If you own a car you will be aware of how much it costs to run one. Even if you do not own your own car but drive, you will still be aware of some of the costs of driving. There are ways that you can keep the costs of driving down and it is worth considering them to see whether you can save some money or at the very least limit your need for a loan in order to service your car.
The first thing to consider is insurance. It is much cheaper to pay insurance in a yearly lump sum than to pay it monthly. Obviously it may not be easy to find a lump sum of money when your insurance renewal is due, but it could be worth planning for it. You will have some idea of how much it is likely to be and so you could save up money towards it so that when it is due you can pay it in one block and not have to pay extra. You could put the money that you have saved towards the next lump sum payment.
It is worth comparing costs of insurance every year. Even if you have signed up to the cheapest company, you may find that once a year has passed there will be another company that is cheaper. Obviously you should only go with the cheapest if it provides the right insurance cover for you. Often the very cheapest companies will then charge for additional things such as legal cover, courtesy car when yours is being repaired or things like this so make sure that you check it carefully and only get the insurance policy if it really is cheaper and suits you.
Having a higher excess could help you to have a lower premium as well. This is the amount of money that you pay out before a claim is paid. It is worth having a high excess if you can afford to because if you make claims your premium will go up or the cost of protecting your no claims will go up and so you could end up paying out a lot more compared with the cost of a small claim.
Fuel can also be very expensive and so it is wise to compare prices and try to fill up at the cheapest place. However, if you have to travel a significant distance to fill up, then it could be better to pay a bit more as you will not be using fuel to get there. You might be able to work out the cost of a journey so you can calculate whether it is worth travelling to get a lower price. Try not to use unnecessary fuel at any time. So if you can walk then do so. It can be quicker and more convenient to use a car, but walking is much cheaper.
If you own a car then you will be paying out for MOT’s, tyres, services, repairs and valets. However, you can save money on these as well. You could valet your own car and this will save you a lot of money. You could also service it yourself. There are plenty of videos online where you can learn how to do this and you will be able to have a go. Do not be tempted to just not bother with a service though as there are some things which should be checked regularly. You might be able to do repairs yourself if you buy cheap parts online or you could find a garage that will be happy to source second hand parts and do repairs cheaply. If you make sure the car is ready to pass an MOT you will not have to pay for a test and then a retest after repairs have taken place.
Find a car that is cheap to run
It is worth trying to find a car that is cheap to run and reliable, Small cars tend to be more fuel efficient but if you can also find one that is reliable then it will last you a long time and will hopefully not need repairing so often. Small cars are usually cheaper to insure and tax as well, which means that you will save money there too. There is lots to think about but hopefully some information that you can use in order to spend less on your car.