Ways To Reduce Your Annual Car Expenses

Owning a car is likely one of your biggest personal expenses. Everything from purchasing the vehicle to keeping it on the road is a drain on your finances and likely always will be. In fact, a recent study from the Australian Automobile Association found that the average Australian family spends up to $22,000 a year on car expenses.

While having a car in Western Australia is generally considered a necessity, there is a range of ways you can reduce your car expenses.

Here are Gino’s five tips for saving money on your annual car expenses.

Save Money On Fuel

While your fuel expenses are generally dictated by market prices and the distance you travel daily, there a couple of steps you can take to minimise your expenditure.

Use fuel comparison apps and websites like FuelWatch to find the cheapest fuel in your location. While it might only look like you’re saving a few cents per litre, you will undeniably notice the difference when filling up an empty tank.

The way you drive and the condition of your car will impact the amount of fuel you use. Driving responsibly and less aggressively is a sure-fire way to increase your fuel mileage.

Lastly, we suggest taking advantage of rewards programs. If you do your grocery shopping at Coles or Woolworths, you can get up to 4c per litre discounted using their rewards cards and bringing in your receipts. Every little bit adds up!

Save On Your Car Insurance Expenses

Car insurance can be a major expense of owning a car, and to go without it is simply too risky.

Websites like Compare The Market let you compare thousands of different products to help you find the best deal for your vehicle. Don’t be afraid to shop around and switch providers if you think you might be paying too much. It also won’t hurt to phone your current provider and discuss ways you can save on your vehicle insurance. Perhaps you can consider making some exclusions or insuring your vehicles at a lower price.

Most providers will be willing to have a conversation with you if it means keeping your business.

Carpooling

While most of us love the independence that comes with driving our cars, carpooling can be a great way to reduce the costs of getting from A to B.

Whether it be to university, work or sporting fixtures, consider travelling with friends. Not only will you save on your annual fuel expenses, you will also be reducing the mileage on your car and retaining its resale value.

It’s also a great way to forge new friendships and reduce carbon emissions.

Save Money On New Car Expenses

Besides buying a home, car purchases are likely the biggest single purchases that most people will make.

Try keeping your car for a little longer. As good as it is to experience that brand-new car feeling, the cost of new cars rises every year, and they do depreciate quickly, meaning you’re constantly losing out on trade-in values.

When the time does come to buy a new car, be patient and take the time to shop around. While it’s easy to get swept up in the first car that grabs your attention, there are a lot of good deals to be had, especially in the current climate.

It goes without saying that smaller cars will cost you less up front and improve your fuel economy. Even better, they will cost you less to insure.

Once you do settle on something, be wary of purchase contracts and service warranties. Many of which aren’t designed with the buyer’s best interests in mind and have limited coverage.

Stay On Top Of Your Car Maintenance

Car servicing might hurt the back pocket, but letting problems amplify can end up costing you far more in the long run.

Stick to your recommended car servicing schedule, whether it be every 6 months or 10,000, whichever comes first. This way, your mechanic will be able to identify problems before they get out of hand. Of course, the unexpected does tend to happen, but regular servicing is a good preventative measure.

If you decide to bring your vehicle to Gino’s, we can check all the boxes necessary, including replacing air filters, oil changes, brake checks, battery checks, tyre pressure checks, fluid top-ups, and more. All of which will ensure your vehicle stays in tip-top condition all year round and is loyal for years to come.

To receive a quote on your next car service, contact our friendly team today. We can walk you through a range of packages and help you find the right option for your price point and vehicle.