Your Money-Saving Motoring Guide

• Car Purchase: Explore leasing, consider EVs/hybrids, and downsize if possible.
• Insurance & Tax: Challenge auto-renewals, use comparison sites, and consider black box insurance.
• Maintenance: Choose reliable autocentres, self-wash, and address faults pre-MOT.
• Fuel Efficiency: Adopt efficient driving habits, maintain tyres, and compare fuel prices.

Buying and owning a car is one of the most expensive parts of adult life. And with the economic crisis still at the forefront of our minds, we all want to know how we can save money on our cars. 

In this ultimate car money-saving guide for 2023, we’ll take you through how to make the most cost-effective choices when it comes to car ownership, covering everything from how to find the best insurance deals, to easy driving tips to make your fuel last much longer. 

So buckle in and read on to see our essential car money saving tips. 

• How to buy a car more cheaply
• How to save money on car insurance & tax
• How to save money on car maintenance
• How to save money on fuel
• How to make your car last longer

How to buy a car more cheaply

Of course, the first big chunk of change comes when purchasing the car itself. So, how can you do this more inexpensively? 

• Explore leasing: First, consider if you even need to buy at all – would leasing be better? Leasing essentially means rental for a period of several years, and it gives you the flexibility and the ability to pay in monthly payments. Some leasing options will even throw in maintenance work as part of the deal, so look out for that too. You’ll never own the car when you lease, though some deals might give you the option to buy at the end of a rental period. 

• Consider EV or hybrid: Petrol prices have been through the roof lately, and so investing in an EV or hybrid model can save you money on fuel costs in the long run – even though there is the initial cost to purchase an EV or hybrid vehicle to begin with. Still, it’s an option that deserves a little research – you might surprise yourself. 

• Get a loan: If you’re struggling to drum up the full amount yourself, consider taking out a loan from your bank to cover the costs – this way, you can pay off the car in more manageable payments over a longer time span. 

• Compare savings accounts: When saving up for a car, you’ll want a savings account that provides a decent interest rate. Make use of comparison websites to find the best savings accounts with the best rates and perks – and always use more than one comparison site, as different ones will generate different results. 

• Downsize: Consider your current needs. Do you need a big car? Could you get away with a vehicle that’s smaller and cheaper to run? Think about your needs realistically, and opt for a make, model and size of car that you can more comfortably afford. 

Now you’ve got the best deal on your vehicle, how can you get the best deal on insurance and tax? 

How to save money on car insurance & tax

One of the biggest payouts for a vehicle car owner is annual insurance and tax – so selecting the most cost-effective deal is worth putting thought and effort into. 

Here are a few top tips: 

• If you’re on an auto-renewal deal for your insurance, you don’t necessarily have to accept this. Try calling to see if you can get a better deal, and don’t be afraid to do a bit of bartering.
  
• If you’re purchasing new car insurance, you might be wondering how much does car insurance cost? Truthfully, there’s no fixed answer so make sure to use several different price comparison sites to find the best insurance deal for you.
• When selecting car insurance, you need to be honest in your answers, but also don’t overestimate too much. For example, don’t tell your insurance provider that you drive 5000 miles a year when you drive 3000 – because it will add up to a bigger insurance premium.
• Ever heard of black box insurance? This is an insurance deal whereby a small device is fitted to your car for a time, and it measures how safely you drive. If it deems you to be a safe driver, you could enjoy a discount on your car insurance.
• Pay your tax on an annual basis rather than month-by-month – it’ll work out cheaper in the long run. 

You’ve bought your car, you’ve sorted the tax and insurance – now you’ll need to keep your car in good shape with maintenance and repairs. So how can you do this on a budget? 

How to save money on car maintenance

Taking care of your car will undoubtedly cost money, so that’s why it’s important to put preparations in place to repair and maintain your car in the most budget-friendly way possible. 

• Choose the right autocentre: When things go awry, you need a reliable autocentre who offers a comprehensive and cost-effective range of services for any car need. Here at Mr. Tyre, we’re an independent chain of autocentres who can provide vehicle servicing, diagnostics, repairs and MOTs at affordable rates. We also provide a wide selection of tyres ranging from premium to budget, catering to all economic needs. 

• Wash your own car: Taking a spin through a car wash is money you don’t need to spend when you can simply wash your own car. If you have kids, this is also a great chance for a bit of family fun outside, especially if it’s a warm day. 

• Correct any faults ahead of MOT: An MOT is an essential part of car ownership, but it also comes with a price tag. To avoid failing and having to pay twice, make sure that any faults are corrected ahead of an MOT to give you the best chance of passing. To keep on top of faults developing, it is worth giving your car a visual inspection every month or so, just to check if anything is amiss. 

The next biggest expense is fuel. If your car seems like a gas guzzler, then there are a few things you can do to improve car fuel economy. 

How to save money on fuel

If you’re wondering why is my car consuming a lot of fuel, there could be a few reasons – and some of them could be due to bad driving habits which can be easily corrected. Other ways to save money on fuel could be down to the fuel you’re using, the weight of your car or even the tyre quality. 

So, let’s explore some of the reasons in more detail: 

• Ditch your bad driving habits: The way you drive has an impact on how much fuel you consume, and some of us have developed some pretty bad habits over the years. For example, if you’re an engine idler, it might be worth turning off your engine when waiting to pick someone up to conserve fuel. Likewise, avoid revving and make sure you’re using the right gears for the right speeds. Also, keep in mind that slow and gentle acceleration uses less fuel than speeding up quickly. You might also want to use the say nav so you don’t waste precious fuel on getting lost. 

• Get rid of some weight: It’s a simple equation: more weight means more fuel is needed to keep the vehicle moving. It might be time to check out your boot and get rid of those extra bits and bobs you don’t need, all of which could be weighing your car down unnecessarily and therefore costing you more on fuel. 

• Check your tyres: Did you know? The state of your tyres has a significant impact on how much fuel you use. Under-inflated tyres or tyres that have worn tread can mean that your car has to work extra hard to keep moving – in other words, their rolling resistance and therefore how much fuel they use to keep moving will increase. That’s why it’s important to check tyre pressure to ensure tyres are inflated enough, and it’s also why you should replace tyres when their tread depth drops below the legal minimum of 1.6mm. 

• Skimp on air con: On a summer’s day, before automatically reaching for the air conditioning button, think about whether you really need it or whether rolling the windows down will give you the breeze you need. After all, the more you use your air con the more fuel you use. 

• Hunt out the best prices: Different petrol stations will have slightly different prices on fuel – you can even use price comparison sites to contrast different local prices, so you can choose the best place to fill up for less money. 

You’ve discovered how your fuel can take you further, so now let’s find out how to make your car last longer. 

How to make your car last longer

Once you’ve got your car, how do you make it last longer? 

• Carry out your own inspections: Check over your car regularly. This way, you can catch issues before they worsen and become a much bigger problem. Obviously, you’re not an expert, but if you become familiar enough with how your car is supposed to look and operate, then you will pick up on things going amiss much more quickly. You’ll also want to keep your fluids topped up; if they are left to dwindle too much, this can have adverse effects on your vehicle. 

• Cover up: A car exposed to the elements will likely get grubbier and rust more quickly than one that’s covered. So take advantage of your garage, and if you don’t have one, popping a car cover over your vehicle is a simple way to keep these problems at bay. 

• Be tyre smart: Make sure you regularly check your tyre pressure to ensure that your tyres are kept at the right pressure. Also, regularly inspect their quality, looking for wear or cracks — staying familiar with their usual appearance can help you catch problems early.

We hope that you’ve found our handy guide helpful, and we also hope that you go on to enjoy cost-effective car ownership! 

Searching for an affordable autocentre for all your vehicle serving needs? Here at Mr Tyre we’re known for providing a friendly and independent service, which allows us to give honest advice and a cost-effective approach. We stock and fit tyres to suit all makes, models and budgets, perform MOT tests as well as servicing cars, amongst many other things. Discover more about our services at your local branch.