Owning a car can be a significant expense with a chunk of your monthly income going towards keeping it on the road. As much as it would be lovely to walk everywhere, this isn’t always possible. For many families, a car is more than just a set of wheels. Your car is a place where adventures happen, a place to feel excited about travelling to somewhere new. It is a place where spontaneous singalongs to the radio happen, and where weary little ones fall asleep in their car seats at the end of a fun day out.
If you are looking to change your car, you may feel concerned about parting with a significant amount of money. With this in mind, read on to find out how to save yourself some money and get those new wheels rolling:
Beware of False Economy
Ever heard the phrase ‘buy cheap, buy twice?’ If so, then keep in mind that this also applies to cars. Spending money on a cheap vehicle that a friend of a friend is selling, may seem like you are getting yourself a bargain. Sadly, this is not usually the case. Unfortunately, people aren’t always honest when selling cars, and when you buy from a private seller, it can be hard to get your money back if problems arise.
A cheap car from a private seller may seem like a bargain at the time, but if it only lasts you a few months before expensive repairs are needed, then it is a false economy.
Buying a brand new car can bring its problems. When depreciation comes into play, you could find yourself taking a hit on the value of the vehicle as it drops pretty quickly. This is the reason that many people choose to make a saving and purchase quality used cars from dealerships such as Trade Price Cars so that they can buy a reliable pre-owned vehicle.
Consider Running Costs
When changing your car, you have an excellent opportunity to save money on your monthly outgoings. Choosing a model that has cheaper running costs than your previous vehicle will soon mean that you will see the savings adding up.
Do some research into family cars that have low insurance premiums and cheap road tax and compare them to how much you pay on your current vehicle. You will probably be pleasantly surprised by the savings that you can make. The same principle applies to fuel consumption. It is always a great idea to research fuel efficiency when choosing a car. This is because fuel is something that you will need to buy regularly, and you will want to make sure that you select the most efficient vehicle so that you can make more significant savings on your running costs.
Why not track the money that you save on car insurance, tax and fuel and then set it aside? This is a great way to save up for a special treat or day out for everyone to enjoy.