For many of us buying and running a car is likely to be the single biggest financial outlay. It’s therefore important to work out just how much it’s going to cost before you jump on the motoring band wagon.
However, calculating the cost of fuel based on the number of miles you’re are likely to cover along with tax, insurance, breakdown and even car finance payments can be a bit of a challenge to say the least.
That said, there is a new solution on the block and it comes in the form of Motor Park’s motoring costs calculator, you can check it out here. Combining data from across the country in order to provide realistic calculations of how much it will cost you to own and run a car every day, the tool enables you to predict how much a particular car will cost you to run, it does this on a daily and annual basis.
Aside from the calculation that the tool returns, it also suggests three ways that you can reduce the cost of motoring. The suggestions are so great we thought we’d list them here:
According to the tool, economical driving can reduce fuel consumption by up to 20%. To get the full benefit you’ll need to avoid speeding, excessive accelerating and avoid using air con. Reducing weight in your car is also likely to benefit fuel consumption, so, remove any luggage or unused items you may have stashed away in the boot.
Buy fuel wisely
It goes without saying that buying fuel at a lower price will save you money, it’s estimated this saving could be as great as 20%.
Choose a car from a low tax/insurance band
Although tax band and insurance group aren’t necessarily going to be the first two things you consider when choosing what car to buy, they are important when looking to cut motoring costs. You could even go for a car that’s exempt from road tax altogether.