For many people, a car is an essential part of their life and something that they rely on heavily throughout the week. Owning a car can also be a real money pit and, if you aren’t careful, your monthly expenses can spiral out of control. So, how can you save money on your car running costs? Read on for a few handy tips.
Fuel is one of the major costs to cover and obviously one that is essential. Fortunately, there are ways that you can make savings here such as researching prices around your local area to find the cheapest place to fill up. You can also make use of loyalty and reward schemes to get something back on all the money that you spend on fuel.
Repairs, Servicing & Maintenance
Automobiles need regular maintenance, but significant issues can still arise that can be costly to resolve. You will want to perform your own regular maintenance to keep the car in the best possible condition and to reduce maintenance costs in the long term. However, not all tasks can be done at home – so it always worth shopping around to find a reliable garage for repairs and servicing. Sometimes it can be more cost-effective to buy tyres and other parts online before providing them to your mechanic.
Car insurance is a legal requirement, but it is another major cost to cover each month, particularly for younger and newer drivers that are deemed a higher risk. Again, it is worth shopping around to find the best quotes but always make sure that you have sufficient insurance in place. If you are a young driver, adding a credible named driver can be a smart way to reduce your premium. While it is another expense, you could also look into an extended warranty if the manufacturer’s warranty has expired – it could save you thousands in the future.
Drive Less Where Possible
Driving less will obviously make a big difference to your vehicle running costs as it can reduce your fuel costs and could even lower your insurance. Where appropriate, try walking or cycling instead as these are free, better for the environment and good for your health.
Hopefully, this post will help you to make savings on your car costs each month and make a positive difference to your financial situation. Cars can be incredibly expensive to keep running, but there are always ways to make savings that should be considered if you are struggling to make ends meet or simply want to free up some cash.