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Running a Car on a Budget

For many people being able to buy and run a car without spending a fortune is reality.  Students who need to get back and forth to school, parents getting back and forth to work or maybe you’re between jobs and need cheap transportation from point A to B; whatever the case you need a reliable car that won’t put you in the poor house.  It is completely doable, you can find affordable transportation, here are a couple of tips to help you along the way.

The Budget

The budget will be the biggest factor in determining your purchase, don’t try and stretch it to something you won’t be able to afford.  If your finances change frequently you may not be able to afford maintenance or repayments.  There is a tool you can use from the Money Advice Service to help you figure out what you can afford for repayments and the costs of running the car.

Do Plenty of Research

When it comes to buying a used car what you want may not be the most practical choice.  You need to do some research and make sure you select a model that has a good safety rating, is reliable and will hold its value.  You can check online at CarBuyer or HonestJohn to get some in depth reviews of any vehicle you might be thinking of purchasing.  Another thing to factor in is how much will this car cost to run, does it use much petrol, what about road tax or insurance.  These are expenses you can’t avoid so you want to minimize them as much as possible.

Used Cars Have Value

Not everyone has the budget for a brand new car, but a good solid used car can offer the same reliability for half the price.  Some models are extremely reliable, you get the benefit of a car that runs like new but with a used car price tag.  You can find plenty of selection at car auctions, gumtree or even on ebay.  If you have the cash to pay upfront you can do some negotiating and find a deal.  If you are looking at financing then shop around for good finance terms as well as a reliable car.

Run your car cheaply

Now that you have the car that you like and have a sensible repayment plan in place it’s not the time to stop looking for ways you can save money.  Keep the costs of running your car down by doing things like using standard fuel.  Learn about car maintenance and try and do minor repairs yourself.  Avoid over accelerating and start slowing down naturally are ways to keep petrol costs lower. Here is a video to show you some basic car maintenance tips:

A bit of planning and research can keep you on the road without costing a fortune.