Many of us are finding it tough to make ends meet, as it seems everything from essentials to luxuries are constantly going up in price. And now that VAT in the UK has gone back up from 15% to 17.5% it makes even more sense to sit down and make some New Year resolutions about budgeting your money. Let’s think about what many consider to be an essential – the car. It doesn’t matter what you use your car for, you should look for ways to reduce what you spend on motoring, one of the biggest single drains on the family budget.
Is the car you own the right size for you? In general terms, though of course there are variations due to whether it’s petrol or diesel driven, a specialty car etc, the bigger the car the more it’ll cost to run. That means higher insurance, more on road tax, more on repairs and maintenance, and probably more on fuel. If you have a car that you aren’t using to it’s maximum capacity then you could be wasting a lot of money. Few things in life are guaranteed, but the cost of motoring is almost certainly guaranteed to go up year by year. Governments’ see the car as an easy target, so the cost of petrol will continue to rise. That brings more into their coffers, and it also goes down well with the ‘green’ lobby. If you travel to work how about ‘car sharing’ if possible? That cuts down on fuel used, and takes some of the burden out of driving on those days someone else is behind the wheel.
Next, if you are looking to purchase a car you can get off to a good start and Final Drive Motors end up paying less right from the outset. Consider buying a pre-registered model which could save you up to 30% on brand new. These cars are still new, but have been registered, usually by the garage, and might have up to only 50 miles on them. All the benefits of new but without the price tag. Vehicle manufacturers are falling over themselves right now to shift unsold motors, so be prepared to look around to get the right deal.
Every car owner has to have motor insurance. Go online and compare prices. You’ll be surprised by the savings you can often get by shopping around. One insurance company might give a really low price for one person, but not necessarily for someone else. In other words insurance is tailored to each individual, so don’t pay over the odds by just accepting a quote from your present insurer. Some companies don’t use comparison sites so check with them separately, and by going direct you might find a good deal. Don’t cut down on essentials though. Proper maintenance such as regular servicing can keep running costs lower with an efficient engine, as well as making sure your car is safe to be on the road. Running on illegal tires is not only dangerous, it can end up costing a lot of money if you involved in an accident, and it can get your driving license suspended.