The cost of a vehicle doesn’t end after being purchased. Petrol, repairs, Insurance, registration, WOF, servicing – little costs can add up quickly. Here are some money-saving tips for you.
Saving on petrol
Did you spend your summer cruising on road trips, or did the thought of your petrol bill make you stay put at home? You don’t have to sacrifice your ‘wanderlust’. With a few simple steps, you can reduce the cost of filling up your car.
Check the tyre pressure regularly. You could achieve petrol savings of around 2% by maintaining the correct PSI. When your tyres aren’t at optimum pressure, they ‘hug’ the road more, creating drag and making your engine work harder.
Reduce your speed as going faster also uses up more petrol. By staying at or under the speed limit you are keeping your revs lower and reducing the strain on the petrol tank. Just make sure you are considerate of other road users.
Keep the windows up. Aerodynamics have a part to play in fuel consumption. Having the windows down creates draft and drag – eating into your precious fuel.
Saving on repairs
Do you regularly have your car serviced, or do you leave it until something goes wrong? Thinking you are saving money by not having regular services is really just a false economy.
Regular services keep your car running smoothly and mean that worn out parts can be replaced before they become a major problem. It costs a lot less to do an oil and filter change, for example, than it does to replace your engine if it seizes.
Spending a little bit of money every year can end up being a lot more economical than the big hit of major repairs. In addition, by carrying out some of the small non-mechanical tasks yourself, such as replacing worn wiper blades, you can save money on installation costs. Check out the AA Motoring blog for more tips on car maintenance, and of course, make sure you leave the big stuff to professionals.
Saving on Insurance
Look at your Insurance and see if there are ways you can save money while still keeping the right level of coverage. If you have no drivers under 25, for example, most Insurance providers will give you a discount on your premium if you specifically exclude any cover for younger drivers.
You may also consider having a higher excess. If you have an emergency fund put aside, you might be able to take on more of the cost yourself, if you need to make a claim. Having a higher excess can be a good way to save hundreds on your premiums over the years. When choosing your excess, just make sure you’ll have the funds to cover the sum.
Where do you keep your car? If you keep your car in a locked garage, you may find you can get a cheaper premium than what would be charged if your car is parked outside most of the time. At the same time, cars with alarms or immobilisers often get a reduced premium as well. Once again, looking after your vehicle can have premium advantages.
We’re here to help
The costs of maintaining your car after you buy it don’t need to be a drag on your finances. So these are some of our tips for saving money on car costs; what else do you do to save money?
If you’re in the market for a car loan, talk to the team at AA Finance. Contact us on 0800 500 555, seven-days week between 9am and 5pm. We’re here to help.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure the content is correct, the information provided is subject to continuous change. Please use your discretion and seek independent guidance before making any decisions based on the information provided in this article.