Best way to save money: The Car

rafhelp

Ok the best way to save money is not to use vouchers, freebies etc.. but to look at what youre already spending and cutting that down, that way you maximise whats coming in.

So I have a car, so do you.

Do you really need it.

Say you work in the same town, you occasionally go out of town or visit friends. You can make do without the car.

You can use public transport to travel out of town or within. You can buy a bike a ride to work, or take a bus/taxi on a rainy day.

What will you save.

Ok you sell the car, you get the money for that.
Insurance say £1000 a year fully comp
Petrol (based on average £20 a week x52) =£1040
Road Tax + MOT + servicing = £320
Additional costs of maintenance, tyres etc.. £50
Total / year = £2410

Even if its £2000 a year over 5 years you save £10,000, at which point you may need a car more, and you could afford to buy a more reliable, economical car.

During the year you would incur travel costs but not as much as the car, its just less convenient or luxurious.

But if you had to taxi it to work everyday its not saving money
Taxi to work and back, 5 times a week at £8 is over £2000 a year
plus you have other travel costs like days out etc..

Please discuss, if i have missed anything please correct.

nomoneytoday

If you only need a car occasionally, then streetcar and similar companies rent by the hour

scheming_gypsy

if you want a car buy a car and drive it whenever and wherever you want and don't let other people tell you otherwise!

SailorSam

I think having a car is a bit like smoking cigarettes, it's addictive.
If i sit down and work out what it's costing me to keep on the road and how low a mileage i do these days, i know i should get rid of it.
But once you're use to being able to jump in it whenever you want, it's hard to give it up.