Saving Money On The Costs Of Running A Car

Saving Money On The Costs Of Running A Car

We all know that running a​ car is​ expensive but how often do we​ workout exactly what we​ are spending? There are ways to​ reduce costs on​ your current vehicle and factors to​ consider when buying a​ new car.

Firstly how much is​ your finance deal costing each month? Car dealers will of​ course try to​ sell you their finance package but this may not be the​ best deal for you. it​ is​ well worth taking the​ time to​ do some research to​ check out other options available. Internet comparison sites and loan calculators are useful tools to​ assist in​ this process and looking for cheap loans before looking for the​ car will normally work in​ your favour financially. the​ main advice here is​ to​ do all of​ this research well in​ advance. Car salespeople are well trained in​ their art and will almost certainly put the​ pressure on​ to​ accept their finance arrangements once you are in​ the​ dealership. the​ reason for this is​ the​ profits they can make by selling a​ finance deal as​ well as​ a​ vehicle. in​ fact often the​ finance package makes them more moeny that the​ car itself.

Insurance premiums have risen significantly in​ recent years. This is​ because of​ the​ increase in​ personal injury claims and the​ number of​ uninsured drivers. the​ insurance quote will vary according to​ the​ type of​ car,​ your postcode and the​ age of​ the​ driver. the​ key to​ saving money is​ once again to​ shop around. Just because one provider was the​ best value last year does not mean that is​ still the​ case when it​ comes to​ renewing your policy. Millions of​ people still regularly renew with their existing provider without shopping around and waste money needlessly.

If you intend to​ keep your car for an​ extended period then depreciation will not be a​ major issue. However,​ if​ you change your car regularly but are trying to​ keep costs down,​ then consider paying a​ little extra for a​ car with a​ higher resale value. Family cars tend to​ lose their value most quickly and may only be worth 1/3 of​ their purchase price after 3 years. However,​ more prestigious brands can still be worth 70% of​ the​ new price after 3 years. Also consider buying nearly new rather than new. That way you will not be fundung the​ high initial depreciation that vehicles suffer from.

Rising fuel prices obviously have a​ major impact on​ running costs. Why not choose a​ smaller more fuel efficient car or​ perhaps try a​ diesel model? Whenever possible fill your tank at​ supermarkets which usually offer lower fuel prices.

Servicing costs will vary according to​ the​ age of​ the​ car. if​ your vehicle is​ less than 3 years old you are likely to​ pay more. if​ at​ all possible avoid using a​ main dealer for servicing and repairs. Independent garages usually charge considerably less for labour.

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