Cars cost money. We are all aware of that. They can cost us in the initial purchase, they can cost us to run, maintain and insure them. They can even cost us when they are sat innocently in a car park thanks to other people’s lack of respect for property, scratches and dents sound familiar? However, with all of these necessary and sometimes unforeseen and unbudgeted for costs, how do we keep them down as low as possible? I have the tips and solutions to help you out.
Knowing fuel costs and getting more out of your vehicle’s fuel efficiency scores
Do you know how much you spend in fuel each week or month? The chances are you probably estimate it based on how often you fill your car up. However, you can work out a more accurate figure, and you can take actions to try and save yourself some money. Working out how much mileage you do each week is the key point, and then calculating that into a fuel efficiency system can give you a weekly or monthly spend. Easy! However, now you have the control to try and save yourself some money. Knowing how much miles you get to the gallon is a one step to take, and then changing the way you drive to increase that consumption. Driving at the right speed, avoiding revving the engine high in lower gears, and even taking advantage of your vehicle stop start function, if it has one, can all help to increase your mile per gallon and then ultimately allow you get more miles out of your tank. More miles means less trips to the fuel station.
Budgeting for maintenance and taking advantage of offers
Maintenance is a given. A car needs a regular service and obviously at some stage things can go wrong, especially once you car hits the two year old mark. Manufacturers like vauxhall have things like the Vauxhall Service Club which can offer discounts on services and maintenance costs. Other manufacturers may do similar schemes. Some dealerships offer payment plans for service costs, enabling you to budget for them and receive a cheaper quote in the process.
Re-evaluating your insurance premiums every year
Insurance is a monthly or annual cost we can not avoid. But getting the best possible deal is something we can do. Failure to shop around come your renewal period means you could be spending more each month or year than you need to. Using comparison sites like Compare The Market is a great tool to take advantage of.
Is it more cost effective to part exchange your vehicle?
Finally, is it better to keep your car or part exchange it in? What is the most cost effective? The truth is there are pros and cons to both. However, taking advantage of a warranty period and then part exchanging before it runs out tends to be one of the most common ways to own a car in this day and age. This saves you on repair costs once the warranty has ran out, which in some cases, can incur very high bills. A car is a depreciating asset, so you want to ensure you get all that you can from it, without it costing you a fortune.
I hope these money saving tips help you when running your car.