Keeping Your Motoring Costs At An All Time Low

Running a car can be such a huge convenience when it comes to getting you around and your general lifestyle. Enabling you to get to work quickly and safely, helping you to do your shopping and run your errands, but if we are totally honest with ourselves running a car can also be expensive. You have the initial purchase to think about, whether that is a monthly budget or a total spend. You have fuel costs, insurances quotes and even upkeep and maintenance to consider. How do you manage it all without it draining your bank balance entirely? I wanted to share with you some of the top tips to keep your motoring costs at an all time low.

Be savvy when you purchase a vehicle

One of the first things to think about would be the overall cost of a car and how much you spend. You may need to workout a monthly budget if you are considering a finance option or even a total spend if you are wanting to buy it outright. However, how do you make sure you get the best value for money? Make sure you do plenty of research and look into buying a new one versus a used one. On finance, often good deals on interest can be had on new vehicles, but equally a juste registered model could provide a huge saving.

 

Look into all insurance providers and costs

Insurance is a must and one thing that all motorists need to have on their vehicles, not just to protect themselves but to protect others as well. It is important to ensure that you look into all aspects of car insurance from different providers. A good idea is to look on comparison websites online who tend to do the hard work for you and can save you time by getting multiple quotes in one go.

 

Work out how much mileage you do

Take the time to think about how mileage you do each week. It can be far easier to calculate that you once thought. You may head to a certain destination each day, and perhaps work on an average mileage for a weekend and voila, you have your mileage figure. Then you can easily put this information into a fuel calculator and based on your current consumption, which your car or a brochure can tell you, you can workout how much fuel will cost each week and month. Helping you to budget and keep the costs down.

 

Factor in a monthly spend for maintenance

Sometimes with the best will in the world, if you don’t save specifically for things you could end up with big bills, this is why you might want to put aside a small amount each month to help pay for servicing and general repairs.

 

Consider how long you keep the vehicle for

Finally, how long do you intend to keep the car? Often when you have a new one the best time to upgrade is when the warranty is about to expire, therefore saving you potentially bills for repairs.

 

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  • David Hurley

    I would also suggest if you are buying second hand (plus three years) then look at the MOT history of the car (https://www.gov.uk/check-mot-history) as this will give you a general guidance on how reliable the car is and whether it’s been adequately maintained.

    Also, with regard to service history https://www.honestjohn.co.uk recommends look for an invoice of the servicing as well as a servicing stamp…as it is easy to just stamp a booklet (if you catch my drift).

    I would also recommend a website such as https://leasecar.uk if you’re happy to not own your vehicle and know what your annual mileage is and this also enables you to get a new car every so many years – I would personally recommend this over PCP plans.

    If you decide on HP: it is probably best not to go down the route of dealer finance as often other loan providers can offer a much better interest rate; dealer finance can sometimes be very high.