5 Great Ways to Save Money on Your Car

3 Minutes Read

Cars are expensive things. Whether it’s buying them, getting insured or maintaining them. All year round they are costing us money so its good to know how we can save money. 

Here are PiggyBank’s top tips for saving money on your car:

  1. Switch your car insurance. When your car insurance is up for renewal, do a little research on a comparison site to see if you can get your car insurance cheaper. Money Supermarket and Compare The Market will search hundreds of deals. You never know you might end up saving hundreds of pounds
  2. Pump up your tyres. A new set of tyres could cost you up to £500.  That is why it’s important to check your tyres pressure every few months. By keeping your tyres inflated, your car will use less fuel. If you are unsure of this check out some youtube videos to help you out. If you need a new set of tyres, you could get a £500 loan from PiggyBank.
  3. Drive the speed limit. Boring but safe and also a money saver. By driving the speed limit you are using fewer revs and this will save you money and means you will be a safer driver.
  4. Drive less. This sounds silly but there is some sense to driving less. Not driving to your local shop and walking or riding a bike will save you money because every time you start the engine it uses more fuel. It also means you will get a bit of exercise done at the same time.
  5. CarShare.  Possibly one of the most underrated options and best ways to save money. Car sharing with at least one more person can save you a small fortune on fuel in some cases you could end up paying less than half of what you were paying on your journey to work every week.

If you’re looking to get a new car and don’t want to pay too much in interest, a car loan may be the right option for you. The biggest benefit of buying a car outright with a loan rather than financing is the interest you pay is considerably less. With PiggyBank, you can get a £1000 loan to put towards a car and pick a repayment plan that works for you.