The internet is ablaze with ways to save money to help with the UK’s current cost of living crisis, but one of the biggest pocket burners is our cars.
With skyrocketing prices of fuel and energy, getting from A to B by car is proving more expensive than ever for drivers across the UK.
To help, motoring experts Leasing Options have uncovered how making a few changes could make a difference on your annual expenses.
According to a study by NerdWallet, the annual cost of owning a car comes to £5,744 - over 20% of the average annual salary.
Mike Thompson, Chief Operating Officer at Leasing Options said: “After a period of skyrocketing fuel prices, the cost of owning a car is once again putting a strain on Brits, especially when combined with the current cost-of-living crisis.
"People across the country are looking for ways to cut costs, no matter how big or small. While some savings to be made may be bigger than others, all of our recommendations contribute to the most important task, which is saving money for drivers.”
By applying these five quick changes, drivers could be saving £567.
1. Increasing fuel efficiency can save you over £220 per year
Simple steps such as keeping your tyres properly inflated, reducing the amount you’re drastically breaking and clearing out unnecessary weight can save up to 18% on every tank of fuel.
Given the average annual cost of a tank of petrol is currently £1,272, that’s a saving of over £228.
2. Washing your car at home saves over £160
The general rule is to keep your car’s paintwork appearing as new you should wash it every week.
There’s no question that professional car washes gives you that ‘new car’ look we love, but it’s also one of the most expensive ways to maintain your car’s paintwork.
Washing your car yourself can save over £160, based on the UK’s average car wash price.
Not only is it cheaper, drivers can take the time to pay attention to detail when washing their car, adding waxes and other coatings to keep the paintwork looking brand-new for longer.
3. Shopping around for car insurance and breakdown cover saves £137
Comparing car insurance quotes can save £137 on average, according to Leasing Options.
Insurance providers offer exclusive quotes to new customers, so it’s worth the time looking into which will offer you the best deal.
Better yet, you can go back to your current provider to see if they can match or beat that exclusive quote.
4. Performing your own car maintenance saves £42 per year
Car maintenance seems daunting at first but if you’re willing to get your hands dirty, there are numerous small maintenance tasks you can perform to avoid a costly trip to the garage.
Tasks such as changing your windscreen wipers, replacing an air filter and fixing new headlight bulbs are all easily done without leaving your driveway. Doing just these maintenance tasks at home instead of a mechanic’s garage would save £78 per year.
If you’re not feeling confident doing the work yourself, you can ask a competent friend/family member to perform the maintenance, or take your car to a trusted local garage to avoid any damage to your car.
5. Pay for road tax annually to make small savings
While spreading the cost of your road tax over the year is easier, it actually equates to a higher sum at the end of the year. If you’re looking to even cut costs from small places, paying road tax in one lump sum saves £8.25.
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