Is Your Car Burning Your Money?

1st October 2018

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Having a car is not considered to be a luxury, more like a necessity. As the road networks are becoming more connected and the use of public transport is declining, most of us will need a car to get to work, do our shopping, and take the kids to school. Cars, however, can be expensive if you don’t pay attention to them, so make sure that you review the following areas regularly to reduce your motoring budget for years to come.

Your Tax

You are automatically assigned a tax rate for the car you drive, and you might think that that’s simply the way it is. However, it is important that you check whether or not you are paying too much. If you are single, and have a large 7-seater, with a huge tax rate, you might consider getting a smaller car and engine to save every month on your fuel and your other costs.


Another necessary and expensive cost is your car insurance. Just because you have been with the same company for years, you don’t have to stick with them after the increase your premium. There are plenty of competitors ready to offer you a better deal on that might even suit your individual circumstances and your preferences better. Consider taking on an advanced driving course, too, to lower the cost of your premium.

Fuel Cost and Performance

You might simply accept the fact that your old car will gobble up gas, and there’s nothing you can do about it. In fact, there are some simple things you can do to improve your fuel efficiency. Empty that boot to avoid carrying extra weight around. Keep your tires inflated, so you are getting more miles per the gallon. Get your car serviced and the oil changed regularly, so you can benefit from the best possible performance.

Repairs and Maintenance

Before you buy a car, you will have to check the cost of original and aftermarket parts available. The general rule is that the more common your year and model is the easier it will be for you to find parts when you need them. Shop around for a reliable service provider, and stay away from expensive branded dealerships, unless they offer a discount.

Depreciation Value

Once you are certain that you can afford your first car, you will have to check the historic depreciation values of the model. You will lose money straight after you drive out of the dealership if you buy new, but if you buy a used model, you want to get the best value of your vehicle and make sure that you can sell it on later without losing too much money.

Running costs of cars are going up every year. From fuel emission taxes to gas costs, and maintenance, you will have to get a good deal in every area to make sure that your car is not burning your money every time you are driving it.

Photo Credit: Emil Vilsek Alexandru STAVRICĂ

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