The Costs of Running a Car

With the economic climate such as it is, many of us are finding ourselves a little tighter financially than we are used to. This means big spends are given a little more thought before they are undertaken. Buying a car is one such example.

It can be an expensive business to buy a car so it is worth researching how much it will cost to run the vehicle before making a final decision about whether or not to purchase it. Also, if you already own a car, it is important to review how much it costs you to run to identify whether you could benefit from upgrading to a newer model.

As the price of public transport is rising as much as petrol, it is not immediately obvious which is cheapest. Of course, things will vary depending on whether you live in the country or the city, how much you use your car and what sort of car you have. The cost of car parts will vary greatly from car to car if something needs replacing but there are also universal components which are found across all models for more uniform prices.

What You Need to Think About

Petrol or Diesel

The cost of this for you per year will depend a great deal on how much you use your car. There are other factors to take into account however. If you do a lot of city driving it will be more expensive; the slower your car is moving the less economical it is with fuel.

Also, there is evidence to suggest that how you drive can have a significant impact on your fuel consumption. For example, if you always make sure you are in the right gear and make sure you change gear at the optimum time then your fuel ought to last a little bit longer. Similarly, avoiding harsh braking and acceleration can conserve fuel.

Insurance

The insurance market can be confusing and is frequently subject to change. A recent EU ruling to end gender discrimination means women, especially those under forty, must brace themselves for higher rates of car insurance in the near future.

Currently statistics suggest that young, testosterone fuelled males are much more likely to have an accident than their female counterparts. However, insurance companies will no longer be able to take this into account when offering a quote as it would breach the aforementioned ruling on gender discrimination.

Road Tax

The amount of tax you are obliged to pay also varies depending on what car you own. Taken into account are factors such as engine size, fuel type, carbon emissions and when the vehicle was registered.

Vehicles that are not classed as cars have a different, separate way of calculating their rates. To find out how much tax you will need to pay on your car you will need to know its make, model and exactly when it was registered.