According to research carried out by tyres supplier blackcircles.com, the average motorist will spend a huge £189,416.64 on motoring costs during their lifetime. When you take into account that the average home in Britain has an asking price of £179,492, the figure becomes even more eye-watering.
Wondering how much it costs you to run your vehicle? Leading new and used car dealership Motorparks is here to help. They have created this handy and easy-to-use motoring costs calculator, which analyses everything from the price of your road tax to your breakdown cover rates and insurance premiums.
If you have tried the calculator and found that you are spending far too much on your beloved vehicle, try these tips to bring your costs down considerably:
Shop around for car insurance
It is always tempting to just agree with a renewal quote that has been provided by your existing motor insurance company — things are a lot easier that way.
However, it only takes a few minutes to compare policies on price comparison sites like Confused.com and Moneysupermarket.com. Doing so will more than likely reveal much cheaper rates to the one you have been quoted. Sometimes, your current provider will agree to match the cheapest rate to save you time when getting a deal.
Get your car regularly serviced
Fail to follow your car manufacturer’s recommendations on when you should get your vehicle serviced and you could end up paying more as a result of not having your oil regularly changed.
As a service or MOT can be a large one-off cost, think about putting away some cash each month so that it feels like you’re paying less instead of forking out a lot at once.
Get your Pass Plus qualification (only applicable to newly qualified drivers)
A top piece of advice for those of you who have only just received their driver’s licence is to apply for your Pass Plus qualification.
Many new drivers may be put off by the idea that they have to go through at least an additional six hours of extra tuition after they have already passed their main test. However, by getting through lessons like driving in the dark and on motorways, you may be able to save up to 35 per cent on your insurance premiums.
Adopt a smarter driving technique
There are small things you can change about being behind the wheel to bring the cost of motoring down. For example:
- Change up a gear when your rev meter hits between 2,000 and 2,500 RPM.
- Avoid using air conditioning as much as possible.
- Remove unnecessary weight – think roof boxes that are sitting empty or boots which are filled with tools and clutter.
- Stick to the speed limits. Not only does this point keep you on the right side of the law, but driving at 70mph can cut fuel consumption by up to 25 per cent when compared to travelling at 80 to 85mph.