How to Reduce Car Running Costs

car gasSecond only to a home, a car is one of the most significant purchases that many consumers will make during in a lifetime. It can be a major financial investment, and although factors like safety, cargo space, and technology are all important; price is one of the most important issues for many buyers.

Yet it’s not enough to look at the Ford Focus or Alfa Romeo Giulietta prices at carsales.com.au to determine cost. When calculating the true price of a car, it’s important to look beyond the sticker price. The daily cost of running a car can cost a household an average of £3000 per year, according to Sainsbury’s Finance. Fortunately, there are several things you can do to lower your running costs and keep this expense from eating up your budget.

Shop Around for Petrol

Petrol prices can vary considerably between one provider and the next, so it’s worth keeping an eye on prices in your area to save money. Online petrol pricing maps are useful tools, and there are comparison apps like WhatGas which can help you compare your options. Bear in mind that if you have to drive out of your way for a slightly lower price on fuel, you won’t really be saving any money. In most cases, supermarkets will offer the lowest prices and tend to have special deals during the week or vouchers for regular shoppers.

Collect Reward Points

Many larger fuel brands will also offer reward points for your purchase, which can be redeemed later for bigger savings. For example in the UK, BP offers Nectar points for each pound that you spend on petrol, and there are similar deals in any country you might be driving in. Credit card companies also might offer reward points or vouchers when you use your card to fuel up your vehicle.

Choose a More Efficient Car

Naturally, one of the best ways to save money on running costs is to choose a more efficient vehicle in the first place. Diesel or hybrid cars tend to offer the best mileage. The new Peugeot at carsales.com.au is even available in a diesel-hybrid combo. However, these may incur higher prices up front. As you shop around for cars, compare their mileage and resale values carefully to find the best value. You can also make use of add-ons like fuel saving tyres, which can make your existing vehicle more efficient.

Compare Insurance Policies

Insurance costs are another major issue to contend with. It may seem like old advice, but shopping around for the best deal really can pay off when it comes to auto insurance. The price of premiums and level of coverage can vary considerably, so it’s worth using tools like moneysupermarket.com or gocompare.com to see what’s out there. You can also lower your premiums by using tactics such as parking your car in a garage at night and taking a defensive driving course.

Carry Out Regular Maintenance Checks

It’s tempting to put off repairs and maintenance if your car is in proper working order, but this strategy can come back to bite you down the road. Taking your car in for regular servicing can prevent more expensive problems from developing. Simple servicing including oil changes can help make your car run more efficiently at the same time.

By following these tips and finding simple ways to reduce running costs here and there, you could save a great deal in the long run.

Related posts: