How to keep motoring costs down
Looking for ways to spend less on your car? With the cost of maintenance, road tax, fuel, repairs and more, it’s no secret that motoring can quickly get pricey.
In the UK, the average driver spends more than £3,000 per year running their car. The biggest commitments are insurance and fuel, but there are plenty of other costs to bear in mind. And with prices rising across the board, it’s likely that you’re now spending more than you ever budgeted for.
No matter whether you drive a sporty coupé or a sensible family hatchback, it’s worth making motoring as affordable as possible.
Smart driving habits for fuel efficiency
Firstly, the way you drive plays a huge part in your car’s overall efficiency. Here are just a few useful habits to know about:
- By accelerating smoothly, maintaining consistent speeds and choosing an appropriate gear, you’ll be able to harness optimum efficiency for longer.
- Fitting quality tyres on your car and only inflating them to the manufacturer’s recommended pressure will help to improve your car’s fuel economy.
- Extra weight inside your car may also increase your fuel consumption. If you usually carry around spare bags and sports equipment – or perhaps have a roof rack installed that you don’t use very often – then removing these could help you to save money on fuel.
Regular maintenance, tyres and preventative upkeep
Looking after your car will keep it working efficiently.
With regular servicing, smaller issues can be identified and fixed before they turn into larger and potentially damaging issues. Modest maintenance – including replacing slightly worn parts for newer ones – will help to keep your overall repair costs lower.
Be strategic about insurance
Insurance is one of the most expensive parts of owning a car. The costs can be a huge commitment for young and inexperienced drivers, who are typically deemed higher risk. Furthermore, powerful vehicles like sports cars usually cost more to get covered too.
But there are still ways to save on your annual cover. Reducing your mileage, choosing a car in a lower insurance group and using telematics insurance policies could help to lower your premium.
Sharing a car can be the most affordable option for some drivers, especially those who live with close friends or family members.
Tax and emissions fees
Depending on the type of engine under the bonnet, you may be charged simply to drive your car in certain areas. If your car is inefficient, you might pay a higher annual Vehicle Excise Duty.
If you live near central London, you’ll probably already be aware of the Ultra Low Emission Zone. Vehicles crossing through this area need to meet certain emissions standards – or pay a daily fee.
But it’s not just the capital city aiming for less pollution, so don’t be surprised if you find Clean Air Zones in other parts of the country.
Don’t forget depreciation
Finally, there’s unfortunately no avoiding depreciation, especially with newer cars. This means that your car will lose value simply because it’s getting older, and it’s unlikely that you’ll get the price you paid back.
This can be one of the biggest hidden costs, but you can minimise the impact of depreciation. Do your research to find a car with better residual value, and try to avoid factory-fresh or nearly new cars – as these depreciate the fastest.
With these simple steps, you’ll be on your way to saving money and helping the environment too.
