Are your motoring costs rocketing? Here are some quick tips to save money!
1. Fill up at the supermarket
Fuelling your vehicle is probably the most expensive part of motoring after the initial purchase of a vehicle – so if you are looking to save on motoring costs, lets’ start there!
There was a rumour that supermarket fuel is somehow less efficient or bad for your engine than branded fuel however, supermarket fuel conforms to exactly the same standards (the British Standard) as branded fuels supplied by the major oil companies.
Every engine is designed to work with this type of fuel. Using a higher grade fuel will provide a degree of fuel efficiency but may not be significant compared with other factors which affect fuel economy, most notably driver behaviour, vehicle load, tyre pressures and traffic and weather conditions.
Make sure if you can to avoid filling up at motorway service stations as the prices tend to be more due to the convenience. There are noticeable savings to be had if you’re prepared for just a few minutes of extra driving. You can download Apps on your phone which will find the cheapest or nearest petrol stations.
2. Buy economical tyres
The type of tyre fitted to your vehicle will make a big difference if you are looking to save on motoring costs. While it might be tempting to go for the cheapest available, that can prove to be false economy in the long run.
Not only do such tyres not perform as well as more expensive tyres (tests show they often affect stopping distances and have an adverse effect on handling), but they may also hit your fuel economy and need replacing more regularly.
Something that not many people know to look out for is the tyres EU label. All tyres sold are fitted with one and it includes the fuel efficiency rating of the tyre.
An ‘A’ rating means the tyre decreases the energy lost through the tyre (often referred to as ‘low rolling resistance’), while a G rating is the worst performing – resulting in increased CO2 emissions and fuel consumption. Next time you need a new tyre fitted look at for this label and talk to the installer about tyre benefits.
Research conducted by Which? found that a good quality ‘eco’ or ‘energy saver’ tyre could improve fuel economy by around 2.5mpg compared with the worst tyre for rolling resistance.
You could slash up to £50 off your yearly fuel bill, which would offset the cost of buying good quality, premium brand tyres.
3. Don’t pay extra for premium fuel
You will have probably noticed the choice of different fuels when filling up with petrol or diesel and the so-called ‘premium’ fuels.
The retailers claim that these fuels offer enhanced performance and economy advantages, whilst cleaning and protecting your engine.
The reality is, unless you’re driving a performance vehicle, you’re unlikely to see any improvements by using fuel with a higher octane (petrol) or cetane (diesel) rating. You will, however, pay up to 10p a litre more for the privilege!
If you’re still keen, our advice would be to experiment with two or three tanks of premium fuel. If you see a significant increase in the number of miles you can squeeze out of a tank, then it could be worthwhile in the long run.
Knowing what fuel is best for your car is important when looking to cut costs.
4. Consider leasing rather than buying
More than 90 percent of new cars are bought on finance, according to the latest Finance and Leasing Association statistics.
The major benefits of leasing include fixed monthly repayments, no concerns about depreciation and the flexibility to switch to a new car at the end of the contract.
Some leasing providers also give you the option to add on a service and maintenance package which is spread across the length of the contract.
Maintenance packages can include all scheduled maintenance such as MOT, servicing and tyre replacement. Breakdown and roadside assistance can also be included. All vital services which are often cheaper when bought in this way.
For electric and hybrid cars, monthly repayments are comparable to their petrol and diesel counterparts; whereas if you were to buy outright, their costs are still quite different, so leasing remains a very popular option for drivers if you are looking to go electric.
5. Drive your car gently when it’s cold
Winter driving presents all sorts of challenges. Cars are at their least efficient when they are cold.
Driving quickly straight from start-up on a cold day means you are redoubling the wasted fuel, and also wearing out the engine more quickly in the process. Drive more sympathetically when it’s cold and you’ll immediately start saving money.
You also shouldn’t allow your engine to idle for too long. Today’s engines are designed to operate from the moment you turn the key – warming the engine is no longer required.
If you like the cabin to feel warm on a cold day, it might be worth investing in a car with heated seats and a heated steering wheel.
Remember to turn them off when you’ve warmed up, as they will increase your fuel consumption when switched on.
6. Check your tyre pressures
You should endeavour to check your tyre pressures on a regular basis. Knowing how to check your tyres pressure is very important for all drivers.
OK, it might cost you 50p or £1 to do it at a filling station, but the savings soon add up.
You could also buy an electric pump and check and inflate yourself, rather than go to a garage to save on motoring costs.
Tyres under inflated by 15psi – a difference you may not notice from a visual glance – can use 6% more fuel.
That’s the difference between averaging 40mpg and 42mpg.
Or, to put it another way, an additional 26 miles from a 60-litre tank of fuel.
Based on the current average price for a litre of diesel, you’ll spend £1,365.08 a year at 40mpg or £1,300.10 at 42mpg – a difference of £65.
7. Track down cheap fuel
It may seem just like pennies per litre but that can equate to many pounds over the course of a year just by searching for the cheapest fuel.
Driving out of your way to fill up with cheap fuel is a false economy, but what steps can you take to ensure you don’t spend more than is necessary?
Get to know the petrol stations in your local area, making a mental note of the price per litre as you drive by. If you can find a difference of a few pence on the same street then making a small detour could be worth it to make a big saving.
Take advantage of supermarket and fuel retailer loyalty cards which can come in handy in when cutting fuel costs. The more you fill up, the more points you’ll accrue, which can be exchanged for vouchers when you come to fill-up in the future.
Small changes matter – at a speed of 42mpg over 10,000 miles a year, a 10p increase in the price of diesel would cost an extra £100.82 over a 12 month period.
8. Choose wisely, petrol or diesel?
Buying a diesel vehicle instead of a petrol would automatically have saved on motoring costs but that’s not necessarily true today.
Diesel fuel tends to cost slightly more than petrol and, while they usually give better economy, efficient new petrol engines are starting to catch up.
Unless your annual mileage is very high or you predominantly drive on motorways or other major roads, you might be best sticking to petrol. You can also experience problems with a diesel engines DPF filter is you’re not doing sufficient miles.
As a rule of thumb, if you drive more than 10,000 miles in a year – and in particular tend to drive on faster roads – a diesel-engined car could work out cheaper. Anything less than that and a petrol-engined car might make more sense.
9. Take an advanced driving course
You can tweak your driving style to drive more economically and save on motoring costs.
An advanced course will teach you these – you’ll still make good progress but be doing it in a more efficient ways.
Advanced driving courses could also bring down the premiums on your annual car insurance policy.
Hypermiling is the art of driving as economically as possible and once you take on the challenge, it can become addictive. Hypermiling can help you to look after your car more. However, If you take hypermiling to the extreme, then you may run into trouble. Extreme hypermilers have been known to turn their cars off, called Forced Auto Stop (FAS), to ‘glide’ down the road, saving as much petrol as possible
10. Haggle on car insurance
Car Insurance can be one of the biggest motoring costs you face annually.
Figures released by the Association of British Insurers (ABI) revealed that, on average, comprehensive cover costs £462 a year, the equivalent of £38.50 a month.
Don’t simply accept your auto-renewal quote, give your insurer a call to see if you can haggle and reduce it.
Before you do so, make sure you see how well your quote and benefits compare against other insurance providers.
You should also consider the factors that influence the cost of your premium.
These include the type of car, where you live, where the car is kept overnight, your age, driving experience and your history of claims.
While you’ll be unable to change your personal circumstances, you can make savings by storing the car in the garage, reducing the number of miles you drive or you could purchase ‘Black Box’ insurance. You could consider borrowing a car when you need one and taking out temporary car insurance.
Policies can be set up quickly and taken out for as little as an hour or up to 30 days. For learner drivers, there are flexible, short-term learner-driver policies that allow you to pay only for what you need until you pass your test. From a day up to 5 months.
Buy a cheaper car!
Trying to get the best deal on a vehicle should always the priority. Have you considered buying from an auction or other trade source?
Buying a car at auction is extremely appealing as it can save you thousands of pounds off forecourt prices, depending on the make, model and its age.
The main reason for buying at an auction is that you can purchase a car for a lot less than if you bought it off a dealer’s forecourt, especially given the recent rise in used car prices.
The reason you can save money is you have to do a reasonable amount of legwork yourself before getting to the auction and there could be plenty of pitfalls for the unwary to fall into however, with the assistance of a professional car buyer these pitfalls are few.
Here at Car Auction Buying Service, we’re dedicated to finding the very best deal at auction for you, attending events arranged by British Car Auctions, Manheim and Aston Barclay, plus many more. We assist in bidding and provide the support you need to buy successfully from the auction; without the need for you to travel across the country need to buy successfully from the auction; without the need for you to travel across the country.
Thanks to our multiple trade accounts we pay much lower buyers premiums compared to private buyers. We then pass that saving on to you! We scrutinise the cosmetic reports and mechanical reports that accompany each vehicle. Our team can also provide trade price warranties and deliver your car to any location in the UK. To find out more, or to inquire about buying your next vehicle from a nationwide or local car auctions, please give us a call on 0121 769 1729. Alternatively, you can fill out our online form.
