50 Tips to Save Money on Motoring
Whether you’re a first time driver or an experienced motorist, owning a car can be an expensive business. In Australia, it costs around $260 a week to run an average family car and with soaring fuel prices, expensive registration costs and car insurance on the rise, it’s more important than ever to try and save money wherever you can.
To help keep your car running and your bank account in credit, Nationwide Vehicle Contracts has put together a list of the top 50 tips to help you save money on motoring.
Buying A Car:
Buying a car is likely to be the second most expensive purchase in your life after buying a house so it’s essential you are fully aware of all the financial implications before you drive away. Before you part with your money, do your research and shop around. Follow these top 10 rules and you could end up saving thousands of dollars…
1. Set yourself a budget and stick to it. It’s easy to get carried away when purchasing a new car so if you’re prone to overspending, take a relative or friend with you to help keep you in check.
2. Research a car thoroughly before buying. By checking the market, you can easily compare the latest car sale prices so you don’t end up overpaying.
3. Search around for car finance. You can compare over 400 loans by using one of the many online comparisons sites, potentially saving thousands of dollars.
4. Go green. Research the car’s fuel consumption and CO2 emissions before parting with your cash as these figures are important in helping your fuel last longer.
5. Consider car leasing vs car buying. If you’re planning to change your vehicle on a regular basis, leasing a car could be cheaper than purchasing outright from a dealership.
6. Shop around for a used car. You could more save money with a private sale or car auction than at a local dealership.
7. Haggle! Barter with the seller to slash the car’s price. This rule applies for new cars as well!
8. Ask for extras to be thrown in. Simple things like an up-to-date safety check, car registration disc and full tank of fuel can go a long way when it comes to saving money.
9. Never view a car in the rain, in poor light or at night. View the car in good light to evaluate its condition effectively. Make sure you can see the vehicle clearly from all angles.
10. Take a test-drive. Test drive the car before committing yourself as this is the only way to assess whether the car meets all your needs and whether it has a mechanical problem.
Cut Fuel Costs:
With fuel prices higher than ever before, filling up your car at the pumps can be a costly expense. By following these simple top tips you can improve your fuel consumption and save money…
11. Check Fuel Prices. Research the latest fuel prices in your area by logging onto Motormouth. Fuel stations often compete against each other so make the most of the cheapest rate.
12. Use loyalty schemes. A number of stations or local stores offer loyalty schemes which can help save money on fuel – take advantage!
13. Keep your tyres inflated. Low tyre pressure increases the drag on your car wasting more fuel. Correctly inflated tyres improve efficiency by up to 3%.
14. Turn off the air con. Air conditioning also uses an incredible amount of fuel so make sure it’s turned off unless you really need it.
15. Don’t fill up. Try and keep your fuel level at around the halfway mark to help your car run longer. Low enough to lighten the car but not too low that you’ll break down!
16. Remove your roof rack. A roof rack adds massive wind resistance to a car and can increase fuel consumption by up to 30%. Get rid of it!
17. Plan your route. Cut fuel consumption and long journey times by investing in a satellite navigation system.
18. Lose Weight. Remove any unnecessary items from your car – every ounce you lose will save you money at the pumps.
19. Avoid sharp acceleration. Move off gently and smoothly to reach your target speed and maintain it for maximum miles per gallon.
20. Be aerodynamic. Try to drive with your windows and sunroof closed as this will help make your car more aerodynamic and reduce drag resistance.
Insuring Your Motor:
Car insurance is on the rise so its time to get money savvy. When your policy is due for renewal, make sure you shop around to get the best deal. It’s also time to watch your speed…
21. Shop around. Get yourself onto an online comparisons site to compare more than 300 insurance quotes and get the best deal.
22. Slow down. You must inform your insurance company about any motoring offences and speeding tickets add an average of 13% to insurance premiums… stick to the limit!
23. Stay safe. Accident-free motorists can be rewarded with up to 70% no-claims discounts so drive safely.
24. Protect your no claims bonus. Ask your insurance company if you qualify for no claims protection so you don’t lose your bonus if you make a claim.
25. Third party cover. If you own a low-value car, switch to third party cover and save yourself some money.
26. Avoid modifying your car. Certain modifications can raise your car insurance premium so resist the temptation to add your own modifications.
27. Get breakdown cover. Many insurance companies offer inclusive breakdown cover at a discount rate or as an introductory offer so make the most of it.
28. Check the discounts. Many insurance companies offer discounts for older drivers, members of a professional organsation and for those willing to pay a higher excess.
29. Combined coverage. If you insure more than one vehicle with the same insurance company you can lower your overall premiums.
30. Pay outright. If you can afford to pay your insurance premium outright rather than by direct debit, you can save money on monthly interest costs.
Car Maintenance:
Look after your car and it’ll look after you… sound simple? It is! Perform these basic maintenance checks and you could end up saving a fortune on expensive repair bills…
31. Top up your coolant. Keeping your coolant level topped up can avoid engine trouble and nasty repair bills.
32. Replace your battery. If your car’s battery is nearing the end of its life, replace it as soon as possible to avoid an expensive breakdown recovery.
33. Change the oil regularly. A dirty engine can lower fuel economy so change your car’s oil on a regular basis to keep it clean and running efficiently.
34. Check your tyres. Check your tyres on a weekly basis to prevent paying for an early replacement. Check the tyre pressure, tread depth and look for any stones or nails.
35. Stick to your service schedule. If you miss consecutive service checks, your warranty may become void and could end up costing hundreds of dollars on parts and services in the future.
36. Change tyres yourself. By changing old tyres yourself, you could save hundred of dollars on service costs.
37. Fill your tyres for free. Pop down to your local fuel station and fill up your tyres with air for free. There are plenty of garages which don’t charge for this service so make the most of it.
38. Perform your own safety check. Look for windscreen chips and cracks as well as faults with the horn, wipers, door mirrors, seat belts, lights and handbrake before paying for repairs.
39. Check your oil level. If it’s too high or too low, it can cause trouble for your engine leading to expensive repair bills so make sure it’s at the right level.
40. Switch off electronic controls. Switch off your lights, wipers, radio and heater before turning your engine off as this allows extra charge to run into the battery, making it last longer.
Drive Economically:
A recent survey has revealed that the majority of drivers can save money on motoring by simply cutting out bad driving habits. To make the most of your fuel by driving more efficiently, simply follow these tips and you could cut your fuel costs in half…
41. Change Gear. Change gear at around 2,000rpm in a diesel car or around 2,500rpm in a petrol car to put less strain on your engine and use less fuel.
42. Don’t mess about. Only switch on your engine when you’re completely ready to drive and avoid sorting out your mirrors or glove box whilst the engine is running.
43. Manage your journeys. Set yourself a weekly petrol limit and avoid short journeys wherever possible.
44 Keep your eyes on the road. Stay alert so you can plan ahead and move away more gradually. A steady drive is more fuel efficient than an erratic one.
45. Avoid built-up areas. Regularly slowing down and speeding up because of junctions and speed bumps is a less efficient way to drive.
46. Check your tyre pressure regularly. Make sure you fill to the recommended pressure as poorly inflated tyres put more strain on your engine and burn more fuel.
47. Switch off your engine. Switch off the engine if you’re likely to be at a standstill for more than three minutes.
48. Slow down naturally. Rather than braking all the time, let your car slow down naturally and use its stored momentum.
49. Convert your engine. Switch your engine to run on liquid petroleum gas (LPG), a fuel which costs less than unleaded and diesel.
50. Car Share. Finally why not share a ride to work with a co-worker and split the fuel bill to save costs on a weekly basis?
By following the above tips, almost everyone can save money on motoring as well as helping the environment. Happy motoring guys!
Marie Smith is a keen motorist and a regular writer for Nationwide Vehicle Contracts, the UK’s premier car leasing website. Visit the website for great UK car and van leasing deals.