3 Reasons Why Your Car Could Be Driving Down Your Finances
It’s no secret that cars are expensive to run, but could it be that you are paying too much for your motor? Your goal in life should be to save money and not waste it, so consider the following. If any of them do relate to you, you might want to make a few changes.
Are these the reasons why your car is driving down your finances?
1: You are paying a fortune in repair bills
All cars need to spend some time at the garage during their lifetime as occasional repairs need to be made. However, if you’re never away from the garage because of one fault or another, you have to ask yourself this question: Is it time to say goodbye to my car?
With age, all cars will start to develop more faults, regardless of how well they have been looked after. In one sense, they are like human beings in this regard, as we suffer from wear and tear too! It might be wise to purchase a new or used car if your current motor spends more time at the garage than it does on your driveway. With affordable new or used car finance, you can spread the payments, so you don’t have to bankrupt yourself when replacing your car. And besides, no matter how much you spend, a reliable replacement car will always be more cost-effective than an ailing motor.
2: Your driving habits are wasting fuel
Some cars need to be fuelled more regularly, such as bigger in size, so regular top-ups at the fuel tank can be expected if you’re driving a larger vehicle. However, regardless of the size of your car, it might be that your bad driving habits are responsible for your need to fuel up regularly, so take these into account.
When you accelerate or brake aggressively, you burn through fuel. You also use more fuel when you speed up, so remember to stick to speeding limits. If you regularly drive without checking the air pressure in your tyres, you might waste fuel this way too if the tyres are under-inflated. So, curb any bad habits and follow these tips on saving fuel when driving as you will then save money.
3: Your car isn’t eco-friendly
Newer cars are built with emission-reducing technologies that serve to protect the planet. These include new diesel cars as well as electric and hybrid vehicles. For this reason, it might be that it’s time to replace your car if it is a few years old and partly responsible for polluting the planet. It makes financial sense to do so, as greener cars are cheaper to insure, and they don’t cost as much to tax either. If you buy a purely electric vehicle, you currently don’t need to pay any road tax at all.
So, if your insurance premiums are rising year after year, and if it costs a lot to tax your vehicle, then your car is probably at fault. Save money and save the world by upgrading your car to something more eco-friendly.