A survey conducted by Auto Trader revealed that more than six out of ten motorists are worried about how much it costs to run their car, even more so than paying rent or mortgage costs. 63% of those who were quizzed said that they were anxious about being able to afford the rising costs associated with motoring, even though it was essential for them to own a car in order to get to work, take the kids to school or even to do the weekly shopping.
Aside from asking themselves ‘how much is my car worth?’, 55% of those who answered the survey revealed that their disposable income had fallen, while 53% considered selling their old car in order to buy a smaller, cheaper and more fuel-efficient model. The fact that times are tough is evident if the results of the survey are anything to go by, but the cost of motoring can be dealt with and even reduced despite the fact that it’s become more expensive to own and run a car than ever.
Part of the reason why people are panicking about the cost of motoring is the astronomical rise in the cost of fuel. Fuel has become so expensive that you might want to sell your car with autotrader.co.uk and give up car ownership. However, by buying a new or used fuel-efficient model to replace your old car, you could save money on running costs and even car tax, which is lower for smaller models.
If trading down isn’t possible, you could simply look at getting the most out of the car you already own. Use it for necessary journeys such as the school run or for getting to and from work rather than for short-distance drives, which will save you plenty of money in the long run. Also, use public transport when possible, as that could be a cheaper alternative to being totally reliant on your car. Even if you’re anxious about having to spend more for the privilege of owning a car, it’s possible to still cut the cost of motoring.