When purchasing a car, one of the truths that many people seem to forget is that it comes with significant expenditures. But car owners immediately realise this reality as soon as they begin driving. That’s why smart buyers look at different features, especially fuel efficiency, which is an excellent way to save money for the long term. Whilst car ownership does come with expenses, some methods can help you minimise the cost of driving – and we’re sharing them with you today!
We’ve already mentioned it above, but it’s usually not stressed enough. Your car’s fuel efficiency is essential, particularly as petrol prices seem to have nowhere to go but up. The good news is that newer models offer this feature and come with better gas mileage. Several vehicles, including light trucks, can get up to 50 MPG. And if you want more kilometres, go for a hybrid car. Other options are hybrid-electric, all-electric, or diesel cars.
Continuing on the fuel efficiency topic, regular car servicing can improve or at least maintain the engine’s fuel economy. It does not have to be complicated. You should check your vehicle’s manual to learn the recommended oil changes, along with the tune-ups. Read about the proper tyre pressure, too, which can reduce your car’s operating expenses in the long run.
Yes, good quality tyres can make a huge difference. You might think that you can save a lot of money if you choose the cheapest option out there, but you’d be proven wrong in no time. Inexpensive tyres do not perform well. Tests also show they contribute to more stopping distance while also negatively affecting handling. Additionally, poor quality tyres can reduce your car’s fuel efficiency. And if these reasons are not enough, you will end up spending more money. These tyres get worn faster, which means you have to replace them more frequently.
Have you spotted those premium fuel products? They have all sorts of claims, from better performance to fuel economy advantages. Some of them even say that they can clean and protect your engine. Your car is engineered and tuned to work with a specific fuel type in Australia, usually one of these options, 91, 95, 95 or diesel. Unless you have a performance vehicle, you will not see any difference when using fuel with higher octane rating, it could actually harm your engine. If you’re in WA, you can save money on your fuel by heading to FuelWatch, they will show you the fuel prices in your area today and tomorrow.
You can save hundreds or even thousands of dollars per year if you allocate a few hours researching insurance companies. It’s a good idea to ask about discounts for seniors, as well as special rates that apply to you. Some insurers that offer home and auto insurance will give you a nice offer if you’re willing to buy both from them.
Have a sound strategy when it comes to your deductible. This pertains to the payment you have to make before your insurer pays for an accident, theft, or whatever is covered. You can reduce it by at least $200, which can lower certain coverage costs by 10% or more. However, a lower deductible means a higher premium. So, if you want to save on the annual premium, you can increase the deductible instead.
Your debts can impact your credit rating, which can increase your auto insurance costs. This does not mean that you should not have any loans. While ideal, it’s often unrealistic. Instead, it would be best to focus on repaying your bills and loans on time to give you a better insurance rate. Make sure that you do not default on a loan; otherwise, it can hurt your credit rating badly.
Being a good driver is a life- and money-saver. Sure, you don’t have to worry much if you get a single traffic ticket, but having several can quickly affect your insurance premiums. It is even worse if your tickets (or accidents) all took place within a short time. That is why you should be a careful driver. Avoid speeding and never drive recklessly. It’s not clever to text and drive or drive under the influence.
Are you among those drivers who press on their accelerator when starting the vehicle? Cars today have engine electronics, which are responsible for regulating their starting procedure. Some years ago, you could benefit from a little gas as you turn the engine on to get the car running. However, times have changed, so you do not need this step anymore. It wastes extra fuel and could even damage your engine. The car can now start cleanly even without putting the pedal on the metal.
Cold cars are the least efficient. Allow it to warm up for a few more minutes before you drive. If you go straight from starting up the car, you’re doubling the fuel you’re using. At the same time, you’re wearing out the engine quickly. Give the cold car some mechanical sympathy by letting it sit for a while.
However, don’t let the car stay idle for too long. The engines we have today are engineered to operate from the instant you turn the key, so you do not have to wait for several minutes to heat the engine. An extra five-minute warm-up or less should do the trick.
By applying the tips above, you’re well on your way to saving money while you enjoy the perks of owning a car. Are you ready to buy one? Loans Unlimited is here to help you. Contact us and find out how you can avail of an auto loan so you can get behind the wheel in no time.