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How to Make Owning and Running Your Car More Affordable

by
September 4, 2025

A car can constitute a significant financial burden. There’s the cost of buying it in the first place, as well as a selection of running costs. You’ll need to fuel it, tax it, insure it, and maintain it – all of which can be expensive.

If you’re looking to limit the cost of your vehicle, as all motorists should be, then there are a number of factors you might consider.

Smart Purchasing Decisions

Depreciation is a major source of financial strain for motorists. If you buy a car new, then you can expect a significant chunk of its value to be wiped out after the first year or two of its time on the road.

In most cases, you can avoid this by looking for a vehicle that’s nearly new. The time of year at which you buy matters, too. In August, dealers are often motivated to buy, since they might have old stock that needs to be cleared before new plates roll in.

If you’re looking to limit your spending on finance, but you have a poor credit history, then it’s worth looking at specialised loans. Bad credit car finance can make a given purchase viable – but it can also help to clear up your credit history, and reduce the cost of living more generally in the future.

Reducing Car Insurance Premiums

The amount you’re charged for car insurance will depend on the risk you present to insurers. Insurers will guess at this risk using a variety of (often surprising) metrics. Your age, location, sex, and driving experience will all be taken into account.

Getting your premium down is often a matter of choosing the right vehicle, registering your personal details accurately, and adding experienced drivers (like your parents) to your policy. Shopping around using price comparison websites is also often worthwhile.

Fuel Efficiency Tips

Driving efficiently can limit the amount of fuel you consume, which can drastically lower your bills. Don’t carry unnecessary weight, keep your tyres inflated as a matter of habit, and don’t speed. You can also use apps to help you track down the cheapest petrol in your vicinity. Often, this functionality is built into the best navigation apps. As such, you might already have a means of seeking out the best deals.

Cost-Effective Car Maintenance

If you’re driving long distances and subjecting your vehicle to plenty of wear and tear, then a routine of proactive maintenance can help to keep your long-term costs down. Make sure that you know a reliable local mechanic, and that you take your car in to be serviced regularly. Knowing how to do simple tasks yourself, like changing oil and batteries, can also be worthwhile.