Control your car costs with these timely tips

Cutting your spending on motoring can help you offset surging pump prices.

MoneySaverHQ

PETROL prices have soared in the past six months but filling up on fuel remains just part of the motoring cost equation.

New research by car insurer Bingle shows that just under half of our motoring costs go on fuel — a national average of $2617 each year. There’s not too much you can do about pump prices, which CommSec estimates are rising at their fastest rate in almost 25 years.

However, other key motoring costs can be controlled to save cash.

PARKING AND TOLLS (average spend $269 a year)

Bingle spokeswoman Marcela Balart says drivers are becoming increasing accepting of discretionary costs such as parking and tolls, even though these often can be avoided.

Research the trip before you leave to see if there are cheaper alternatives, or consider carpooling to share the expense. “It’s up to the driver to decide whether convenience outweighs the cost,” Balart says.

REGISTRATION AND INSURANCE ($1303 a year)

Check if you really need all those bells and whistles on your car insurance policy. You can also get a discount paying for car insurance annually rather than monthly.

It’s a similar story with registration, where big discounts can be offered to people who pay annually in advance. Mark the expiry date in your phone or calendar to ensure you don’t get fined for driving an unregistered vehicle.

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Of all motoring costs, fines are a cost you can control 100 per cent.

FINES ($90)

Of all motoring costs, fines are a cost you can control 100 per cent, says Balart, simply by obeying the road rules.

MyBudget founder Tammy May suggests using cruise control where possibl. “Sometimes you don’t realise when a speed limit has changed and you can get caught out,” she says.

SERVICING AND MAINTENANCE ($1019)

Don’t feel pressured to get your car serviced at the dealership if it’s going to cost you a fortune. Many other mechanics are able to do logbook repairs that maintain a new car’s warranty.

May says new car buyers should try to negotiate to get servicing thrown into the deal. “I did with my car and got three years of free services,” she says.

Using a car wash can be costly. “Instead of paying, you can wash it yourself like the old days,’ saving $300-$400 a year,” May says.

Bingle’s Balart says keeping a car well-maintained will lower the chances of expensive repairs down the track. Watch your spending on luxuries such as sound systems.

“Small costs can add up over the course of the year. Budgeting is really important as the cost of living is going up and up. The cost of motoring is something you can control to some degree.”

Balart says you can also reduce your use of petrol by driving more smoothly, avoiding quick accelerations, and tracking your fuel consumption so you can budget against it.

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Originally published as Control your car costs with these timely tips