Running a car these days is far from cheap. You not only pay for the vehicle, but you also have to cover tons of other costs, these can include: car insurance, road tax, fuel, parking, road tax, MOT, and repairs to name a few. Money Supermarket has done the maths and found out that “the average motorist will spend more than £200,000 over the course of their life time keeping their car on the road”. This number is also confirmed by the Mirror, which reports that the average driver could buy a house from what they spend on their car.
But it doesn’t have to be that way. With a little bit of planning, it’s actually easy to save money on your car. If you’d rather spend your money on more fun things, then we’ve got some thrifty money saving tips for you.
Be shrewd while driving
You should cultivate good driving habits as early as possible. This can help you to save a lot of fuel and ultimately money. Don’t leave the car lights on unnecessarily and don’t drive around with a roof rack unless you need it – the roof rack causes an aerodynamic drag and the car will need to use up more fuel while in motion. You also should avoid accelerating too quickly and don’t rev your engine. While it might not sound like much at first, every little bit helps.
The Money Advice Service says: “An AA test found that the average driver could go 10% further on a tank of fuel by changing a few habits, and the best drivers could go 33% (one third) further.” So even if you’re still learning how to drive, try and adopt these positive habits really early.
If you’ve got a car, it’s almost guaranteed that something will go wrong at some point, so make sure you start saving in advance!
Things are made worse if you rely on your car to get you to work or to bring the kids to school and you don’t want to be desperate for money in these situations. Be prepared and set money aside regularly to cover repair costs because vehicles tend to have the habit of breaking at the most inconvenient times. It’ll stop you from having to take out an expensive loan to cover the repairs.
Do your research
Know what you’re looking for in a car and stick to your guns. You can find some helpful information on buying a car on Which.co.uk. It’s also worth looking into different car insurances and taking a closer look at different policies. Going for the first thing you find might cost you quite a bit of money but if you do your research, you might find a policy that covers everything you need but at a much lower rate than what you’re paying at the moment.