Owning a car is a wonderful luxury – you can go wherever you want to, whenever you want to. It can be a great way to see more of the city or country you live in. Owning a car can also make your life easier, from getting the kids to school in one easy sweep, to helping you transport things such as groceries to your home which is much easier than lugging them back on public transport. I love having a car because it protects me from the elements such as rain and cold weather, ensuring that I arrive at my destination warm and cozy. Owning a car can be quite expensive and so here are some tips for reducing the cost of having a car:
1. Fuel Card
Fuel can be a huge expense and will depend on how often you use your car, what type of car and fuel you are using and so many other personal factors. Unless you opt for an electric car, you’re going to need fuel so being smart about how to reduce your fuel costs will make a big difference. There are a variety of fuel cards available which allow you to save money on fuel costs. Check out iCompario for an easy comparison of the best fuel cards.
2. Ensure It’s Well Serviced
Getting regular services for your car can be expensive, from oil changes to checking that everything is working well. It can be tempting to skip some of these services or to avoid doing them as often as recommended but this will usually be an expensive mistake. Ensuring the car is running as well as possible will help with fuel efficiency and also ensure there are no big problems to fix.
One of the best ways to reduce car related expenses is to simply use your car less. If you live far from work, or are spending a lot in gas doing the school runs each day, why not find someone to team up with to carpool? That way you’ll be splitting the cost of gas between you, while also reducing your overall environmental impact. Your car will also be doing less miles, which will be great for keeping it in the best condition possible.
4. Be Smart About Financing
One of the ways people spend the most on their car is through financing. When you look at the monthly repayments for financing a car, they can seem really small and affordable, but over the course of the loan you end up paying significantly more. Generally the longer the loan, the more you’ll pay. I suggest paying your loan off as aggressively as possible to minimise your total spend on your car.
Owning a car is really a great asset to your life, and hopefully with these tips you’ll be able to make owning a car more affordable for you and your family.