Spend Less On Your Car – 5 Tips

download (88)Your car. You need one, we all need one. This necessity means that we are going to spend our hard earned cash on these things. So which ways are there to keep our spending in check in our cars?

Let’s look at a few ways to keep the miles ticking over, and the pounds firmly in your pockets.

1) Insurance.

This is the enemy of the pockets of all young drivers, and sometimes older drivers can be stung too. So how can you keep this enemy at the gates? This is a simple fix, use a comparison engine. It’s been said again and again, but it is very common for people to just stick with their insurer. Loyalty will get your wallet nowhere in this game! Make sure you look around, and always keep these pesky insurers on their toes!

2) Driving speed

Keeping your speed low on the motorway can save you hundreds of pounds, per year. If you use the motorway frequently, we are talking in the thousands. Remember, this is all tax free money that you could be using for something else. So remember, the speed limit wasn’t designed for optimal fuel consumption, it was designed for safety. So if you view your driving a little slower as an investment to your back pocket and your future it will help. Keep the speed low, and get to your destination a richer person.

3) Buying costs

Always remember, that with a more expensive car, come a more expensive recurring cost. Your car isn’t just a one off payment. Depending on the group your car falls into, it affects your insurance. If you need replacement parts, or specialist work, that is more expensive. So view your car as a subscription service you are paying. The higher the initial cost, generally the higher subscription cost you are also paying. If you can make do with a smaller “subscription” that will mean more money in the bank, less in the hands of Mercedes!

4) Petrol/Diesel

The fuel you use in your car can have a big effect. These days, the gap is closing between the efficiency of petrol and diesel. But traditionally, diesel cars are more fuel efficient. On the flip side, hybrid or even electric cars are even cheaper! Taking into consideration these could results in a much lower cost of driving for you.

5) Drive less

This may defeat the object of having a car, but often, if you are able to commute to work using public transport, the overall cost of driving will be far reduced. This may not be feasible for your circumstances, but in big cities, this is almost always the best option!