How to reduce your motoring costs
24 July 2018
Every car owner knows just how expensive running a motor can be. From petrol and parking to car insurance and road tax, it all adds up over the course of the year. Since giving up your wheels probably isn’t an option - after all, we all need to get around - here are some of the best ways to reduce your motoring costs.
8 ways to reduce the cost of car ownership
Even though most drivers know that driving efficiently can slash fuel costs, many of us forget as soon as we hit the road. The faster you drive, the more fuel you’ll use. Slowing down might cost you a little extra time, but it will save you money on petrol.
Reconsider your car insurance
Most drivers assume ‘third party’ insurance - i.e. where you’re covered against damage to other vehicles but not for theft or fire - will be the cheapest. While this sounds logical, it’s not always the case. Sometimes fully comprehensive cover can work out cheaper, so it’s always worth getting a quote for both when renewing your car insurance.
Keep your tyres pumped
An underinflated tyre reduces a car’s fuel efficiency as well as increasing emissions and putting passengers’ safety at a greater risk. A quick pump can improve the general running of your car as well as keeping costs down.
Change the oil regularly
Depending on your vehicle manufacturer's directions and for maximum efficiency, your car’s oil should be checked and changed every year or 10,000 miles, depending on which comes first.
Watch out for unnecessary fines
Parking is sometimes an unavoidable cost, but a parking ticket is very avoidable. Be careful when parking somewhere new and, if you do get caught out, make sure you know your rights regarding parking fines to save yourself the painfully unnecessary expense.
Similarly, making sure your tax is paid and your driving license photocard is still valid (they expire every ten years) could each save you £1,000 in fines if you get caught.
Find a rideshare
You can’t reduce the price of petrol, but you can increase the number of passengers. If you use your car to get to the office every day, pairing up with a colleague who lives nearby to split the petrol costs - or the driving itself - could save you loads on your weekly commuting costs and add fewer miles to your car.
Save on MOT costs
You can’t avoid having your car checked every year, but a few smart moves could save you a lot on your next MOT test. A quick look over your vehicle can help you spot any fixable fails, such as faulty lights or underinflated tyres, that you can deal with before the test.