Money Matters: These Are The Costs That Catch Out New Drivers

Pic linked from here

We all know that running a car is expensive, however it’s not until you actually come to get onto the roads yourself until you appreciate just how expensive. While learning to drive and having access to your own vehicle is worth it for most people, the high costs can be enough to put anyone off learning. By the time you’ve passed your driving tests you’ll have probably already forked out thousands on driving lessons and tests, and the biggest cost that’s on your mind is the cost of a vehicle. However that’s just the start, there are so many other things to factor in when it comes to getting on the roads. If you keep these things in mind and plan for them accordingly, you will be able to save and plan far more efficiently.

Insurance

As a new driver, the biggest cost that you will most likely face is your car insurance. The cost of your vehicle is likely to be much smaller in comparison, depending on what you’re driving you could be getting quotes of many thousands per year. It’s important to run quotes through a comparison site to see what you’re working with before purchasing a vehicle. The size, age and model will all affect this, but you can get very different quotes for similar cars so don’t just assume! As yourself ‘how much car insurance do I need’ to, changing the limits and the amount of coverage you will get can affect the price. When you’re saving for a new car, as a new driver really it’s the insurance you should be saving for as this is likely to be the most expensive.

Fuel

You’ve passed your test, you’ve purchased a car and managed to insure it- it’s all plain sailing from here, right? Not quite. Fuel is an ongoing cost, and depending on the kind of miles you do it can really add up. Some tips for spending less on fuel are reducing the weight of the car (so not driving round with roof racks on or unnecessary items in the trunk for example). Driving with the windows down creates drag and means you will use more fuel, as will accelerating harshly. Adjust your driving style to get the most of out every tank of fuel you put in. Carpooling for work can also save you money, asking people to pay a small amount can help towards your costs and also help the environment too as there are less cars being used this way.

Repairs

Finally, when everything is paid for and budgeted for and you think you’ve got your car costs under control- bam! You’re stuck paying for repairs. As with any piece of machinery cars can and do go wrong, and some car repairs can be expensive. It’s always worth having a savings account when you’re a car owner, that way if anything goes wrong you’re at least able to get it sorted right away without having to scrabble around for the money.