Affordable driving habits: How to save money behind the wheel

At a time when we’re all trying to make our money work harder, we can often overlook our cars and driving habits when trying to save some cash.

Research has shown that along with our homes, a car ranks as one of the most expensive purchases that we’ll make in our lifetime, even during an era of leasing and financing. 

However, once you factor in the rising cost of fuel, servicing and unexpected repairs, there’s potential for the costs to spiral. 

There are a host of helpful hacks that you can implement in your daily lives, both short-term and long term to help you save money on the road.

Here are four ways you can reduce your motoring costs.

Consider car leasing over buying

Car leasing makes driving a new car more affordable and cost-effective.

When you lease a car, rather than paying a large upfront fee, you spread the cost over a set duration, typically between 24 and 48 months. The payments you make cover the depreciation costs of the vehicle.

By choosing to pay for your vehicle monthly, you benefit by not tying up large sums of cash into a depreciating asset.

When you take advantage of car lease deals, you can access some of the latest driving technology and safety features that are available for a fraction of the cost.

If you’re a business owner, you could also consider business contract hire terms, where there are numerous tax benefits and perks available for further savings.

Shop around for fuel

We often choose the most convenient locations to fill up at the pump, be that on the way home or to work.

If time is precious, or you’re limited by the number of petrol stations you have locally, this can be the logical thing to do.

However, take the time to shop around for the lowest price. Several iOS and Android apps can show the best prices in your area.  

Supermarkets typically come out on top with the cheapest prices, but the same brand can also offer lower prices just a few miles down the road.

Check your tyre pressures regularly

Not only is it good practice to ensure your tyres are suitably maintained, but you can make huge savings on fuel costs too.

Regularly driving with under-inflated tyres can result in more rolling resistance with the road and therefore a heavier and less efficient driving experience.

Your vehicle handbook should include the recommended PSI for your tyres. 

In your search for the cheapest fuel station, it’s also worth identifying the stations that offer free air so you can avoid paying to have them pumped up.

Go electric and charge at home

Electric vehicles are widely viewed as the future of mobility,and they have the potential to be far more efficient than a combustion engine car. 

Charging at home is the most effective way to power an EV. Regular stops on the public charging network can offer faster charging speeds, but you will pay more for the convenience. 

Most home chargers are 7kW and will supply a full charge overnight when rates are at their lowest and you are least likely to need the vehicle too.

Avoid unnecessary journeys

Sometimes the most obvious answer is the best one. Where possible, avoid unnecessary trips that could be walked or cycled.

We’ve done those last-minute dashes to the shop down the road when you’ve forgotten to buy milk, but those journeys soon add up.

Not only are there undeniable physical and mental benefits that come with regular exercise, but you might find that the time difference is far less than you first anticipated.