My Dream Car

The cost of keeping a car on the road increases every year. With the way the economy is just now everyone is looking to save whatever money they can. There are some steps you can take to reduce the running costs of your car and we will discuss them here.

Depreciation:

It is a known fact that as soon as you purchase a new car it loses some of its value. If you make a wrong choice your car will not stop depreciating until it is worth virtually nothing. Different models depreciate at different rates the first three years (around 13-15%) is usually when they depreciate the fastest and around 6-9% after that. There are ways to reduce the depreciation costs:

Buy a second hand car:

This may seem a bit silly but second hand cars depreciate at a slower rate than a new car. Some second hand cars still have their warranty which is a bonus.

Negotiate when buying a car:

Buy an end of year model . The dealers are looking to make space for the new models arriving and this is a good time to negotiate a good price for your car. It does not make any difference to the depreciation but as you have paid less for the car t is not so noticeable.

Buy a car that holds value better:

There are some make of cars that hold their value better than others. This is very often due to the quality of the model. Reliable cars will generally depreciate slower. If that is the case with your car then your car costs will be reduced.

Fuel Type:

The running costs of your car can be affected by the fuel that you use. While diesel is a little bit more expensive, it has been shown to be more economical and have superior performance than petrol.

LPG is around cost about 50 less than diesel and petrol and despite using 20% more for the same distance it works out cheaper. The cost of converting to LPG is relatively high so you will need to calculate if it is worth the outlay. This type of fuel is ideal for the traveling salesman.

Servicing

Servicing can be costly but it does not need be. If you find a good mechanic the cost of a service will be worth it. There are many mechanics who know most people have no idea about how a car works and they take advantage of that, charging ridiculous fees for a service. Shop around until you find a good mechanic and you can keep returning to him. There are some things you can do yourself that will further reduce your running costs such as changing light bulbs and the battery. These are just some of the ways you can reduce the running costs of you car. I hope it has been helpful.