3 Tips to Save Money on Your Car
Monthly car bills are an unfortunate yet necessary expense for many of us. But with inflation hitting record-highs in 2022 and costs rising everywhere, it has now become more urgent than ever that we find creative ways to save money. Fortunately, for your car, at least, there are plenty of ways you can cut down on what you are spending on it month-to-month. Here are 3 simple ways to make running your car more cost-effective.
Reduce Insurance Premiums
Insurance, along with fuel is one of the largest reasons running your car can be so expensive. However, the cost of monthly premiums can vary drastically, so this is often a great place to start when trying to save money on your car. First, by checking price comparison websites, you can quickly see whether your insurer is giving you a good deal. Many price comparison websites also have reviews from present and former customers. For example, by checking Travelers auto insurance reviews, you can see whether the service is comprehensive enough for your needs.
Elsewhere, choosing to pay for your premiums annually as opposed to monthly can entitle you to significant discounts, if you can afford this. Similarly, removing any unnecessary coverage from your insurance can help you get the cheapest premiums possible, though you should be careful with this, as it may end up costing you more money in the long term.
Fuel is one of the things that is rising in costs the most during this current wave of inflation. To realistically reduce your car expenses, you should therefore try to find ways to improve your car’s fuel efficiency. While the best way to save money here is to use a car that has a high MPG, you can improve the efficiency of any car by driving in specific ways. For instance, maintaining a steady speed in your vehicle and changing speed gradually can drastically decrease your fuel consumption while driving. This driving style is also safer and reducing the number of accidents can increase your no claims bonus and provide you with additional savings.
Similarly, staying in the highest gear possible reduces the amount of power being used. In addition, while driving around the city, maintaining a speed of around 20km an hour will improve your fuel efficiency, since this is the speed when cars use the optimal amount of fuel.
Service Your Car Frequently
While it may seem counterintuitive, keeping your car in top condition can save you a bundle in the long term. As any mechanic will tell you, ensuring your car is regularly serviced can reduce your bills, since waiting until the issue is urgent will cost a lot more than a routine servicing. In addition, by ensuring that both the external and internal components of your car are well-cared for, you can reduce the effect of depreciation, which represents one of the largest costs of your vehicle, month-to-month. Finally, avoiding regular maintenance can lead to things like low-pressure tires and unresponsive brakes, which can reduce the fuel efficiency of your car