MoneyMagpie

May 10

Slash the running costs of your car!

Travel is usually one of the more significant expenses in our budgets each month, and most of us see it as pretty essential to our day to day lives. However, what if there was a way to run a car and get to all the places we want without it costing a small fortune? Well, you will be pleased to know that there is, and all you need to do is to read on to find how.

 

Shop around for petrol

The number one cost for most people apart from the purchase price of the car is the petrol that it takes to run it. However petrol, like any other commercial asset, is something that varies in price from station to station. What this means is that you can save a significant amount on fuel costs if you know where to look.

Fuel

It is always worth looking for petrol at a good price.

One way to do this is to use a website or app which tracks the cost per litre price and can help you find the cheapest one in your area. Another way to reduce the cost of petrol is to buy it from station or supermarkets that include it in their rewards scheme. Then you can use the points you earn to offset the cost.

 

Get the cheapest insurance cover

The other significant cost that is associated with running a car is the price of insurance. In fact, for some unlucky drivers that have points on their license, have a powerful car, or are young, it can be more expensive per year that the car itself!

Luckily, there are some ways to get your insurance premiums down to a more reasonable price! The easiest of these by far is to use a site like GoCompare that takes information from many insurance providers and gives you side by side quotes. This can be helpful because you get to see what cover you get at that price and whether the saving is worth it.

Another way to reduce your insurance premium is to take an advanced driving course. These are courses that teach you the basic of defensive and economical driving, and those that complete them are recognised in many instances by providers as a safer prospect. Something that means provider are often happier to lower the premiums they charge.

 

Look for hire purchase deals

Lastly, remember that you can save a fortune on the running cost of your car if you go for a hire purchase option too. The main benefit here is that you will pay a fixed amount each month, making it easy to budget for.

 

 

You will also get a new car to use, and as it will be under warranty, it means you don’t have to worry about unexpected costs if something goes wrong.

Many car manufacturers also run special deals where they reduce their original prices and even offer cash back or fuel cards as deal sweeteners. Which are additional ways that you can slash the running costs of your car, and leave more money in your pocket for other things.

 

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