Owning a car costs money. Fact. There is no getting away from it. But there some things that you can do to cut the cost of being the owner of a car. For many people, through work or family commitments, they need to have a vehicle. But it just helps when you can cut the costs. So here are some tips and tricks to help you choose your next car on the cheap, or to start running your current care more cost-effectively.
Pay Insurance in Full
One of the things that can hike up the price of being a car owner is that you have several different add-ons like insurance or tax. And one of the those, car insurance, can be quite pricey depending on your age, how long you’ve been driving, and what kind of car you drive. One way to cut the cost is to pay your car insurance in full instead of paying it monthly. Much like a credit card or loan, there are interest rates on the premium when you pay monthly. So paying in full can be a good way to save, although it can be a large sum upfront. If you’re struggling to pay upfront but still want the saving, then looking for the best 0 interest credit cards could be a good idea, as long as you have a plan to pay it off as soon as you can. At least with zero interest you don’t have to worry about paying any extra costs.
Inflate Your Tires
Did you know that when you don’t drive your car with tires that are fully inflated, then it can improve your gas mileage by up to 3% in some cases? So it makes sense to keep them topped up, and not draining away money. For every psi your tire drops, the gas mileage lowers by around 0.2%. It doesn’t sound like much, but it can impact your costs if you drive a lot. Plus, tires that are inflated to the right amount can mean you’re less likely to have an accident, so another reason that will save you money, right there.
Choose an Electric Car
If you live in a part of the world that means you pay road tax on your car because of the emissions that it has, then if you have an old car, or quite a gas-guzzler, then it can mean that your tax is going to be pretty high. More modern cars, including electric vehicles, are going to get rid of that tax completely. If there are no fuel emissions, then you can’t be charged for them.
Know What Your Car Needs
The cost of owning a car can be high because you don’t pay much attention to it and don’t check it regularly. Then when something goes wrong, it can cost a lot to have it repaired. But if you are keeping up to date with what your car needs, and fixing things as and when they come up, you’ll be saving a cheap.