How to Save Money on Car Expenses
Buying a car, new or used, is only the beginning. Yes, you can do a lot to save on the total cost of owning the car. Taking steps to find the most affordable car loan to use and negotiating a better deal with the dealership can help lower the cost of buying the car by a substantial margin.
However, you also have other car expenses to think about, especially once you start using the car on a regular basis. Getting car insurance, the cost of petrol, and other expenses associated with using the car add up to a substantial amount every month if you are not careful.
Worry not, because there are many things you can do to save on car expenses as well. To help you get started, we are going to review some of the best tips you can use in this article.
There is a big misconception about car service on the market. Many believe that regular service is not a necessity and that you can save more by skipping a few of those service dates. This is certainly not the way to go if you want to keep the cost of running the car at minimum.
For starters, some car manufacturers require you to keep up with your regular service to maintain the warranty of the car. This means skipping one or two service dates actually voids that warranty, resulting in more expenses when something does go wrong.
On top of that, regular service is a great way to avoid bigger problems in the first place. Rather than waiting for something to go wrong – and dealing with a large repair bill – it is much better to keep the car well-maintained. That brings us to our second tip, which is….
…and Regular Tune-Ups
Aside from essential maintenance tasks such as changing the engine oil and spark plugs, regular service of a car also includes general maintenance such as tuning up the engine. This is a way to save money on its own and there is a good reason for that.
A badly tuned engine consumes up to 35% more petrol than an efficient one. Over time, you are actually wasting a lot of money on petrol when the engine is not maintained properly. With the price of petrol going up at its present rate, this is a moneysaving tip you don’t want to miss.
Check Your Tyres
There are a lot of consumables in a car, and the tyre is one of them. Tyres wear out over time and you will have to replace them eventually. Before it is time to replace your tyres, however, there are a few things you can do to save.
First, make sure you go for the steel-belted radial tyres for extra durability. These tyres last up to 20% longer than regular tyres, which means you also save more in the long run. Considering that steel-belted radial tyres are equally affordable, there is no reason not to get them.
You should also rotate your tyres regularly. Tyres wear out at different rates depending on how the car is used, which is why rotating your tyres is a good idea. You can get the tyres to wear out more evenly and go longer with a set without any added danger.
One last thing to do is making sure that the tyre pressure is set just right. You get to reach that optimum mile-per-gallon ratio when the tyres are pumped to the right pressure. At the same time, you also avoid wearing one side of the tyres excessively.
Get Your Insurance Set
Saving on car insurance is the next thing you can do. Once again, the goal is to save in the long run, and the way to get started is by increasing your out-of-pocket expenses by a small margin. Raising your deductible by £100 could result in a 10% to 20% drop in insurance premium.
Maintain a clean driving history to save more. It is not uncommon for insurance premium to drop further when you only have little to no claim in your record. As the premium gets lowered every year, you can expect the money you save on it to grow as well.
It is also a good idea to compare insurance deals before deciding to buy the policy that suits you. Similar to finding a car or personal loan to use, mention that you are comparing insurance deals to get additional discounts and deals thrown in.
Last but certainly not least, check if the insurance company you use offer car insurance too. Buying multiple insurance policies from the same company will result in more savings on all of the insurance coverage you buy.
All of these tips are easy to implement, and they allow you to save money on car expenses easily. if you still want to save more on your car-related expenses, stay tuned for more tips right here on this site.