Having a car is a great convenience; however it often comes for a price. Cars can be expensive to run, maintain and even buy, so it can often be a hard expense to justify if you’re living on a budget. However, there are a few areas where you can save money so you don’t have to be scraping the pennies together if you need your vehicle to get around.
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Shop around for insurance
Simply renewing your insurance quote every year can be an easy option, but it often means that you’re missing out on the best deals. Use price comparison websites to see what deals are available and whether you can save money by switching to a new insurance provider.
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Share your car
If you make a regular commute to work and you have colleagues that live in your area, offering to carpool with them will save you money on fuel if you arrange for them to contribute to your running costs, or take it in turns to ride in each other’s cars.
Lease, don’t buy
Leasing a car instead of buying can save you money as you have lower monthly repayments compared to taking out finance on a car. This is especially a good option if you’re likely to change your car every few years. LeaseYourNextCar has a guide on comparing buying to leasing, outlining the benefits that come with leasing.
Reduce your speed
If you enjoy putting your foot down and speeding along the motorway, you may want to consider slowing it down a bit. Not only does it save your fuel, you’re less likely to get a speeding ticket, meaning you won’t have any unexpected surprises coming to you!
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Invest in an eco-friendly car
Buying a car with low-emissions means that you will pay little or no road tax. There are a surprising range of vehicles that have low emissions – not just small or electronic cars. Shop around and get a good idea of the spec of your new car so you know exactly how much money you’ll have to spend on road tax and fuelling your car.
Get to know your car
Understand your car a bit more and work out when you can fix things yourself instead of relying on expensive mechanics. You can often carry out simple things like oil changes yourself. Ensuring that the car’s tires are always pumped up and having a good look over your car every so often can affect the performance of your car too, increasing its life and saving you money on its running costs.