forget to check your tyre pressures regularly too. Deflated tyres cause drag, so your car has to work harder and drink more fuel as a result.
5. Lighten the load
Unnecessary weight can turn a little run-around into a gas-guzzler. So clear out your boot and lose the roof rack unless you’re using it. Remember, fuel is heavy too. To make your car more efficient fill up more regularly and only put in half a tank.
The only time a heavy load makes money saving sense is a car share. If you commute by car, could you share the journey and the cost with other people on the same route? There are online services that will help match your journey with other like-minded people.
Budgeting tip: Remember, fuel is heavy too. To make your car more efficient fill up more regularly and only put in half a tank.
Saving for those little surprises
A few changes here and there can certainly cut your car’s running costs. But it can be a wise move to also save some money for that unexpected breakdown or MOT failure. And what about those dreams of a better car in the years ahead? Read our article What is an ISA? to learn more about saving money in a Cash ISA or Stocks and Shares ISA.
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