Owning and looking after a car can be costly. Although you might not have the newest or fanciest car on the market, the care, maintenance, and monthly costs can still hurt your bank account.
With most people looking for ways to save money and not break their bank accounts, it is useful to seek money-saving tips that actually work.
Hence, from reasons and ways to look after your car to find the best deals, here are the best ways to save money on your car expenses.
Find the right car loan
Should you want to use a loan to purchase a car, then it is a good idea to take your time looking for the right company to help you. Choosing a company with high-interest rates or expensive fees could result in you paying more than you need to. Likewise, choosing the right company will ensure that you only spend what you need to, what you can afford, and not break the bank taking out a loan to purchase your new car.
You could consider a Santander auto loan to help with attaining an affordable and simple car loan. Using this service, you will be able to streamline the process of attaining a car loan and cut the steps in between.
Stay on top of its oil
Although your car’s manual might tell you to check the oil levels and oil filter in your car every 10,000 miles, it is better to check them more often. The more often you check, the fewer issues you will experience.
It is easy and more affordable to check and change the filters/top up the oil yourself. Hence, always complete the task without asking for expert help. Otherwise, you will be spending money that you can easily save.
Change the air filters monthly
Speaking of filters, the air filters are also something to stay on top of. Maintaining the air filters will ensure that your car doesn’t overheat while it’s running. Overheating a car can cause all kinds of issues, which could cause you a lot of stress and more financial damage in the future.
Changing the air filters monthly (or as close to that as possible) will help to maintain the health of your car.
Check the tire pressure
To keep your car expenses low, it can be as simple as checking the tire pressure. Low pressure in the tires can make them vulnerable to damage, which causes issues and more financial expenses.
Likewise, low tire pressure can also reduce the fuel efficiency of your car. Hence, checking the pressure and topping it up when necessary (which is free in most places) will ensure to keep your car healthy and avoid issues that could cost a lot of money.
Pay in full for your tax and insurance
Although some people might consider paying monthly for car tax and insurance less expensive, or the same, it can sometimes cost more money.
Paying for these bills in full (annually) might help you save a bit of money. It might not be a lot of money but it is still for the savings pot.
Avoid add-ons when you purchase insurance
Speaking of insurance, every car owner needs it. When you call/request an appointment to purchase insurance, always avoid getting pulled into buying the add-ons. Although some add-ons might prove useful every other year, they won’t offer you many benefits. They will cost you more money and sometimes, not even come in handy.
Therefore, always try to stick with the basic insurance as it will cover what you need on an everyday basis and not break the bank.
Going the same way as a friend? Carpool your journeys
Should you always be heading in the same direction or to the same place as a friend or colleague, then why not consider carpooling? Instead of using two or more cars for the same journey, you can all club together and share the journey. It will help to reduce the cost of your and your friend’s fuel bill.
You can take it in turns to carpool each day so that the physical work is fair and you can all save the same amount of money.
Buy a smaller car
Even if you aren’t keen on smaller cars, they can sure prove to be great for cost-savings. They are often cheap to run, cheaper to maintain, and cheaper to purchase. Therefore, you can save in all areas of expenses when you opt for a smaller car.
You don’t have to buy the smallest car on the market to notice the savings. Simply downsizing just a little bit and opting for a cheaper automotive brand can help you make considerable savings. Sometimes even the brand of the car can hike up the insurance prices. Hence, doing your research in the best brands/car to purchase can help you save a lot of money in the future.
Consider buying a car used
On the topic of the car you choose to buy, it can often help if you buy a used car instead of a brand new one straight from the garage. As soon as you drive a car out of the garage, it depreciates in value anyway. Therefore, it really is worth looking around for an almost new car, as you will likely make some savings.
You might not find one that hasn’t been used. But, with a good clean and wash, you wouldn’t know if someone else had driven it or not.
If you really are not fussy about the condition of the car, then you can save even more if you buy one that is a few years old.
Car prices reduce year on year, so looking for one that is just a few years old instead of a month old can help you save a lot of money.
Using this guide, you can soon start saving money on your car expenses instead of blowing your bank account.