It’s widespread knowledge that buying a car will cost a lot of money. But, what a lot of first-time buyers don’t know is that cars come with running costs.
There are plenty of things that add up and make owning a car an expensive issue. Have a read of the information below to find out more, you may be surprised!
Fuel is probably the biggest running cost as it’s ongoing throughout the years. You’ll have to fill your tank up a couple of times per month if you’re doing long journeys. However, if you drive a car that isn’t economical, you may be filling up more frequently.
Similarly, if you drive a lot, every day, you’ll run out of fuel quicker than someone that doesn’t. Fuel costs can put a burden on your finances, but there is a way to reduce them. If you become a more efficient driver, you’ll use less fuel and have to top up your tank way less often.
When you buy a car, it will come with a set of tyres and maybe a spare one too. The more you drive your car, the more these tyres will wear down. And, when the tyres become too worn, you need to replace them. This can cost a lot of money, especially if you do it wrong.
The wrong thing to do would be to buy cheap tyres from an unknown manufacturer. Don’t do this, as you’ll find the tyres wear down even quicker, and you’ll be buying new ones before you know it.
Instead, opt for a respectable brand that will last long. Michelin tyres are well known, and loads of people fit their cars with them because they’re reliable and cost effective. The longer you can make your tyres last, the less money they’ll cost you.
Insurance & Tax
Before you can start driving your car, you need to spend even more money on legal stuff. You must pay for road tax, which has to be done every year. There’s normally a set fee for this, and you have to pay it before a certain date each year. Then, you have to insure your car or else you won’t be able to drive it. Insurance can cover your vehicle in the case of accidents or any issues you may have with it.
Prices will vary depending on the policy you want and your insurance provider. It’s worth noting that you shouldn’t let people drive your car if they aren’t insured by it, even if it’s your mum and dad. Having an uninsured driver drive your vehicle can lead to both legal and financial ramifications.
No matter how reliable and well-built your car is, you still have to pay for servicing. All cars need to be serviced at least once during the year to see if they’re fit for proper use.
You may think your car is fine but a mechanic could find issues with it when you service it. Of course, you’ll then have to pay for any issues or things that need to be fixed. If you have a car that keeps breaking down, you can end up paying through your nose for servicing costs and fixes.
Sometimes, it makes more sense to buy a new car than to keep paying to have stuff fixed!
Unless you want your car to get filthy, you need to have it cleaned now and then. In fact, regularly cleaning is recommended to help your car last longer.
Leave your vehicle dirty and parts can start to rust, which leads to things breaking. And, that will take you to the point of where you’re paying to fix broken parts!
Getting your car cleaned inside and out can be fairly costly, especially when frequently done. If you have time, I highly recommend you clean your car yourself. It can save you lots of money, even if it requires more effort.
And there you have it; these are the main costs of running a car. All of these things probably don’t cost a lot on their own. But, add everything up and you’ll soon have a great deal of money to pay.
If you want my advice, I’d say don’t rush into buying a car as soon as you pass your test. Make sure you have your finances in order and are assured that you’ll be able to afford all the running costs.
Then, go out and buy yourself a car!