How to Save Money Running a Car
Car ownership is expensive. From fuel and servicing costs to road tax and MOTs, we all pay dearly for the privilege of having four wheels at our disposal. Yet for many people, a car is a necessity rather than a luxury. In this article, we are going to look at how you can save money on car ownership. You never know, it might allow you to upgrade your old banger to a snazzy new convertible!
Do You Really Need a Car?
There are some instances where a car is a luxury and owning one makes zero financial sense.
Anyone living inside London’s congestion zone is crazy to own a car. Whilst you claim a 90% discount on the £11.50 charge per day, it’s still an expensive way to traverse the city. You are much better off sticking to public transport instead.
It’s pretty much the same story in most other cities.
Do you live in a rural area? If you do, a car is a necessity. Public transport is notoriously rubbish in rural areas, with many villages lucky if one bus a day passes through. You can’t even rely on the internet for your shopping, as internet access is equally poor. Unless you are happy walking or cycling everywhere, be prepared to stump up for a car.
For those of you who need a car, here are some more tips to save money.
Cutting the Cost of Fuel
Use a fuel price comparison website to search for the cheapest fuel near you. Supermarkets are usually the cheapest places to fill up, but always shop around first.
Don’t fill the tank to the brim when you do need fuel. A car with a full tank of fuel is heavier, so it burns more fuel. It is more cost effective to only fill up the tank to the halfway point, unless you know you have a long motorway journey ahead. In this instance, take advantage of cheaper non-motorway service stations – motorway petrol stations charge around £0.20/litre more.
Reduce Car Maintenance Costs
Maintaining a car is expensive. The more miles you do in a year, the greater the toll on your vehicle. New tyres, wear and tear – it all adds up. If you do a lot of miles, it may be cheaper to lease a vehicle rather than buy one outright.
When you lease a car, the road fund licence is included. If you have a car maintenance package included, you can forget about maintenance and servicing costs. If you want to find out more, check out these car leasing deals from Vantage Leasing where you can request a quote to see how much a lease on the car of your dreams may cost you.
Instead of forking out for the full cost of running a car, consider sharing it. Car sharing on the daily commute helps to cut the cost of driving to work. It’s a good idea to try this if you work on a large industrial estate with several big businesses.
Finally, always moderate your driving. The faster you drive, the more fuel you use. You’re also more likely to get hit with a speeding fine, which is an extra expense you probably don’t need.