Finance, Money Saving

How To Save Money On Your Vehicle

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Buying and maintaining a vehicle is one of the largest expenses you will have; even if you have a fairly cheap vehicle, there are still several other expenses that soon rack up the cost of owning a car. When buying a vehicle, you also have the costs of insurance, road tax, gas and general maintenance which usually doesn’t come cheap. If you begin taking measures to cut costs now, it will help you save money in the long run and allow you to invest your money in ways to make your vehicle more appealing and add luxury items such as a private number plate.

 

Save Money Buying A Car

Unfortunately, when you go to buy a new car, the salesperson often doesn’t have your best interest at the forefront of their mind and will try to get as much money out of you as possible. Therefore, you need to be extremely wary and be prepared to do your research before buying the car. There are some things you can do to cut costs when buying a new vehicle:

  • When buying a new car, many people opt to trade it in after a few years, but you could save hundreds each year if you hold onto the vehicle a while longer. The cost of new cars rises each year, but the value depreciates quickly after that, so it’s wise to buy a good quality car and keep it for five to eight years.
  • It is a good idea to consider buying a smaller vehicle as they are cheaper to buy, cheaper to run and lighter, which means you’ll get better mileage on your petrol or diesel. Likewise, insurance is normally cheaper which could save you a few hundred pounds each year.

 

Save Money Maintaining Your Car

Buying the car might cost you a large chunk of money, but then you will have several other monthly outgoings or one-off payments in order to run and maintain the vehicle. There are several vehicles checks you can do on a regular basis to ensure you don’t get hit with a big bill next time you visit a mechanic.

  • Make sure you change the oil filter every 3,000 miles no matter what the owner’s manual recommends. When you frequently change your oil, it will help to extend the life of the engine and save money on repairs and engine wear in the long run.
  • Check the air filter monthly as a dirty filter shortens the life of the engine. It is a simple task and you can clean the filer by removing it and blasting it with an air hose, or have it replaced.
  • Regularly check your tyre pressure as you can lose up to 6% in petrol/diesel mileage for every pound of under-inflation.

 

Save Money On Petrol And Diesel  

Although you may not be able to change the price of petrol and diesel, these costs may contribute to the decision you make regarding what vehicle you buy. Some vehicles are much cheaper to run than others, which should be taken into consideration when making your purchase.

  • Buying a smaller vehicle with a smaller engine means that it won’t burn through petrol/diesel as quickly. As a smaller car is usually lighter this makes it cheaper to run.
  • Drive at a steady pace, over acceleration can cause you to burn fuel much quicker.
  • Don’t let your fuel tank run to empty. Allowing your fuel to run too low can lead to debris clogging up your injectors, which means more costs paying to have them cleaned. Your car also won’t run as efficiently.

With these tips, you can begin saving money on your car straight away. With the extra money, you’ve saved you can treat your vehicle to a life of luxury with a private number plate.

 

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