Car Running Costs up 19%

The credit crunch means that many people are reevaluating their outgoings, and many may be shocked to know that the annual running costs for an average family car have now soared to £2,435, this represents a 19% increase since 2007.

This may mean that more families will struggle to manage their debt as, according to the RAC Cost Index, average car running costs have seen a year-on-year increase of £277. Average weekly costs are now at the equivalent of £47 a week or 20.3p a mile.

Although many people rely on their vehicles, 36% of drivers are considering buying a car which will be cheaper to run than their present model in order to cut back on their future car running costs.

car running costs

Adrian Tink, the RAC motoring strategist commented: “With the credit crunch hitting motorists hard in their pocket, we encourage UK drivers now more than ever to take all potential financial implications of car running costs into account to better manage their budgets.”

3 Ways to Reduce Car Running Costs

If you are looking for simple ways to save money, then these following tips should help you reduce your car running costs:

1: Shop Around for Extras.

All motorists will buy additional extras such as screen wash, light bulbs and even those tree-shaped car air fresheners, and the easiest way to reduce your spend in this area is to shop around for cheaper versions.

Typically petrol stations tend to be the most expensive place to buy there items from. Try to shop at car accessory specialists or supermarkets.

2: Avoid Main Dealers.

Main dealers always tend to be more expensive then your local-independent garage, as their labour costs are generally higher and they are more likely to fit manufacturers’ own parts, instead of cheaper generic equivalents.

Check with your friends and family for local dealers whom they recommend.

3: Search the Internet.

The internet is a great resource for many aspects, and you can use this as a starting point to save yourself lots of money when it comes to your car running costs, such as:

  • Cheaper Car Insurance – If you are a young driver or have a low no claims bonus, then shopping around for cheaper car insurance could really save you money in the long run.
    Once your renewal quote has come through, search the market for a like-to-like comparison. Get in touch with your current insurer and see if they will price match, or go with the cheaper company.
  • Solving Car Problems – If you car is playing up then it might be worth to check out an online forum to see if other people have had a similar problem. If you know the problem then you could save your mechanic time and your money in trying to locate the problem.
  • Reduce Your Petrol Costs – Visit this link to discover how to to reduce your petrol costs. Saving money on petrol can really begin to reduce your car running costs.