Cars are money-sucking monsters. There’s no rocket-science here. Australian registration now averages above $700.
Here are some ways we are adding to the cost of owning a car in petrol:
Burning up highways doing drop-offs
Stuffing your car with grocery shopping
Commuting to work at rush hour
Filling your car at the servo with petrol
Driving the kids all over the place
Whatever your scenario there are plenty of common and little know ways to save on your car.
How Not To Burn Cash With Your Car
Don’t buy new
The first stumbling block of car ownership is what you paid for it. Whether you leased your car or syphoned your savings to make this big ticket item buy, you would have felt it. A car is one of the biggest purchases you’ll make aside from a home mortgage.
Here are two ways to reduce this cost:
Avoid buying new. The minute you drive your car out of the yard, you’ll burn up cash the moment you hit the road. New cars depreciate super fast. Instead, consider buying something like a good quality secondhand car. For example, Japanese cars have a reputation of lasting the distance even if when older.
Tip: When buying a secondhand car do your homework. Don’t risk buying a lemon.
Some families skip buying a car altogether. This can work well for city-dwellers who have excellent access to public transport. These families might find a way to rent a car for holidays or long trips.
With the advent of sites like Airtasker, there’s even less need for cars now. These services are not only cheap but time saving.
Tip: For other families this option is not practical or doable. In this case, look at losing the family’s second car. Many families work their schedules to reduce the cost of owning two cars. The cost of owning two cars adds up tenfold over the course of one year.
The running costs of owning a care are also a major expense. One way to save is to make sure tyres are safe and kept well-serviced. Get them checked often to reduce any longer term problems.
Tip: To save money on tyres look out for 3-for-2 deals like the ones offered at Bridgestone. Just like cooking in bulk, buying tyres in a deal can reduce costs over time.
Check Petrol Prices
Petrol is a given. We all know how a budget can blow out with the rise and fall of petrol prices. Think about how much more petrol costs the day before a public holiday.
Beware of all the tricks petrol stations play when pricing their petrol. Consider a finder app, which determines the cheapest petrol near you.
Tip: Consider converting your car to run cheaper. Change over to more environmentally-friendly biofuel.
Consider leaving your destination earlier. This reduces the temptation to speed. Driving too fast eats up fuel very quickly, especially on smaller roads. You’ll have to refill your tank more often, which equates to throwing money out of your car window.
Get Your Insurance Sorted
Skip automatic insurance renewals at the end of each period. Providers usually increase the cost during this time. Instead, shop around and find a better deal. Tell your current insurer the deal and they may match it. This simple step will reduce annual costs by anything up to $300!