With many Brits looking to get their finances in order this year, there’s never been a better time to cut spending on one of Britain’s biggest wallet-burners – the car.
According to nerd wallet, the average Briton spends £3,406.80 on their car every year.
This means that a person with an average UK salary spends over 13 per cent of their total income on their car.
Helping motorists cut costs, car dealership Peter Wardy has revealed seven changes you can make to save £1,400.42 this year:
1: Add one more person to your policy – save £426 every year.
If you’re new to driving, naming a parent on your policy can reduce your annual coverage by hundreds.
Research conducted by Uswitch shows that you can save an average of £426 simply by naming a parent on your policy.
2: Avoid paying for premium fuel for standard cars – save £179.14 a year.
Dealers often claim that premium fuel offers performance and economy benefits and can even protect your engine.
In reality, you’re unlikely to see many improvements unless you drive a high-performance vehicle – but you’ll pay an average of 10p more per liter. Sticking to the unleaded standard can save motorists £138.32 a year.
3: Haggling can save you money on car insurance, roadside assistance and when buying a car.
Haggling is an underrated art form and a forum ahead Money Saving Expert revealed a £100 saving from RAC by haggling your extension coverage. According to Money Saving Expert, motorists who negotiated their coverage with AA, Admiral and RAC all have an 80 percent success rate in reducing their premium.
4: If you fill up in a supermarket garage you can save £74.10.
As a rule, petrol stations from supermarkets are cheaper for the fuel compared to branded garages. Filling up your car in a supermarket garage can save you £74.10 a year.
5: Save £574 a year by doing your own car maintenance checks.
By doing your own regular car maintenance checks, identifying standard wear and tear, and fixing it before it becomes a problem, you can avoid paying the average annual repair cost of £574.
6: Fuel cashback credit cards can save you £53 a year.
When you buy your petrol or diesel with a cashback credit card (like Santander’s 123 account), you get three percent cashback on every tank of fuel. Filling up your car every two weeks saves you £52.68 all year round!
7. Paying your road tax annually instead of monthly saves you up to £29.
While it may be easier to spread the cost of road tax, it costs more in the long run. If you save in one lump sum until you pay, you can save £29 a year.
To view the full report, click here.
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