There is no denying the convenience of having your own car, especially when you have kids. But another indisputable fact is that cars are expensive. A recent study by CarMoney estimated that Brits spend an average of £2,835 per year on car-related costs, excluding the cost of the car itself, as reported by Top Gear.
Car maintenance costs will always have to be factored into your budget, but that doesn't mean you need to spend more than necessary. In this guide, we are sharing five tips to help you save money on the maintenance and repairs that keep your car on the road.
1. Keep Up With Regular Car Servicing
Committing to regular servicing can feel somewhat counterintuitive if you are trying to avoid spending money on your car. But can help you save money in the long run by avoiding unexpected repairs.
Routine maintenance will detect issues before they become expensive breakdowns, meaning it generally helps you keep costs down throughout the ownership of your car.
2. Do Not Ignore Warning Lights or Strange Noises
We can all relate to blocking out an unusual noise or an engine warning light, because ignorance is bliss... well, until it isn't. When you choose to ignore potential problems, they may escalate into something serious (and seriously expensive) that you have no choice but to address.
In this scenario, it is always best to act quickly rather than waiting it out. Get your car to a trusted local garage ASAP – even if you are hit with unexpected expenses for a small repair, it will typically cost less than fixing something major later down the line.
3. Compare Quotes From Multiple Garages
Whether your car is visiting the garage for regular maintenance or major repairs, one money-saving tip you should always follow is to compare quotes from multiple garages.
Quotes vary from one garage to the next, and even a trustworthy mechanic may overcharge you compared to the typical rate in your area. Get quotes from at least three garages and compare the total cost before you commit to one.
Read more: Buying vs Leasing a Car
4. Learn Some Basic DIY Checks
If you don't know much about your car and how it runs, you are less likely to know when something is not right. Plus, you may not follow the simple maintenance practices that can potentially save your car from experiencing minor issues that escalate.
Checking your oil, tyre pressure, brake fluid and coolant are only small tasks, but they can help you improve fuel efficiency and keep your car safe on the road. Refer to your owner's manual to learn how to do this. You do not need to be an expert mechanic!
5. Plan for MOT and Annual Costs
Finally, budgeting might not help you save money on your car’s MOT and other unavoidable spending, like car insurance, tax and so on. But it will help you avoid any last-minute financial stress because you already have the money ready to use in advance.
The smart way to budget for your car maintenance is by putting aside money into a savings pot once a month. This breaks bigger expenses down into manageable chunks and prevents the financial strain of having to scrape together everything you need in a single month.
