Easy ways to save money running a car
Buying or financing a car is a really exciting time and it can be great for your bank balance. Taking out car finance means that you can spread the cost of a newer car than you first thought you could get and paying for it in affordable monthly payments. This means owning a car can be more affordable and easier to set out your monthly budget. However, have you thought about how cheap or expensive it would be to own and run your next car? There are a few things you should consider before you commit to buying the car and also a few things you can do in the long run to reduce your running costs.
Before you buy
Check out the cheapest cars to insure
When you buy a new car, you will also need to take our car insurance. Car insurance in the UK is a compulsory and legal requirement so for something you have to pay for, you want to get the best deal possible. Car finance can be expensive if you are a young and first-time driver. This is because you are more likely to have a crash and have to claim on your insurance within the first year of driving. There are many cars which are the cheapest to insure, usually cars which have smaller engine sizes such as 1.0 or 1.2 litre engines and cars which are small in general such as a hatchback.
Use a car finance broker
Before you sort your finance, you could consider using a car finance broker to help save you money on your finance deal. Many people think you can only get the best deals at a dealership but using car finance broker could be beneficial to you. Brokers are also good if you are applying for car finance with bad credit. You would just need to apply once with a car finance broker such as Refused Car Finance who then send your application to a number of trusted lenders in the UK and help get the best deal for you. You can then get any car within your finance budget from any FCA approved dealership across the UK! Car finance brokers can even be beneficial if you are applying for car finance with bad credit too!
The petrol vs diesel debate
One of the first decision you will make before getting a new car is petrol or diesel. A diesel car can sometimes be more expensive to buy but if you travel a good few mile regularly, you could save money in the long run. You will only really benefit from cheaper fuel cost if you are a regularly motorway user and perform high annual mileage. If you want a cheap car as a runabout vehicle then you may be more suited to a petrol fuelled car. You could also consider a hybrid or electric car too.
After you buy
Ditch the extra weight
One of the simplest ways that people burn more fuel than they need to by carrying unnecessary weight in their car. Many of us are victim to carrying more stuff than we need and a simple tidy out of your car can make your fuel go further.
Check your tyre pressure
Tyres which are under-inflated by 15psi can use up to 6% more fuel! A simple check of your tyre pressure and with inflating them or deflating them to the correct number can help you to drive more economically.
Drive slowly and consistently
You should always stick within the speed limits when driving but driving faster than you need to and also should do can waste money. It is more economical to maintain a consistent speed rather than speeding up and then decelerating.
Guest Blog UK Car Finance Ltd
