Combat the Cost of Car Ownership

For Immediate Release: Monday 22nd November, 2010 Contact: Dale Lovell Tel: 01753 859 588 E-mail: Combat the Cost of Car Ownership Driving and owning a car is now more expensive than ever. To aid cash strapped motorists cut the cost of their motoring, leading financial comparison and money saving website offers their top tips on cutting the cost of car ownership. In the current economic climate, figures show that almost a third of all households struggle to find extra money to pay for an unexpected bill each month. The average cost of an unexpected bill amounts to £178 and fixing a car accounts for the majority of these unexpected bills. October saw UK motorists see a 1p increase in fuel duty, while the increase in VAT in January will see a further 2.5p increase on petrol, as well as an increase in the cost of everything from car parts to servicing costs. Commenting, Gareth Jones, Online Marketing Manager at said; “Running and owning a car is now more expensive than ever, especially at a time when most of our individual finances are not as good as they once were. What’s more, owning a car is not a luxury, but a necessity for many people as they need a vehicle to travel to work. Therefore when things go wrong with a car, it can be costly. “Despite the spiralling expense involved in running a car, however, there are number of things consumers can do to cut costs and lessen the effects of inflation. Everyone knows that shopping around for the best deal on your car insurance is a must and is something that can be easily done online. Other points to consider too include buying a car warranty. Although this may cost money to begin with, it should mean that you are covered against any unexpected bills for car repairs coming your way.” Leading financial comparison and money saving website has put together a number of tips to help consumers cut the cost of motoring. Cutting the Cost of Car Insurance: What you pay for car insurance will depend on: the length of time you have held a license; your age; sex and previous claiming history. There are some things motorists can do to lower their premium. Investigate an insurance company that offers insurance specifically for the group in which you lie. For example, female only insurers or insurance for the over-50s do offer specific discounted rates. Also, some insurance policies include discounts for extra driving qualifications such as motorway driving and added car safety gadgets such as park assist. Always compare car insurance prices from a range of suppliers before buying too, as this is likely to save you a considerable amount in the long term. Car Warranty: Car warranty can be an essential when buying a car. It is worth getting good warranty cover so if anything goes wrong with the car within a certain period it is covered for repair at no extra cost to you. Always check the small print of the documents you sign to check you are not required to pay a sum of money to claim on the warranty; look out for excess charges too. Different car companies offer different warranty periods, so it is worth checking to see what manufacturer offers what. Car Finance: If you need a new car, perhaps for work purposes, if you do not have the cash upfront then you will need some form of car credit to fund the cost. When taking out a car loan it is important to work out exactly how much the interest will be and whether or not you can afford the repayments each month. The amount of interest you pay and the length of time the loan is for will influence how much you are actually paying for the car. Also, compare car loan providers online to get the best deals. Cut the cost of car ownership now at Notes: For more information contact Dale Lovell on 01753 859 588 / 0779 1414 681 or email: About MoneyExpert has been helping people find the best finance deal for over 20 years. We're proud of the impartial service we offer. We allow you to compare all products in the marketplace at the click of a mouse to help you find what's best for your money. Every month we help hundreds of thousands of people to find the right product for them. Please feel free to talk to us or get in touch via our website - we're always eager to help.