Saving money with motoring in 2010

Tuesday, 19 January 2010

With a new decade beginning and the recent recession convincing some to be less carefree with their funds, there are ways to be more frugal, especially when it comes to driving.

Indeed, with Brits seemingly spending their funds on items they do not even need, saving on costs when it comes to motor matters may be even more important. Bright Grey research has indicated that nearly £2 billion is likely to be spent in the January sales this year, with people buying items they do not need or will not use.

So what areas should motorists address to reduce outgoings on their vehicles? Well, getting a good deal on car insurance would be wise for those seeking to be savvier with their money. However, it appears many missed out on better options with their motor insurance last year.

Gocompare.com research has shown that only 22.7 per cent of respondents have changed their car insurance provider in the last 12 months. The organisation claimed that a potential 21 million drivers could be missing out on cheap car insurance.

The study also indicated that one in five Brits are starting 2010 seriously concerned about their finances. One in four said they urgently need to make savings, so it seems that they will be looking into different areas where they can cut costs.

"Whilst lots of people have become committed comparers and switchers, our research shows that millions of consumers could still be paying more than they should for things like insurance and energy because they stick with their existing provider without checking out the competition," said Lee Griffin, business development director of Gocompare.com.

Besides getting a better deal on a motor insurance quote, there are a number of tips drivers can take on board to lower their outgoings, including saving on fuel.

The Institute of Advanced Motorists (IAM), a leading road safety charity, has advised people to ask themselves if they really need to drive to get to their chosen destination. The organisation said that the shortest journeys are inefficient when it comes to fuel consumption and a straining cold engine will generate 60 per cent more pollution than a warm one.

Route planning
Planning a route can also help motorists save money as remaining stationary in traffic will mean drivers are essentially doing zero miles per gallon. Taking the most direct route is the best option to cut down fuel usage, according to the IAM, which recommended car sharing or park and ride schemes for those commuting to work.

Speed limit
Like it or not, obeying the speed limit is also a way of saving petrol, the charity asserted. Doing 56 mph uses 25 per cent less fuel than 70mph, while a smoother driving style can cut down on fuel usage significantly, the IAM claimed.

Lightening the load
Cutting down on post-Christmas expenses can also go hand in hand with losing some of the festive weight, according to the FOXY Lady Drivers Club, which has suggested that if people shed the pounds on their own bodies, they can increase a motor's fuel efficiency.

In fact, removing any excess weight from a car can help save on fuel, particularly add-ons such as roof racks and bicycle carriers, which can create wind resistance leading to more petrol being required, the club pointed out.

Tyre pressure
It also recommended pumping up tyres, as under-inflation can cut fuel economy by five per cent. This can also increase tyre wear by as much as 25 per cent, the organisation advised, adding that problems should be fixed immediately to save money.

With this year set to be another troubling one financially, drivers would be well-advised to take as many money-saving tips on board as possible. Of course, the recession is only temporary and once the downturn is forgotten about, remembering such advice may prove valuable when the economy makes a full recovery.

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