The cost of motoring has never been higher. Recent world events have pushed the per-barrel price of oil up to well beyond the hundred-dollar mark. This is something that will be felt not just at the petrol pump, but in just about every cost that’s related to running your car.
Fortunately, there are a few things we might do to help drive down these costs. So, what are they?
Choose a cost-effective vehicle from the start
Some vehicles are much cheaper to run than others. Ongoing costs might stem from fuel efficiency, insurance, and maintenance costs. If your chosen car is inefficient and unreliable, then you can be sure that it will also be expensive.
Of course, there’s also the costs of depreciation to consider. This is where used cars tend to represent the best value . A vehicle that’s been on the road for a year or so will offer many of the same features and performance as a brand-new one, but at a far lower cost.
Improve fuel efficiency through driving habits
The way that you drive matters, too. If you’re constantly having to brake, then the energy generated by your engine will end up being dissipated as heat. This means wasted money. You can avoid this by thinking ahead, keeping your speed slow and steady, and ensuring that your tyres are inflated regularly, and replaced whenever the tread is shallow. This is particularly important during winter, when road surfaces are more slippery, and braking distances are longer.
Keep up with regular maintenance
Getting a car looked at can be expensive. But it’s worth viewing these costs as an investment. By spending a little on routine maintenance, you’ll avoid the more expensive repairs that can follow a breakdown. A service should ideally be performed twice a year. If you’re driving long distances, then you might think about doing this more frequently.
Of course, some of the most effective maintenance doesn’t require the involvement of a mechanic. You should know how to change your oil, top up your screen wash, and replace bulbs and wipers. Fortunately, the internet provides a wealth of information about how to do all of these things.
Compare insurance and running costs annually
You might be tempted to simply allow your insurance policy to automatically update every year. But this can be expensive. Shop around and find out what the cheapest like-for-like alternative is, then ask your insurer to match it.
You might also consider how your choice of vehicle is influencing your insurance costs. It might be that you can reduce the risk, and therefore the cost, by switching to a more reliable, slower vehicle. The second-hand market, again, provides plenty of options in this regard.
