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Buying a new or used car? 4 ways to keep your running costs down

If you are in the process of buying a new car, you have probably already considered how much it is likely to cost each month to run, but you might not have realized that there are various ways to bring those costs down and minimize your outgoings.

If you are interested in finding out more, read on. Here are 4 ways to keep your car running costs down.

Save money on your car insurance

You may have a preferred insurance provider, but shopping around could save you massive amounts where car insurance is concerned. The quickest and easiest way to find out the premiums and cover available to you is to use a comparison site. Not only could you save yourself a fortune, but your details will usually be held for future use so you can do the same thing each year with a minimum amount of effort.

Another great way to save money on car insurance is to use a cashback site. Many will pay a lump sum for new car insurance policies, so have a look and see what’s on offer.

Consider an extended vehicle warranty

One of the biggest outlays you may encounter is when something goes wrong with your vehicle. An extended warranty covers you for various problems once your manufacturer’s guarantee has lapsed, so – depending on the issues you encounter – you could save yourself a fortune in the long run.

It’s important to note that third-party warranty providers offer different levels of cover depending on the make, model, age, and mileage of your vehicle. For example, cover in terms of a Lexus extended warranty varies substantially between third-party providers, so it’s always worth spending a little time comparing the available packages before going ahead.

Shop around for fuel

Fuel prices are at an all-time high just now, so it makes more sense than ever to shop around before filling up. If you aren’t sure which outlets are the cheapest, there are several apps that you can download which will give you a list of nearby petrol stations together with the current price per gallon.

If you don’t drive very often, consider filling your vehicle with half a tank of petrol at a time. The fuller it is, the more weight your vehicle will be carrying and the more fuel you will burn.

Only use your car when it’s essential

A great way to save money on running costs is to stop using your vehicle as often! If there are journeys you can do on foot instead, then why not do so? Not only will you save money but walking is far better for your health and the environment.

Another great option, if logistically feasible, is to car share. Many people do this with work colleagues, while many parents take turns to do the school run each day. Car sharing is a great way to split the cost of regular journeys and may make trips in the car far more enjoyable too!

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