How Can You Reduce The Cost Of Owning A Car?
Owning a car in the UK can be quite an investment. With expenses ranging from fuel costs to insurance premiums, motoring is even considered a luxury for some. On average, running costs alone cost more than £2,500 per year and that’s likely increased since those figures were gathered. But there are ways to cut these costs to make driving more affordable.
In this article, we’ll explore how to minimise your driving costs by reducing mileage, saving on maintenance, securing the best insurance deals and optimising your driving habits.
Reduce the amount you drive
One of the simplest ways to cut car running costs is by reducing the amount you drive. Consider carpooling to work or sharing the school run with other parents to use less fuel and decrease wear on your vehicle.
Public transport can be a cost-effective alternative in many situations, as can walking and cycling in others. Planning your trips to combine errands and commitments can also reduce the number of journeys you make, saving on fuel and decreasing your car’s mileage. These changes may also help to maintain your car’s resale value for longer.
Save with proper maintenance
Regular maintenance is crucial to avoid the hefty costs associated with major repairs, many of which result from neglect. Stick to your car’s maintenance schedule as outlined in the owner’s manual — this typically includes regular oil changes, tyre rotations and checks on fluids and brakes. Preventative maintenance is far less expensive than major repairs down the line.
Learning to DIY some basic maintenance tasks can also save you money. Learn how to do jobs such as checking and changing your oil and replacing air filters. When it comes to replacing parts, using manufacturer-recommended parts and fluids is best to extend the life of your car.
Get the best insurance deals
Insurance is usually one of the biggest contributors to car ownership costs. Shop around and compare offers from different insurers to find the best deals, but keep in mind that sourcing car insurance direct from insurers can also save you money.
Adjustments to your policy, such as increasing your excess or reducing your expected mileage, can also reduce your premiums. However, make sure all the details are accurate and that your excess remains affordable if you need to make a claim.
Optimise your driving habits
Your driving style plays a big role in fuel consumption and overall wear and tear on your vehicle. Accelerating gently, choosing the right gears and avoiding excessively high speeds can reduce fuel consumption.
Additionally, turning off your engine when not driving and ensuring your tyres are properly inflated can also contribute to fuel efficiency. The correct tyre pressure not only cuts down on fuel consumption but also prolongs the life of your tyres.
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