If you’re in debt then you need to look for every opportunity to save money. One way to do that is simply to run your car more cheaply and this can be a big drain on resources otherwise. But how can you do that? Here we will look at some cheaper ways to run your car.
First of all think about the cost of the car itself, if you’ve had to take out an auto loan or buy it on finance then this will only add to your debt and that’s not smart. A better alternative is to buy second hand, or if you don’t want a second hand car, to rent a vehicle which involves similar monthly payments to renting but without your being ‘in debt’. Think too about things like MOT and tax and make sure that you pick a car that’s reliable so won’t cost you too much in servicing, but that isn’t going to cost you over the moon in tax (older cars often have much lower tax and in some cases you won’t even need to pay tax at all).
Some areas are worth investing in though – for instance getting a car with good fuel consumption is a great way to save money, and if you buy a hybrid you might even get tax deductions – though these are generally very expensive. Look into the vehicle you’re about to buy and find out whether they are going to be a drain on resources – if so then there are cheaper ways to run your car.
Once you’re running your car though it’s important to keep the cost of fuel down and this means finding ways to use less energy. Not only will finding cheaper ways to run your car help your bank balance, but it will also help the environment. Some tips are to make sure that you avoid breaking (take your foot off the accelerator early and hang back from cars in front), to avoid using large amounts of air conditioning, to make sure your tires are fully pumped up, to close your windows to make the car more aerodynamic, and to remove anything heavy from the trunk. These little tips can save you huge amounts over the course of a car’s lifespan.
Other cheaper ways to run your car involve making sure you get all the fuel you pay for – so shake every last bit out of the petrol pump and top up in the morning when its cold – the fuel is more compressed at this point. You should also make sure to find where you can get the lowest rates on fuel and to time your top ups with when you’re near them.