ePrivacy and GPDR Cookie Consent by Cookie Consent 8 TIPS TO REDUCE YOUR CAR RUNNING COSTS

8 TIPS TO REDUCE YOUR CAR RUNNING COSTS

Along with everything else at the moment, motor costs are rocketing.

It’s estimated Britain’s 36 million car owners spend around £3,000 per year running their vehicle. Expensive petrol prices, insurance premiums and the annual service, added to the current cost of living crisis, is putting extra strain on many motorists according to nimblefins.co.uk.

Here are a few of our top tips to make sure your motor doesn’t drive you into the red.

  1. Look out for cheaper fuel - Supermarkets generally sell the cheapest petrol and have the same British standards as the bigger oil companies. Download a fuel price app to track where the cheapest petrol is locally and avoid pricey motorway service stations at all costs! Check out petrolprices.com .

  2. Watch how you drive - Driving fast, braking hard and not changing gear frequently enough can all have an impact on fuel consumption. Driving at 70mph uses 9% more fuel than driving at 60mph, and 15% more than driving at 50mph. So slow down to reduce how often you need to fill up.

  3. Check your tyres - Do regular tyre checks (at least monthly) to make sure your tyres are pumped up to the correct pressure (your car’s manual can help with this). A drop in tyre pressure of just 0.4 bar, or six PSI, can increase fuel consumption by as much as 20%.

  4. Turn off the air-con - Similar to tyre pressure, using your air-con can increase fuel consumption by as much as 25% according to the National Energy Foundation. It’s more efficient to open the car windows instead – unless you’re travelling at more than 60mph when the drag created is so high that it’s better to turn on the air-con!

  5. Remove the roof-rack - Even an empty roof-rack can add around 15% to your fuel bill, so it makes sense to take it off when not in use. Avoid heavy loads in the boot and cycle racks, too.

  6. Use your insurance extras - Car insurance costs an average of £500 a year, but many people don’t take advantage of all the extra benefits their insurance has to offer, such as free or cheap breakdown cover and windscreen repair.

  7. Install a black box - Some insurers offer cheaper premiums if you allow them to install a black box device to your car which uses technology to track and record driving behaviour. The goal is to base insurance premiums on how much you drive and how safe (or risky) you are behind the wheel (not speeding, not braking too hard), potentially saving you money on future premiums.

  8. Keep up with regular maintenance - Don’t skimp or avoid your annual car service as you could end up paying out more long term when parts break down. Car dealers often provide service plans which can work out cheaper and help you spread the cost; you can also negotiate on the price of a plan whether you are buying second-hand or new.

Posted in Budgeting on Oct 11, 2022.

Sam Foster

Written by Sam Foster - Senior Marketing Manager

Sam joined Everyday Loans in 2016 and has worked in various roles within the Marketing Team. He heads up Everyday Loans' direct-to-brand proposition and oversees all offline and online acquisition channels.

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