The cost of owning a car is jumping every year and while in the past this has been minor skips – in comparison to what we’re currently seeing – for many it’s now no longer financially viable.
But every cloud has its silver lining, as they say. It’s important to look at what positive has come out of this. While in the past, car owners would use the car excessively, now drivers are thinking twice before making every journey.
And this isn’t a bad thing. Congestion is an increasing problem, and for those who have been working for ways to solve this, the rising cost of owning a car is certainly a blessing. For those who are concerned about the environment, and the effect car usage is having on it, motoring costs will also be seen as a positive. Rising motoring costs mean that drivers are now using the car only for necessary journeys, reducing their carbon footprint and the demand for fuel.
According to a tweet by @Fuelcardexpert fuel is now set to overtake depreciation and become the highest cost of running a card. Fuel prices have risen by around 50% over the past five years and, according to CFC Solutions, there is every reason to expect this trend to continue.
However, just because the cost of running a car is getting more expensive, that doesn’t mean that you need to get rid of the car altogether. Yes, running a car is now more expensive than ever but there are ways you as a driver can cut motoring costs.
Use the Car Only For Necessary Journeys
Do you really need to use the car for this journey? Using a car for short journeys, where walking or using public transport is possible, is one of the main ways in which drivers overspend. By monitoring your car usage you will be able to quickly spot areas in which you unnecessarily use the car, finding ways to save money.
Shop Around for Cheaper Insurance
Car insurance is one of the biggest motoring costs, and now more than ever it’s important to do your research and find the cheapest price possible. Take advantage of comparison sites and always check to see if your insurer is running a promotion or special offer – a 10% discount can make a big difference to the final price.
Find Out Where the Cheapest Fuel Is At
Fuel costs are continually rising, and knowing where to buy the cheapest fuel in your area is one of the smartest ways to cut costs here. Shopping around for fuel doesn’t necessarily mean driving around town with a notebook and pen, there are already plenty of websites that track the cheapest fuel by postcode or zipcode. Petrolprices.com (UK) is one example of this, and the number of sites offering this service is growing all the time.
Consider a More Fuel Efficient Car
If you’re driving an SUV to drive the kids to school, perhaps it’s time to consider if it’s really worth it. Fuel efficiency is now more important than ever and one of the biggest savings you can make is by switching to a more fuel-efficient car. Now, this doesn’t necessarily mean trading in for a Prius but just making sure you’re not paying over the odds for your journeys.