Are you spending too much money on your car? Here are some of the main running costs that every car owner has to face and the main ways you can spend less.
Auto insurance can be one of the biggest costs of owning a car. There are so many factors that can affect your insurance from the type of car to your credit score. However, there are a few insurance-lowering tricks that can apply to all cars and drivers.
One major way to lower your rates is to raise your deductible. This is the amount you’re willing to pay out of your own pocket before making a claim so you should be careful of setting the deductible too high.
Group schemes can also make a difference. This could include putting multiple drivers on the same insurance scheme or combining your home insurance and car insurance.
Make sure to also shop around. Comparison sites can be useful, but it’s worth trying insurers that aren’t on these sites as some of them can be cheaper. By ringing up and negotiating with someone on the phone, you may be able to get a discount.
Repair costs can also add up. The best way to save money on repairs is to avoid them through good maintenance of your vehicle. This includes topping up fluids and keeping tyres well inflated to avoid wear of parts. Driving smoothly can also stop parts from wearing as fast (plus it could prevent accidents!).
When it comes to going to the mechanics always shop around and don’t be afraid to negotiate. If you need new parts, you may be able to source these yourself to cut costs. There’s also the option of doing your own DIY repairs if you feel you’re savvy enough under a bonnet.
You can cover yourself for repairs with breakdown and repair cover such as CARS Protection Plus. Some people may see this as just another monthly payment, but it could save you money is you’ve got an old used vehicle that’s more prone to faults.
When it comes to saving money on fuel, there are many good driving habits that you can take up to help you consume less fuel such as driving more smoothly, keeping your tyres well inflated and not driving around with unnecessary weight in the vehicle (i.e. take any heavy items out the trunk that you don’t need).
There are apps such as Gas Buddy that can also help you shop for fuel by comparing fuel costs at pumps in your area. This can be particularly useful when driving somewhere new.
Parking & Tolls
Parking fees and road toll charges are costs that can add up too.
Fortunately there are apps that can also help in this situation too – in the case of parking there are apps like AppyParking that compare parking prices in your area so that you can find the cheapest place to park.
As for tolls, many modern GPSs have features that can allow you to take routes that avoid toll roads. Such routes may not be as direct as you won’t be taking main highways, but they could save you money if you’re low on funds.