Published on January 26th, 2023
The cost of everything seems to be going up lately and it can be disheartening when you’re a driver. Many drivers rely on their car every single day, from getting to work, taking the kids to school, to doing the food shopping, cars can be a lifeline for many people.
When your car is a necessity, you don’t want to be paying any more than you need to and keep costs as low as possible. The guide below has been designed to look at the top 5 money saving tips that we think all drivers should know!
1. Drive Smarter
You may be surprised to find out that the way you drive could be costing you more money than it needs to. There are a number of ways in which you can reduce the amount of fuel you’re using to limit the number of trips you need to fill up your car.
By staying within the speed limit, braking gently, accelerating smoothly, using the highest gear possible and anticipating the road ahead, you can help to prolong the MPG or electric range of your car.
2. Find The Cheapest Fuel
If you have a petrol or diesel car, your car won’t get anywhere if the fuel tank is empty, and you may feel like you’re filling up constantly. It’s important that you get the cheapest fuel possible, especially when fuel prices are higher.
Usually, supermarkets tend to offer the cheapest petrol and diesel prices, but it can be worth using a fuel comparison app or website to find the cheapest fuel in your area.
If you have an EV or hybrid car, and you can’t recharge at home or are on the go, it can be worth finding the cheapest recharging point near you to help reduce costs.
3. Increase Your Credit Score
More drivers than ever are choosing to finance or lease their next car and it can actually be pretty cost effective.
Whilst buying with cash means you don’t have to pay any interest and have more negotiation power; most drivers don’t have this kind of money to fork out for a car.
If you have a low credit score but need car finance, there can be options available to you, but it can make borrowing more expensive.
You could consider increasing your credit score in the run up to your car finance application to help increase your chances of approval and also get you a lower interest rate.
4. Take Care Of Your Car
Don’t wait until you notice something wrong with your car to get it looked at. This can usually make it more expensive than it needs to be and leaving a problem can cause it to get worse.
By keeping up to date with regular servicing, maintenance, and MOTs, you can help reduce the risk of something going wrong with your car.
Simple maintenance checks you can do at home which can help save fuel and make your car more efficient can include things like keeping your tyres topped up, changing your oil, keep your coolant level topped up and checking your lights/bulbs are all working.
5. Research The Best Fuel Type For You
If you can afford a new car, you may be wondering what the best fuel type to choose is. In 2023, there’s now more choice than ever, with hybrid and electric cars becoming more popular and petrol and diesel cars being phased out by 2030, it can be worth comparing fuel types.
Usually, diesel cars can offer the best mileage when it comes to refuelling your car however, they have a much more harmful impact on the environment and to help tackle the rate of climate change, there will be no new diesel cars sold in the UK in a few years’ time.
Electric cars can be more expensive to purchase but benefit from lower running costs when recharged at home rather than having to be refuelled. If you can’t decide which is right for you it can be a good idea to compare different makes and models in your budget to see which type of car could fit in best with your lifestyle.
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