The Hidden Costs of Driving & How to Minimize Them

It’s no secret that car ownership can be an incredibly expensive experience. The most obvious and indeed substantial contributor to the financial drain of driving is of course the car itself; there’s no getting around the fact that a ton of machinery is going to put a dent in your bank balance. In addition to the cost of the vehicle a driver also has to pay out for car insurance, repairs and fuel…making for an altogether cash draining experience. Although all of these outgoings are compulsory, thankfully there are ways to minimize their impact on your finances without compromising on quality or safety.

In terms of the actual car purchase; the Internet is a godsend when it comes to establishing which model is most suitable for you, what you can expect to pay and also which sellers will offer greater value for your money. If you require financing in order to buy a car then there are numerous online sources available to point you in the direction of the most suitable finance package for your circumstances. By sourcing the best value car and the best value car loans, you’re doing the most you can to reduce the initial outlay of vehicle ownership. Next up is reducing outlay on the related essentials.

Maintenance

Maintenance of your car can be costly if you’re purchasing a used car. Before buying any used car you should check the interior, exterior and under the hood for potential problems. Always check that the Vehicle Identification Number (VIN) in the car matches that stated in the handbook. Also, check that the mileage on the odometer is the same as advertised. Some sellers lie about mileage in advertisements to attract buyers and sell the car at a higher price. Checking mileage is incredibly important, as the higher the mileage the further the value of the car decreases. If you’re unsure on how to analyze the state of a used car try to take someone who has previous buying experience to help you identify potential issues with the car.

Online & Over the Phone

Online comparison sites will provide side by side insurance quotes from various lenders making it easy to choose the policy which offers best value. Don’t however leave it there: contact lenders who don’t utilize comparison sites and inform them of the best deal you’ve found online and you may well grab an even better deal over the phone. Staying on top of relevant promotions at supermarkets who also run gas stations is a sure fire way to cut fuel expenditure from time to time, and even repair costs can be kept to a minimum by keeping an eye out for promotional deals offered by garages who operate as part of national chains.

Tickets, Parking Fines & Convictions

Less obvious but potentially even more costly than these commonly acknowledged vehicular expenses are the charges associated with motoring offences. Parking fines and speeding fines can demand substantial sums and severe offences or repeat traffic misdemeanors could well incur more than simply financial penalties. In order to ensure that you keep your license or avoid hefty fines it is advisable to seek the advice of expert motoring offence solicitors if facing a conviction. It is usually free to receive an opinion as to the best legal course of action and all fees should be outlined before you agree to take on their services.

By using common sense and relevant online resources it is possible to lessen the financial burden of driving – the single best money saving tip however is to ensure that you stay fully within the law when on the road.

Written by Daniel Travis Brown, an avid writer of articles and scripts; follow him on Twitter: @DanTravisBrown.