How to save money on your car

With the rising cost of living, you may be looking for ways to reduce your expenses. Over 81% of people have access to a household car, so this may be a good place to start when trying to save money.

Buy a used car

Used car sales have soared in the past few years and buying a used car could save you thousands over the equivalent of a new model. If you aren’t confident in your car knowledge, you should look to buy from a car dealer or trader, as buying privately can come with risks. Dealerships will also often provide you with a warranty, giving you peace of mind knowing that your car is in full working condition. 

When looking for a used car, you should opt for a reliable make, like Peugeot, which has been identified as being the most reliable brand in the UK. Due to their versatility, affordability and availability of replacement parts, finding used Peugeot cars for sale could be a great way to keep your costs down.

Fuel

With 2022 fuel prices in the UK hitting the highest ever recorded, you are probably wanting to keep costs down as much as possible when it comes to filling up. Nowadays, there are free fuel price comparison websites that allow you to shop around for the cheapest fuel easily based on your postcode which can help you to save a few pennies each time you fill up. Over a year, this can end up saving you hundreds of pounds when refuelling your car. 

You may also want to avoid opting for the high-performance fuels offered by most fuel stations. For those of us without high-performance cars, premium fuel is likely a waste of money as it doesn’t provide any more power or speed than regular fuel – it just costs more at the pumps.

Insurance

There is a range of ways to bring your insurance down that you may want to consider. Black box insurance involves fitting a GPS device that monitors how well you drive from speed to breaking time and general vehicle handling. It is a relatively painless way to keep your insurance costs low if you are already a sensible driver and is a solid option for young drivers. Black box insurance can save up to 60% on your renewal price with safe driving so could be something to look into if you don’t already have it.

Adding an experienced driver as a secondary driver to your policy can also reduce your insurance premiums. You must ensure that you are the main driver of the car and that your secondary driver has a clean driving license and decent no-claims, otherwise, it could end up increasing costs. You can experiment with this when renewing your policy with friends and family members to see if it could work for you.

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