Four simple money-saving tips for the new year

Four simple money-saving tips for the new year

12/30/2022

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With the cost of living crisis only expected to get worse in the new year, motorists across the UK have been advised to make small changes to their car running routines in order to save money. According to some motoring experts, drivers could save as much as £550 in a year by following the little-known tips.

To help with the raging crisis, experts at Leasing Options have uncovered how making a few changes could make a difference to the annual expenses.

They added that while the annual cost of owning a car comes to £5,744, some changes can knock off as much as £550.

The experts said: “Drivers are encouraged to follow some key steps to reduce their car costs by £550.”

Mike Thompson, Chief Operating Officer at Leasing Options, added: “After a period of skyrocketing fuel prices, the cost of owning a car is once again putting a strain on Brits, especially when combined with the current cost-of-living crisis.

“People across the country are looking for ways to cut costs, no matter how big or small.

“While some savings to be made may be bigger than others, all of our recommendations contribute to the most important task, which is saving money for drivers.”

Increasing fuel efficiency can save drivers over £220 per year

Simple steps such as keeping the tyres properly inflated, reducing the amount drivers drastically break and clearing out unnecessary weight can save up to 18 percent on every tank of fuel. Taking into account that the average annual cost of a tank of petrol stands at £1,272, that’s a saving of over £228.

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Washing the car at home saves over £160

The experts said: “The general rule is to keep your car’s paintwork appearing as new you should wash it every week.

“There’s no question that professional car washes give you that ‘new car’ look we love, but it’s also one of the most expensive ways to maintain your car’s paintwork.

“Washing the car yourself can save over £160, based on the UK’s average car wash price.

“Not only is it cheaper, but drivers can also take the time to pay attention to detail when washing their car, adding waxes and other coatings to keep the paintwork looking brand-new for longer.”

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Shopping around for car insurance and breakdown cover saves £137

Comparing car insurance quotes can save £137 on average, according to Leasing Options.

Insurance providers offer exclusive quotes to new customers, so it’s worth taking the time to look into which will offer drivers the best deal.

Better yet, motorists can go back to their current provider to see if they can match or beat that exclusive quote.

Performing car maintenance saves £42 per year

Car maintenance seems daunting at first but if drivers are willing to get their hands dirty, there are numerous small maintenance tasks they can perform to avoid a costly trip to the garage.

Tasks such as changing windscreen wipers, replacing an air filter and fixing new headlight bulbs are all easily done without leaving the driveway.

Doing just these maintenance tasks at home instead of in a mechanic’s garage would save £78 per year.

If motorists are not feeling confident doing the work themselves, they can ask a competent friend/family member to perform the maintenance or take their car to a trusted local garage to avoid any damage to their car.

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