Owning a car can be an extremely costly commitment. Aside from the initial purchase price of the vehicle, you have to shell out for insurance, road tax, fuel and so much more! Luckily, learning how to cut these costs in order to make it more affordable needn’t be as difficult as you might expect, as there are several simple tips and tricks that you can make the most of to make a real difference in no time at all. So, if you would like to find out more, then read on!

Sourcing A Great Deal

The act of buying a car is usually the most expensive step, as it’s unlikely you’ll be able to source a good quality car for less than a few thousand dollars. Figuring out how you can source a great deal can make a world of difference, helping you to save a whole heap of cash in the process. One of the best ways to find a cheap car is by seeking out a second hand model, as vehicles which have had previous owners can often be as little as half the original factory price after just a few years use. Another option that you can explore to save money when buying a car is part exchange, but this only works if you’re upgrading your old car to a different model. Part exchanging involves selling your car to the dealership from which you are buying a new one, and the total value of your old car can then be directly deducted from the end price of your new one. Visiting a private seller rather than a dealership can also help to cut the cost, as individual sellers aren’t looking to make as much profit as possible like commercial outlets. Approaching a private seller provides you with the opportunity to haggle and offer a lower price than what it’s listed for.

Finding Great Insurance

The cost of insurance is likely to be your next priority, as over a 12 month period the total number can really add up. Luckily insurance comes in many different forms, and you can easily swap your insurance provider without that much hassle. More often than not, the simplest way to cut your insurance cost considerably involves investing in a ‘black box’. This black box attaches to the underneath of your car, and it tracks your speed and driving habits to identify whether you are a good quality driver that follows the rules of the road. If you make a conscious effort to remain within speed limits, your insurance can start to drop! Maintaining a no claims status can further decrease your yearly insurance spend, as this is another indication of s good quality driver. Essentially, the less likely you are to have to use your insurance, the cheaper it’s going to be.

Cutting the cost of owning a car has never been so simple when you take the time to make the most of the tips carefully described above.

Greg Kononenko
Greg Kononenko

My name is Greg Kononenko and I am a full-time online blogger and owner of Dad's Hustle. I'm a dad, and my passion is to help other mums and dads to start their own "hustle" and improve the financial future of their families.

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