Cutting the Cost of Owning a Car
Passing your driving test is a massive milestone in life, and it gives you such freedom. Now there are no longer any limitations on where you can go and what you can do, and being responsible for yourself is something that makes being able to drive something exciting, and a real privilege. However, that kind of freedom can only come if you are able to afford a car, and be able to afford to run it; they don’t come cheap.
Even after the up-front cost that there is to buying a car, there are additional costs like insurance, tax, and fuel, that will all add up, particularly for a new driver. Owning a car is something that is a real financial commitment, but if you want to make the most of your driving skills, and experience this new freedom as a young adult, then it can be totally worth it.
It always helps to be able to spend a little less on your car, though, right? So with that in mind, here are some of the things that you can do to make the cost of running a car as cheap as possible.
Do your research
There are many things to learn about a car, from the age of the vehicle, to the mileage, and how these things can all play a part in how much a car costs. A used car is the option that a lot of first-time drivers choose, because it helps you to get out on the road, but it won’t be as much of a financial commitment. You should do plenty of research before deciding on a car, and know what things you should be keeping an eye-out, and what things could hike up the prices.
Save on your insurance
Getting insured as a first-time driver can be costly. Put simply, because of your inexperience, you can be much more of a risk, so they charge you more for the privilege. However, there are some things that you can do to make sure that your insurance is cheaper, when you are a brand new driver. To start with, you could take a Pass Plus course, which can reduce the premium, and you could also think about just being a named driver on the insurance, and having a parent with a spotless record be listed as the main driver. Some insurers do have special policies for new drivers or for those under twenty-one, for example, do that is definitely something to think about.
Check out your buying options
There are a few options that you have when you’re choosing a new car. For example, as mentioned above, buying a used car is a common option for a lot of new drivers. It means that the car has already had a bit of wear and tear, and it makes it more affordable for you. You could also think about buying a brand new car if you can afford it, or getting a car on lease.
Take a novated lease, for example. It is a financial arrangement that is tax-effective, that helps you to salary package your car. One of the many advantages of a novated lease is that it could help you to save thousands on the costs of running the car, though you need to have a salary to do it, of course. You could always drive a car like your parents, with their permission and the right insurance, if you’re looking for the most affordable option for a new driver.
Be a more careful driver
Surprise, surprise, insurers don’t want to insure a driver that is a big risk to them. If you even get in one scrape and want to use the insurance, it can hike your premium up by quite a lot, especially as a new driver. It is a good idea to think about driving safely, and even having a ‘black box’ that a lot of insurers issue, which monitors your driving and shows it to the insurers as proof of how you drive.
Not only that though, you can keep the cost of driving down by the way you drive too. If you rev your engine it uses up more fuel, and speeding and then slamming on brakes uses up more as well. Drive in the right gear, and also don’t drive with a full tank, or with your car full of things weighing it down. Always check the tyre pressure on your cars too; it all makes a difference and can save you money.