MotorEasy Money Saving Guide
In these times of rising inflation and rumours of further tax increases, households are tightening their belts. One place where they’re trying to find an extra notch is their car, an essential item but one that even without turning a wheel costs money. But short of driving less, what can you do to reduce your motoring expenditure?
Lots, fortunately. The motoring market is a fiercely competitive place. Fuel retailers, garages, tyre fitters, insurers… they’re all fighting for a share of your motoring pound. Shopping around, playing one off another and threatening to take your business elsewhere are just a few of the techniques that can save you money. That said, spending some money might actually save you some in the long run… We explain why and reveal the best money-saving tips.
Drive efficiently
Driving smoothly and sticking to speed limits can reduce your car’s fuel consumption by up to 60%. Those who routinely break the motorway speed limit might not if they knew that driving at 80mph uses 25% more fuel than driving at 70mph. Meanwhile, if you’re not using it, remove that ugly roof rack and reduce your car’s fuel consumption by up to 15%.
Use a petrol price finder
Fuel prices may have fallen but if you just fill up without checking prices, you may be paying more than you have to. Especially if you’re filling up locally, check a website such as PetrolPrices.com for the cheapest in your area but driving too far may undo any saving. When driving farther, use expensive motorway service stations only for an emergency top-up.
Fill up with E10 regular unleaded petrol
With E10 petrol being around 13% cheaper than E5 super unleaded, choosing the former is an obvious way to save money. The number refers to the percentage of vegetable-derived bioethanol each fuel contains. This ingredient absorbs water and critics say that used in older cars, E10 can corrode engines and damage seals and fuel systems. Fortunately, all cars registered in the UK since 2011 can use E10 without suffering these problems. For older, incompatible cars, E5 is best used. Use the government’s E10 checker tool to check your car’s suitability.
E10 has a lower energy density than E5 and even if it is compatible with your car’s engine, it may make it slightly less economical. Fortunately, a more efficient driving style will easily compensate. The industry insists performance between the two fuels is no different.
Shop around for tyres
With the average premium tyre costing around £125, it pays to get as much life out of one as possible. Incorrect pressures, faulty tracking from striking a kerb or pothole, hard acceleration and braking and fast cornering all hasten tyre wear. However, when the tyre does eventually reach the legal limit (1.6mm across the central three-quarters of the tyre) you must change it, but what to buy: budget, mid-price or premium?
Since we’re trying to avoid false economies, we recommend either mid-range for a reasonable balance of price, performance and longevity or premium for the best performance and longevity. In fact, shopping around may get you a premium tyre for mid-range money. Before heading straight to your local fitter, ring around for quotes and try online suppliers such as MotorEasy Tyres.
Meanwhile, if your tyre has a puncture that is less than 6mm in diameter, is within the central three-quarters of the tread and the tyre sidewall is undamaged, it may be possible to have it repaired. Expect to pay around £20 or take out MotorEasy tyre insurance which, among other eventualities, covers punctures.
Claim for pothole damage
One of motorist’s biggest unbudgeted costs is repairing tyre, wheel or suspension damage caused by potholes. The good news is, you can claim on the council responsible for the road; the bad news is, many claims are rejected, often on the grounds that the council didn’t know the pothole existed (this is why, when you see a large pothole, you should report it on the government’s pothole website). The result is that almost 85% of drivers foot the repair bill themselves.
For your claim to stand a chance, gather as much evidence as you can of the pothole: pictures, measurements (it usually needs to be more than 40mm deep) and details of its location plus the date and time the damage occurred. To protect yourself from future pothole expenses, consider insuring your tyres and alloy wheels with a MotorEasy policy.
Park smart
With councils increasing parking charges and more of them moving to app-based charging such as RingGo with their additional convenience charge (around 20p plus, if you opt for them, text confirmations and reminders each costing 10p), it may be time to consider alternative arrangements. One, of course, is to use a car park that takes contactless payments or, if one still exists, coins. Another is to use the JustPark app to find cheaper private parking.
Shop around for car insurance
Despite rising premiums, it’s never been easier to save money on your car insurance. Rather than accept your motor insurer’s renewal quote, challenge them to improve it by threatening to leave. However, be careful they don’t reduce your cover or increase your excess to achieve your desired premium. If you’re still not happy, shop around. For example, by comparing quotes from 120+ providers, MotorEasy Insurance can save motorists an average of £515 on their insurance.
When comparing quotes with your existing policy, make sure they’re offering the same level of cover, excesses and extras. Ways to reduce your premium include not over-estimating your annual mileage, adding another driver (ideally older and with a clean licence) and fitting an additional security device.
Shop around for servicing
Garage servicing has never been cheap but MotorEasy can save you up to 40% on servicing thanks to its garage finder, approvals and management service that saves you money, hassle and time.
Meanwhile, some garages offer annual servicing plans that are often cheaper than paying as you go and which allow you to pay for servicing, interest free, in instalments. A two-year servicing package deal will protect you from any price rises, too.
Look after your car
As they say, look after your car and it will look after you. Ensuring it’s serviced regularly should mean any problems are flagged before they become serious and expensive. However, cars can still fail without warning so to protect yourself from unexpected repair bills, consider covering your car with a good mechanical warranty such as that offered by MotorEasy. If you’re not sure how unreliable your car is likely to be, check MotorEasy’s Reliability Index.
