Australia is a big country and getting around it, whether to work, school or just the shops “round the corner” can be a bit of an ordeal without a car. It’s a fact of Australian life that we need to drive our cars and as commute times and fuel prices continue to increase some of us are feeling the strain at our hip pockets. Thankfully there are many small things you can do to ensure you are minimising these costs as much as possible.
1. Check Your Tyres
One of the simplest ways to save on fuel costs is to keep the tyres of your vehicle at the correct pressure. When your tyres are at the incorrect pressure it can increase fuel costs by up to 10%. Remember that this only needs to be done monthly and when timed with a refuel should take at most 5 minutes to do.
2. Drive Responsibly
Another easy cost saver is to ensure your driving style is a budget-friendly one. Sudden acceleration and deceleration will consume more fuel and your brakes will not last as long if you brake hard and excessively.
3. Maintain Your Car
Keeping on top of your vehicles maintenance schedule can also be a great way to save on car running costs. Identifying small maintenance issues and fixing them as they occur might not seem to be a money saver on the surface, but what may appear to be an inconsequential rattle could turn into a more significant and expensive problem if not rectified when it begins.
4. Rent It Out
One of the newer ways to save on your car running costs is to rent it out when not in use. With various providers now in Australia in the car-sharing space, you have plenty of opportunities to maximise the value of your car. By renting your car out when it would otherwise be locked up in your garage, you have the benefit of both income being generated from your vehicle and the ability to write off a percentage of the value of your car at tax time.
5. Look Out for Bargains
Always be on the look-out for bargains. Buy your car tyres online, provide the mechanic with car parts you have sourced yourself and shop around when it’s time for your car insurance to be renewed. These may only be small savings individually but together over the life of your vehicle add up to some impressive savings.
6. Get A Good Deal On Your Loan
All these ways of keeping your car running costs down are great but easily the best way to save on the costs of owning a car is making sure you get a good deal on your loan. Getting the wrong loan with an uncompetitive rate can really add up over the life of a standard 5 to 7-year car loan. That’s why it’s so important to ensure you speak with the right broker with the knowledge and expertise to get you the right product for your circumstances. If you would like to know how much you could save on your car loan please enquire below.