Reducing Motoring Costs

Posted by Lease Cars
11th March 2011 13:06

Are you finding it hard to cover the cost of your motoring needs, if so then follow our tips from Lease Cars which could will you reduce the cost of motoring.

How to Cut Your Car Insurance Cost

First thing to do is to look on the internet at all the Car insurance Comparison websites to obtain the cheapest car insurance quote available. These comparison sites will find the best policy to suit your specific age group.
You would think that with insurance premiums you would be unable to get a discount as most are fairly standardised, but there are discounts out there. You can gain discounts on your next insurance premium if you gain further qualifications such as Motorway Driving Course and Night Time Driving Course which reduce your quote. Other ways to help reduce your insurance is to protect your no claims bonus when possible, as this will allow you to have a number of claims in one year without affecting your premium 
All insurers will offer a lower quote on your next insurance policy if you have the above certificates as they prove you are a more experienced and potential more aware of hazards.

Reduce You Motoring Costs

Just small changes to our lifestyle will help in reducing petrol usage too. At times I bet we all use the car to pop to your local shop even if it is the smallest of journeys. But if you decided to walk instead of using the car you would save a considerable amount of petrol over the course of the year, not only would this save you money but this will also make you that little bit healthier.
Using Park and Ride on shopping trips into town not only reduces the miles you drive, but this will also save you time as you won’t be stuck in busy city centre traffic, plus parking is usually cheaper than in the city centre. Car sharing for school runs and work are also a good way to save money.

The Lease Car Option

Car leasing is another option worth considering which will save you money. Although Car Leasing is not for everyone it is perfect for those who like to renew their car every 2, 3 or 4 years.  
If you are unsure about how the price for a lease car is worked out here is a good example to help you understand it. If you decide to lease a car for £20,000 for 3 years and the resale price is worked out at £13,000 (This is the Residual Value), all you will pay is £7000 which is what the car is expected to depreciate at over the 36 Month period. When buying a car you will pay the entire £20,000, plus any finance charges, possible fees and car tax which could cost up to £1820 over a 3 year period depending on your choice of vehicle. This is why car leasing can offer lower monthly prices compared to buying as you only pay the depreciation value of the car.

Working in the Car Leasing trade you here on many occasions especially from people who favor buying compared to leasing is that they would never lease because you never own that car, and yes this is a well known fact. However what some people don’t realize is that the money you spend leasing a vehicle is the same as the money you would lose in deprecation when buying the same car, as a car's value depreciates at the same rate whether it is leased or purchased.
 
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