How to lower your car running costs in 2022
How to lower your car running costs in 2022
We are currently experiencing an unprecedented rise in living costs in the UK. Inflation is rising rapidly, and we are feeling the effects of the current energy crisis, which is seeing our energy bills rise dramatically. And with fuel prices set to continue to rise, it is clear that we all need to take steps to reduce our outgoings as much as possible.
When you start to examine your financial outgoings, one area that you should look at is your car running costs.
At Dace Motor Group, we have built our reputation on offering honest advice to our customers for over 30 years. We’ve worked with generations of customers, helping them find the right used car for their budgets. It’s important to us that we continue to provide support to motorists across Stockport and the Greater Manchester region, which is why we are sharing our advice on how you can reduce your car running costs in 2022.
Changing your car could lower your car running costs
This may seem like an oxymoron – after all, if you’re trying to save money, then buying another second-hand car may seem like a silly decision.
But there are two valid reasons why upgrading to a newer model could save you money in the long run.
Firstly, newer models have better engineering and more economical technologies. It may be tempting to stick with an old car, but you will likely spend more on fuel costs, car tax, and maintenance. In addition, your servicing and MOT bills may be much higher, and you could find that as it gets older, your car running costs are increasing. With newer cars, you could find that you are getting more mileage to the gallon (therefore reducing your fuel costs), or you could take advantage of newer, more environmentally friendly technologies.
Currently, private vehicles are not part of the Manchester Clean Air Zone, but as we’ve seen in London, this could change. Motorists driving high emission vehicles could find that they have to pay a daily charge to travel in certain zones in the future.
Secondly, the global shortage of semi-conductor chips means that car manufacturers are struggling to make new cars. This shortage means that many second-hand cars have surprisingly risen in value over the past year. As a result, now is a great time to trade in your used car and upgrade to a newer model.
Click here to browse through our cars which you could part exchange your current car for:
Working from home is an easy way to reduce your car costs
Motorists around Greater Manchester have long been heavy commuters. We are used to driving the length of the M60 to go to work. But with home working now here to stay, many of us are now left with high-performance vehicles that are simply sitting on our driveways, potentially depreciating in value. With second-hand cars at their highest ever trade-in value, now could be the perfect time to look at whether you still have the right car for your changing lifestyle.
Working from home is also an effective way to reduce your fuel costs. It makes sense that your fuel costs will reduce significantly if you are driving fewer miles. Even working from home one or two days a week could be enough to significantly change the amount of money that you are spending on fuel. With the average full tank of petrol costing approx. £67, this could add up to significant savings over several months.
Don’t forget to let your insurance company know if your mileage has dropped significantly – those with lower annual mileage may benefit from cheaper insurance policies.
Electric cars are cheaper to run than petrol or diesel cars
Fuel prices will continue to rise this year, so now is potentially a good time to make the switch to an electric or hybrid car.
While the upfront costs may seem higher, the volume of second-hand electric cars is rapidly increasing, giving you more choice than ever before.
Electric or hybrid cars are cheaper to run than petrol or diesel cars because they have the latest innovative technologies. As they are newer models and have zero emissions, they will not be subject to road tax payments and will be exempt from congestion charges. And even with rising electric bills, the costs of recharging your electric vehicle will be much lower than the cost of a full tank of petrol or diesel.
If you have any questions about the running costs of an electric or hybrid car compared to a petrol or diesel car, please speak to a member of our sales team. We know that drivers have many questions about electric cars, and we’re always happy to answer any queries that you may have.
Prepare for your servicing costs
One of the biggest expenditures of your car running costs is your annual MOT and service. We always recommend shopping around with different garages. Independent garages will likely charge much less than bigger firms.
It’s good practice to conduct some pre-MOT tests before you take your car into the garage. Have a look at your lights to check for any faulty bulbs or see if your windscreen wipers are working correctly. You should also check your oil levels to make sure that your car is working correctly. These checks may seem small, but they will increase your chances of your car passing the MOT for another year. The more you maintain your car, the less likely you will be affected by unexpected breakdown costs.
Regularly review your car insurance policy
Another easy way to reduce your car running costs is to check your insurance policy each year. Your insurance provider will have to let you know if you are on their cheapest deal, but you could find that you can find a better deal by shopping around.
You could also lower your car insurance further by using cashback sites such as Quidco or Topcashback. You may be surprised to realise how much cashback you could be eligible for.
Our dedicated financing teams are here to help
When budgets are tight, we know that you need to feel confident that investing in a second-hand car will be a cost-effective decision. That’s why each of our four dealership locations has a dedicated in-house financing team who can discuss the options with you.
We can look at your budget and help you identify what you can afford. For example, if you’ve seen a used car that suits your needs, we can factor in any part-exchange discounts from your current car and calculate any potential reductions in your car running costs.
If you do not have the funds to pay for your car outright, we work with a network of lenders across the UK. We can arrange competitive financing payments that allow you to spread your repayments over several years. We can even help you balance the repayments vs. your current car running costs to enable you to see any cost savings.
If you would like to speak to a member of our team to find out how you can lower your car running costs in 2022, please visit one of our four dealership locations. You can find us on Greg Street in Reddish, Buxton Road in Stockport, Manchester Road in Stockport, and Liverpool Road in Eccles