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Many families rely on a car to get around. Buying a car and keeping a vehicle running can put a serious dent in your household income. There are ways to save money on motoring. If you’re spending too much on your car, or you’re looking to upgrade without blowing the budget, here are some top tips to help you save. 

Closeup of a car speedometer

Buying a new car on a budget

Do you dread taking your car for an MOT? Is your current vehicle too small to travel in comfort? If you’re looking to upgrade without spending a fortune, there are options out there. Firstly, if you own a car, it’s worth looking into part-exchanging and using the value of your existing car to reduce the cost of a new motor.

Another avenue that you may wish to pursue is taking out finance with a company like Smile Car Finance. With finance, you can buy a car and spread the cost over a period of time. It’s also beneficial to explore contract hire and leasing, especially if you’d prefer a new car.

If you are buying outright, used cars are usually significantly cheaper than brand new vehicles. If you’re looking at private adverts and listings, always go and see the car before making an offer. The information might not be accurate and the photos may not tell the whole story. 

Shopping around for insurance

Car insurance is essential, but often, people pay more than they need to. If you’ve been with the same policy provider for years, it’s well worth shopping around for a better deal. If you drive less than 25 miles a day, you could qualify for lower premiums.

The insurance industry is fiercely competitive, and many companies save the best deals for new customers. If you automatically renew your policy without comparing prices, you could be paying a lot more for the same level of cover.

Use a comparison site to see if you could save, and offer your current provider a chance to match or beat a competitor price. If you’re buying a new car, always get quotes for insurance before signing a contract or parting with any money. You don’t want to find that your insurance is going to cost a fortune when you’re already committed to the sale. 

Opting for eco-friendly vehicles

Going green is beneficial for the environment, but it could also save you money. Eco-friendly vehicles tend to be much more fuel-efficient, which will cut running costs, and there are also incentives available, which eliminate charges like road tax. If you drive a gas-guzzling car at the moment, it’s a good idea to explore greener alternatives and see how much you could save per year. Often, the purchase price is higher, but you’ll start saving immediately. 

An electric car charging at a charging point

If you’re on a budget, or you’d like to have more disposable income at the end of the month, there may be ways to save money on motoring. Shop around for the best deals on new and used cars, consider finance options, compare insurance policies and prices, and think about going green.

Pinterest pin of a person driving a car

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