Being a car owner has always seemed relatively expensive but the cost of living crisis has amplified motoring costs and made it even harder for drivers to stay on the road. If you enjoy driving or you need a vehicle to get around, there’s no doubt you’ll be looking for ways to cut the amount you’re currently spending. To start reducing your outgoings, take a look at these five ways to cut the cost of motoring now:
1. Change Insurance Providers
If your car insurance policy is nearing its end date, start looking around for new deals and alternative providers now. Letting your policy automatically renew can mean that you get stuck with inflated prices, which you’ll want to avoid at all costs. However, getting a fresh quote can reveal how much you could be saving, particularly if you’re willing to consider changing to a different insurance provider.
Remember – compare like-for-like policies to get a true idea of potential savings and check whether extras, such as legal cover or no claims discounts, are included in a new policy before you make the switch.
2. Learn to Maintain Your Vehicle
If you take your car to a garage every time it needs basic maintenance work undertaken, there’s a good chance that you’re spending more than you need to on motoring costs. While there are some tasks that should only be completed by a qualified mechanic, there are plenty of maintenance tasks that the average car owner can undertake.
By learning how to change the oil, check the tyre pressure, measure tyre tread depth and replace broken wiper blades, for example, you can keep your vehicle well-maintained without paying for someone else to carry out these simple tasks. Many colleges and academic institutions are now running car maintenance courses designed to help owners learn the skills they need, so you could even get expert tuition to help boost your confidence.
3. Switch to an Electric Car
One of the most effective ways to reduce your motoring costs could be to switch to an electric vehicle. If you need to replace your current motor, switching to an electric car will mean that you don’t have to pay for fuel or road tax. Depending on how far you travel, this could save you hundreds of pounds each month, which is certainly a significant saving.
Although many people are apprehensive about making the switch, there are plenty of electric car driving tips that will help you to acclimatise to a different type of vehicle.
As well as saving money with electric cars, transitioning to an electric vehicle will have a positive impact on the environment too. If you’re looking for effective ways to reduce your carbon footprint, driving an electric car is one of the most impactful changes you can make.
4. Track Your Driving
The cost of insuring a car can be hundreds or thousands of pounds each year, depending on the vehicle in question, your location, and your driving history. As all drivers need to be insured, this isn’t a cost you’re going to be able to avoid but there are ways you can reduce the amount you’re spending on car insurance.
In addition to looking for better deals from different providers, consider a telematics insurance policy. Sometimes known as ‘black box insurance’, this relies on a small device to track your driving and, the safer you are on the road, the more you could save on future insurance policies.
If you regularly give friends, family members or colleagues lifts or you loan your vehicle out to people you know, consider asking for a contribution to your motoring costs. The wear and tear on your vehicle, in addition to fuel or charging costs, soon adds up and even a relatively small contribution could have a considerable impact on how you’re spending out of your own pocket.
For a more formal solution, consider renting out your car when you’re not using it via an established short-term car rental app. This allows you to offset some of your costs and still allows you access to your vehicle when you need it.
Can You Afford to Stay on the Road?
The increased costs associated with buying, maintaining, and driving a car have left many motorists questioning whether they can afford to stay on the road. However, making changes to your driving habits, switching your vehicle, doing more maintenance yourself and finding better insurance deals could substantially reduce how much you’re spending. With a few changes to the way you own, maintain, and drive your vehicle, you might be surprised at how much you can save – and how easy it is to stay on the road.
