Having a license and access to your own car gives you so much freedom and independence, but it can be really expensive. Along with the cost of the car itself, there are lots of monthly, annual and random costs that you need to consider to keep your vehicle safe and legal on the roads. Here are some of the ways you can keep these costs down.
The road tax that you pay is calculated based on the amount of emissions your car produces. This means that older, bigger and gas guzzling cars will cost you more, and smaller cars or those with newer and cleaner engines will cost you less. There are lots of with low emissions that get you very low or even free road tax. Before purchasing a car, be sure to check how much road tax you’ll be paying each month, as it’s easy to overlook this but can really bump up what you’re paying.
High finance costs
Not everyone is going to be in a position to go out and purchase a car with cash, many of us need to rely on some kind of car finance to spread the cost. However, don’t just take the first deal you come across. Be sure to shop around and compare interest rates. It can be worth spending a few months saving up so you have a significant deposit to put down, since this will reduce the amount of finance you need to take and over a shorter time frame (meaning less interest needs to be paid). If you already have a car, get it into the best condition possible so you can sell it for the best price and use this towards the new car. Don’t be tempted to part exchange because it’s easier as you’ll never get quite as much for it.
Excessive fuel costs
Fuel is expensive, and it’s a cost you’re always going to have to cover as a driver. However you can keep these expenses down by following a few simple tips. Don’t overload your car (so remove things like roof racks when they’re not in use). Don’t over rev the car, and avoid driving with the windows down unless you need to as this will increase wind resistance and use more fuel.
Parking and speeding tickets
It goes without saying that a parking and speeding ticket cost can always be avoided with a bit of care. Drive according to the rules and you won’t be caught out with these things, which is good because they can cost a lot, and especially in the case of speeding can end up in serious trouble. Sometimes mistakes can happen, and if you’ve made a genuine mistake then it could be worth appealing your ticket, you definitely won’t always be successful though.
Getting recovered after breaking down is expensive, but breakdown cover isn’t. For this reason, taking out a breakdown policy and paying a small amount each month can save you a heap of cash if you do happen to need assistance.
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