Wondering how to reduce costs?
Look no further than these top tips on how to save money – because every penny counts!
1. Get 5% Cashback when Purchasing Fuel
Some companies like American Express and Tesco provide a cashback option, if you purchase fuel with your debit/credit card.
The offers tend to be for limited times only but look around and see what’s available. 5% seems small but adds up in the long run.
2. Use Economical Tyres
When buying new tyres, remember that cheap tyres won’t last as long and will have a negative impact on the handling of the car.
One way to purchase the right tyres is by checking the EU Tyre Label, which gives you the fuel efficiency rating – ‘A’ being the highest, ‘G’ being the lowest.
The higher the rating, the less fuel is used up; whilst the lower the rating, the higher the consumption of fuel.
Higher-rated tyres are usually labelled as ‘eco’ or ‘energy saver’ tyres and can reduce your yearly fuel bill by as much as £50.
3. Is Premium Fuel Worth It?
Unless you’re driving a performance vehicle, you’re unlikely to see any improvement when using premium fuel (those listed with a higher octane (petrol) or cetane (diesel) rating).
Experiment with premium fuel and observe the mileage you can get out of it. If the mileage increases when using premium fuel, it’s worth sticking with.
Experiment with premium fuel & observe the mileage you can get out of it. If the mileage increases when using premium fuel, it’s worth sticking with.
4. Press Accelerate at the Right Time
In the past, you needed to use a little gas to get the car running.
However, modern engine electronics control the process of starting the car.
Pressing the accelerator when starting the car not only wastes fuel but increases the risk of damaging your car engine, which will increase costs further.
5. Drive Gently during Cold Weather
Your car will run at a low efficiency during cold weather. Because of this, it’s not worth trying to drive quickly from the get-go; you’ll only waste fuel in the process.
6. Check your Tyre Pressures
If your tyres are under inflated, you can use up to 6% more fuel over the year.
You can check the PSI (Pounds per Square Inch) rating of your tyres at a filling station or find out yourself if you have an electric pump. Ideally your tyre pressure should be between 30 and 35 PSI.
This will increase your MPG (miles-per-gallon) usage, meaning you get more value for your money – you can save up to £65 a year by keeping your tyres at the right PSI level.
7. Look Out for Cheap Fuel
Cheaper fuel can save you pennies by the litre, which in the long term can save you over £100 over 12 months – a fair amount of money to be stored away or used to improve your car!
Keep a mental note of the petrol stations in your area, checking the current prices per litre. Likewise, supermarkets can help you save money with fuel retailer loyalty cards, which reward you with points every time you fill up. With enough points, you can exchange them for petrol vouchers.
8. Petrol versus Diesel
Diesel-fuelled cars can work out cheaper for you in the long term if you drive an average of 10,000 miles per year; if not, then petrol-fuelled cars are probably best, especially for trips of a short distance.
Overall, diesel is not much cheaper than petrol; it’s no longer the case that diesel fuel is more economical than petrol with the arrival of highly efficient modern petrol engines.
All of this is important to consider if you’re looking to buy or rent a new car in the future.
9. Take an Advanced Driving Course
Advanced driving courses will teach you how to use your more efficiently – there are many bad driving habits out there and most drivers are not aware of them. These types of courses can also bring down the premiums on your annual car insurance policy.
10. Reduce your Car Insurance
You should always consider the factors that influence insurance costs. The type of car, where you live, where the car is kept overnight, your age, driving experience and your history of claims all play a part.
Some of these factors cannot be changed, but you can adapt; storing your car in a garage or reducing the number of miles you drive can all contribute towards a lower quote, for example.
Additionally, whenever you’re given an auto renewal quote, call your insurer and see if you can persuade them to reduce it; have a look at other insurance providers to see how much your quote compares and if cheaper options are available, present it to them.