Most motorists are finding it increasingly difficult to be able to afford to stay on the road in the current economic climate. The spiralling costs associated with being a vehicle owner, which includes things like car insurance, are leaving many people facing potential financial hardship.
There are those that have already taken the drastic action of getting rid of their vehicles altogether and using alternative forms of transport to get around. For some drivers, though, this is not an option and the following are a few ideas on how to reduce some of the costs linked with driving.
Be shrewd when searching for car insurance
The cost of the actual vehicle aside, car insurance is probably the biggest single outlay that you as a motorist will make on an annual basis. Unless, of course, something goes drastically wrong and your car needs to go into the garage for some extensive work.
Unfortunately, while is little you can go do to lower the price of young drivers insurance due to the fact that young drivers traditionally pay far more to get covered as they’re inexperienced, most other age groups should be able to take advantage of the great savings available online. You could literally save yourself hundreds simply by scouring a few websites instead of automatically renewing with a current insurance provider.
Loyalty, sadly, counts for very little when it comes to car insurance so be prepared to switch insurers every year. Offering to pay a higher excess can also lower the price, as can taking out multi-car policies with one particular insurer if relevant to your circumstances.
Think about downsizing
The quickest and easiest way to dramatically slash all the costs associated with being a vehicle owner is to downsize to a smaller make and model that’s cheaper to run in terms of insurance and petrol. These are tough times for many households trying to juggle a multitude of bills so being proactive now could ease the financial burden on you quite considerably. If you’re driving around in a car that’s bigger than what you actually require or you can’t afford to run your current vehicle then do something about it and stop burying your head in the sand. Show a bit of common sense.
Can you manage with ‘just’ the one vehicle?
Many households have more than one vehicle, so it may be possible to get rid of one altogether and try and manage without it. It’s bound to take some getting used to, but it may only take a few subtle lifestyle changes and may be a more realistic goal than you think is possible. If scrapping one vehicle is not possible then try and reduce your mileage and lift share as much as possible with friends and family members.