It is of the utmost importance that motorists take steps in reducing pressures on their spending. This is more evident in the current volatile financial markets, and with the credit crunch still having an impact
In the Which? Money Saving Handbook guide it is suggested that by driving at slower speeds Britons can result in significant savings. By travelling at 50 miles per hour instead of 70 miles per hour, it was suggested that petrol expenses could be cut by up to 30 per cent. Also, the consumer publication advised drivers to ensure they regularly check tyre pressure levels. Having tyres which are under-inflated was indicated as adding another up to eight per cent on to ayearly fuel bill and causing uneven wear and “premature” car failure. This, it was stated, could lead to “more expense” as a result of high repair bills.
Following on from excessively high motoring costs, it is also conceivable that people could develop other difficulties in managing their financial demands. Other areas could well include adverse credit loans, credit and store cards, household bills and council tax repayments.
Which? also reccomended switching off your air-conditioning as another good way of saving money. Constantly having your air-conditioning on could add up to 10 per cent to fuel expenses. They also recommend changing gear at the opportune moment could save as much as another 25 per cent of fuel expenses. They also reported that bike and roof racks should only be used when necessary. Constantly having a fully-loaded rack could add a significant 30 per cent on top of petrol costs.
Tony Levene, author of Money Saving Handbook, a Which? essential guide, said: “There are some fixed costs involved in driving a car that you have to pay whether you drive 2,000 miles or 20,000 miles a year. But if you can reduce your fuel bill by a couple of pounds each journey by making a few simple changes to the way you drive or use your car, why not? With petrol costs rising and people feeling the pinch, those couple of pounds could make all the difference at the moment.”
For anybody concerned about their abality to manage their finances as 2008 progresses faced with rising costs it may be advisable to take out a loan. In doing so borrowers may find it easier to meet various demands on their spending and make larger purchases effectively. One of the areas in which a cheap loan may be particularly recommended to be used is for the purchase of a car, as it may be easier to purchase the vehicle of their dreams quickly and efficiently. The additional assistance from a loan, could help drivers to secure a cheap insurance policy. Last month, it was reported by uSwitch, that motorists should take care when selecting their motor insurance as those automatically choosing the deal offered by their motor manufacturer would pay 26 per cent extra compared to the cheapest deal on the market.