Money Saving Advice For All Car Owners - Compare The Market

Money Saving Advice For All Car Owners

 
 
 
 
 

As anyone who has ever owned a car can attest, cars are expensive, not only in upfront purchasing costs but in running and maintenance costs as well. But, for most of us, owning a car is a necessary ‘luxury’. We need a vehicle to get us to, from and through our lives. With this in mind, we’ve compiled some handy hints to help you save not only on the purchase price of your next vehicle but on the running costs as well!

Buying Your Next Car

Change Your Mindset

Your car is a depreciating asset, so think about purchasing a sustainable vehicle that will help get you from A to B safely and comfortably. Check out ANCAP safety ratings to guide you through your purchases. While pimping out your car is nice, if you want to save money it’s probably not a good idea.

Do Your Research

Research your car options carefully and extensively – knowledge is leverage. The more you know about what you want and need, the less likely you are to be bamboozled by car salesmen. Try our handy tips on Choosing the Right Car for Your Lifestyle. Make sure you research maintenance costs on the car you are considering; some cars (like European and other luxury makes) are more expensive to repair and maintain, which will cost you more over the life the of the vehicle.

Perfect Your Timing

Understand the market. Are cars flying off the lot or are sales slumped? Slower sales may mean you have more negotiating power. Sales staff work to targets, which loom at the end of each month. As target deadlines approach, sales staff are often more willing to sharpen their pencils as sales volume is often as important as sales value. Pay attention to the time of year too; heavy discounts may be available at the end of financial year and the end of calendar year.

Shop Around

Chances are that the car you want is sold by several different dealerships. Compare their prices and get online to compare prices nationally. This will give you a good idea of average prices in your area and neighbouring states.

Consider Second Hand/Used Vehicles

As discussed earlier, cars depreciate in value aggressively after purchase; you may find the best deal for you on a used vehicle. Ex-fleet and ex-dealer vehicles usually have strong maintenance histories and sometimes low kilometres but don’t discount private sales. People’s circumstances change – they start a family, they move, they retire and their vehicle no longer suits their needs. If you are buying privately, make sure you check ownership histories, maintenance log books and investigate whether the vehicle has been involved in any accidents.

Looking After Your Car

Insurance

Not only is a minimum level of insurance mandatory in Australia, but car insurance can protect your hip pocket if you’re involved in car-related incident or accident. Imagine forking out thousands of dollars for car and other property repairs from your savings. Shop around and compare the policies that best suit your needs and budget.

Maintenance

Regular maintenance is key to keeping your car safe and roadworthy for many years to come. Take your car to a certified mechanic for all major/manufacturer indicated checkups however, there are some small things you can do yourself to keep your car in pristine condition like vacuum and wash it regularly, clean out the air filter, check the oil, top up the windshield wiper fluid and check the tyre pressure.

Fuel

Fuel is the most expensive ongoing cost for using your new vehicle so be fuel efficient. How to do this when fuel is so high? We’ve put together a whole post on Tricks of the Trade for a Fuel Efficient Lifestyle, which outlines helpful tips such as choosing the right fuel for your car, reduce driving aggressively, and reduce excess weight in your car- check it out!

Parking

Parking can be expensive. Compare car parks and see who offers the better prices. You may need to park a bit further away from your destination but everyone can use a little extra exercise! If parking is a significant expense where you live, consider taking public transport and leaving your car at home a few days a week.

With a little bit of effort, research and knowledge, you’ll be able to save when purchasing and running your new car. Happy driving!

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Author comparethemarket.com.au

Launched in September of 2012, Comparethemarket.com.au – operated by Compare the Market Pty Ltd (CTM) – has teamed up with a range of Australia’s insurance providers so you can compare some of the latest deals, in one place, side-by-side. The team behind comparethemarket.com.au have experience in insurance, comparison, customer service and digital. If this was a stuffy corporate monologue, we’d tell you that we’re a bunch of subject matter experts specialising in User Experience, Customer Insights & Online Strategies. But to be honest, it’s just as accurate (and a whole lot easier) to say that we’re a bunch of people who want to make your experience with online comparison better. We pride ourselves on the fact that we’re forward-thinking, that we share an entrepreneurial spirit, and the fact that we like to have a bit of a laugh too. We’re all a bit too addicted to chocolate, but no one’s perfect, really.

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