Owning a car is not cheap. For a start, there is the cost of the vehicle to think about. Even if you buy a second hand car, you often need to spend thousands of dollars to find a reliable model that isn’t going to break down in the middle of the highway.
And once you’ve forked out for the car itself, you then have to spend another huge chunk of money to get it taxed, insured, and regularly maintained and serviced. Fuel is an enormous expense for drivers at the moment. The cost of gasoline has skyrocketed in recent months, and many car owners are struggling to even afford to get to work.
Many people in large cities with good public transport links might be able to get by without an automobile, but not everyone is so lucky. Particularly if you live in a more rural area and it is your only reliable mode of transport. It is essential for getting to and from your palace of work, taking children to school, doing the weekly grocery shop, and socializing with your loved ones. But it does take a huge toll on your bank account.
Fortunately, there are several ways to save money on your car ownership. By being a savvy driver, you can drastically slash the amount you spend each month on your vehicle. Here are ten great tips to help you cut costs.
Drive less
Using your car less might not be the advice you were hoping to hear, especially considering you’ve spent a lot of time and money on finding the perfect car. But this doesn’t mean you have to sell your car and walk to work instead. It just means you should find ways to cut out unnecessary journeys. You may need your car to travel the thirty miles to the office, but do you really need to drive half a mile to the gym or supermarket? Forever journey you take, assess whether or not a car is really essential. Every trip adds up, and you could end up saving a few hundred dollars a year with a slight change to your driving habits. Most journeys could be completed easily enough by foot or bike instead.
Buy second hand
No one needs to own a brand new, state of the art car. These are more of a status symbol and a display of wealth than an essential item. You can buy a perfectly reliable car for a fraction of the price if you are willing to shop second hand. If you’re on the hunt for a new vehicle, look around dealerships and visit trader websites to help you find something in your price range. You could even use local Facebook groups to see if anyone is selling their vehicle. The only downside to a secondhand car is that it doesn’t come with a guarantee of quality and reliability. That’s why it’s always essential to inspect the car and take it for a test drive before buying.
You can also buy second hand car parts and other driving equipment relatively cheaply online. After all, there is no reason you can’t opt for used Ford Ranger aftermarket parts rather than brand new ones to save a little money.
Compare insurance companies
Car insurance can often come at an eye-watering cost, but it just so happens to be a legal requirement if you’re out on the road. Insurance is a lifeline in the event of an accident, breakdown, or car theft, and when disaster strikes you’ll be glad you had it. But if you’re paying an excessive amount for your insurance, you may be able to cut the cost by switching to a cheaper company. Using a comparison site, you’ll easily be able to look at the different offers available and you may find it’s more cost effective to switch to a new company rather than simply renewing your existing policy.
Find cheaper fuel
If you have a habit of filling up at the same gas station every single time, you may be missing a great opportunity to save money. Fuel prices are changing all the time, and some outlets charge a lot more than others. It’s worth shopping around to see if there is cheaper fuel on sale nearby. There are websites you can use to compare the price of fuel in your area, so you can get the best deal possible when you next need to fill up. You may need to drive a tiny bit further to get there, so you’ll need to work out whether or not this is cost effective. Keep an eye out for low petrol prices whenever you’re on the move too. If a remarkably low price catches your eye, don’t hesitate to stop and fill up right then and there.
Be a fuel-efficient driver
You can save a huge sum of money simply by changing the way you drive. Many drivers burn through fuel unnecessarily, and it doesn’t even help them get to their destination any faster. Gasoline and diesel are expensive resources, so use them sparingly. There are a number of fuel-efficient driving techniques you can adopt which will get you a lot further before you need to fill up again. For a start, you should be driving steady, without any erratic acceleration and deceleration. Try to maintain a steady speed when out on the road, and slow down gradually rather than slamming on the brakes whenever you get to a junction or traffic light.
Lighten your load
The heavier your car is, the more drag it will experience on the road, thereby using a lot more fuel than necessary. Make a conscious effort to keep your car as light as possible. This means removing anything from the trunk and backseats that doesn’t need to be there. Keep your car clean and litter free at all times, and in the long run this habit will add up into cost savings. The same applies when filling your tank. If you are the kind of person that fills their tank all the way to the top, you’re simply making your vehicle heavier, and are not being as fuel efficient as you could be. Instead, it’s more cost effective to fill it to one half or two thirds of its capacity.
Find free parking
How often do you spend a few dollars on parking when you’re in the town or the city? It might seem like small change on each individual occasion but all these expenses really do add up. By being prepared and doing some research, you may never have to pay for parking again. It is relatively easy to find free street parking in most urban areas if you know where to look. Side streets and residential areas are often full of free and easy parking. Just be mindful to park considerately and not block driveways or thoroughfares.
Learn basic car maintenance
Most people take their cars to the mechanic whenever they have an issue, but the majority of the time, these fixes can be done at home. A regular service is essential, but anyone can learn these skills with a little guidance and support. There are plenty of YouTube videos that can walk you through the basics, but a workshop or online course will be even better at equipping you with all the tools and knowledge you need. Once you’ve learnt your stuff, you may never need to pay a mechanic again.
Carpool
Next time you drive to work or ferry the kids to school, consider whether you could car share with a colleague or another parent. If there are drivers who live near you, ask them whether they would be amenable to car sharing. Splitting journeys with another person will slash your driving costs by half. Not to mention the fact that it is more eco-friendly, as it reduces the number of vehicles on the road.
Drive safely
This final tip should go without saying, but it’s incredibly important that you drive safely. This is not only beneficial for the safety of yourself and other road users, but it could also save you a large chunk of money at the same time. If you are careless when it comes to the rules of the road, you are much more likely to get into an accident. Although you may have insurance, this will not always prevent you from having to fork out an ungodly sum of money. By driving recklessly, you may also be faced with speeding fines, parking penalties, and time-consuming training courses as a result. Just make a habit of driving sensibly in the first place and you can avoid these costs altogether. Be observant on the road and considerate of other car drivers. Stick to the national speed limits and never take risks. Make sure you have the numbers of emergency services stored in your phone, written on a piece of paper, and kept in your car. You never know when you may need a towing service, a locksmith, or other services. Being prepared can save your life and that of others, so always have a plan for any kind of emergency you may experience on the road.
Bonus tip: Weigh up your options when swapping your car
When the time comes to swap your car, you could save a substantial amount of money by weighing up your options. If your vehicle is still in good condition, you can choose between selling the car or part-exchanging it. If the car is on its last legs, it’s a good idea to compare recommended selling prices with a quote for a scrap car price. You might find that you get more for a car that is very old or badly damaged if you sell the parts or scrap the vehicle once you’ve factored in selling fees. You could also save yourself the hassle of trying to find a buyer. If you do decide to sell a used car, take the time to research prices and values beforehand. It’s beneficial to go into negotiations with dealers or buyers with an accurate idea of the market value.
It’s also advantageous to explore different selling options. Selling online is quick and convenient, but you might not get the best offer. Selling privately or finding a dealership may take longer, but you may be able to get a higher price.
By following these ten tips to the letter, you are guaranteed to benefit from significant cost savings in the long run. It may take some time to change your habits, but when you do they will really pay off.
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