People in UK have more choice of transportation than ever before. More and more people are deciding to cycle to work, use car sharing and ride sharing services, all while public transport is being relied upon more heavily as populations surge in the capital cities.
Despite so many transportation options available, driving to work in their own car is still the preferred option for the majority of people and its popularity is only increasing as cars become more affordable, more luxurious and safer.
There are plenty of statistics available to showcase popularity of driving however easiest way the preference for driving can be witnessed is with increasing car sales and traffic congestion.
This article is not about proposing which mode you should choose for your transportation but to highlight some of the obvious and hidden cost of ownership of car.
Obvious costs of ownership are leasing, servicing, fuel, insurance and toll charges.Hidden costs may include the cost of parking, fines and time spent in traffic jams.
A 2018 report by financier MoneyBarn on the true cost of owning a car which was based on purchase price, servicing, repairs, fuel, insurance and parking also highlighted the cost of ownership according to different regions of UK.
Owning and travelling by a car is undoubtedly more comfortable and luxurious, however,due to very high demand it creates traffic congestion across the UK. This congestion and the time spent in it costs the people of the UK a lot of money; both as individuals and as a nation.
Here are some tips to help you bring down the cost of traveling by car:
● Buy or lease a car within your budget
● Make sure to buy a car with the warranty to avoid expensive repair bills
● Shop around for better service deals and service regularly
● Fill up your tank on the cheapest day
● Check your tire pressure
● Shop around for better insurance deals
● Remove unnecessary weight from the car as it reduces fuel consumption
● Do not speed as it will save on fuel consumption and you will avoid hefty fines
A growing number of owner-drivers are also putting their car to work and earning money through their vehicle. Owners can begin to recoup some of the costs of owning a car through using their vehicle as a ride-sharing or car-sharing service or perhaps delivering packages.
Everyone should get more out of your car, by either sharing journeys together or sharing your car with someone when you don’t need it. This way you can reduce the cost of owning a car and the money you save can reduce the cost of living and will also contribute towards improving the environment.
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