Passing your driving test and buying your first car is one of the best feelings in the world. It’s not until you drive the vehicle off the forecourt that you get the feeling of complete freedom and the ability to venture wherever you like, instead of having to walk or using public transport. Although owning a car comes with many benefits, it’s no secret that they can be very costly and not keeping the car well maintained can backfire on you.
Whether you’ve bought the car upfront or you pay via finance or lease, it’s very unlikely you’ll make profit on the car when you it comes to selling it. As well as paying for the car itself, you also have to factor in the cost of insurance, tax, MOT and a number of other services, but there are ways of saving money on your car.
Shop around for insurance
A lot of people don’t like change and just allow their insurance to renew but this isn’t necessarily a good thing. Using price comparison sites like Compare the Market allow you to shop around for deals and you’ll often be surprised with the difference in price. Hacve a peek at their Car Insurance Comparison Tool Although you may have never used a website like this, they’re really simple to use and could benefit you financially. It’s worth shopping around!
Another big contributing factor to lowering your insurance is building your no claims. Driving safely and avoiding any collisions will reflect when you come to renew your policy. If you’ve got a good amount of no claims bonus then it’s obvious that your insurance will come down.
Maintenance is key
It may sound obvious but not looking after your car will end up costing you. Making sure your vehicle has its annual service and MOT as any potential faults will be picked up during these times. The cost of an MOT and service can seem pretty daunting to some people but a lot of companies offer monthly payment plans and some even save you money, so it would definitely be worth you looking into something like this.
As well as servicing your car and booking it in for an MOT, you need to check the vehicles tyres regularly. Tyres are often forgotten about but not maintaining them properly will not just cost you financially but it can be very dangerous. Depending on the make and model of your car, tyres vary in price but don’t let this put you off. If your vehicle needs new tyres then have a look online first before booking it into the nearest garage. There are many companies who sell tyres varying in price, such as www.kwik-fit.com so do your research and shop around.
Ask for a mileage discount
A lot of people won’t have heard of a mileage discount and not many companies offer the service, however it’s worth asking about. If you work from home or maybe even cycle to work then some companies and insurance agents will offer you a discount on your premium. As I said, your employer may offer this benefit but it’s not very common, but there’s no harm in asking.
Even if it’s saving a few pounds on your insurance, shopping around and doing your research will financially benefit you and after all, who doesn’t want some extra money in their pocket?