The purchase price of the car and any subsequent loan repayments are simply the beginning of the price of owning a car or truck. Switching to every purchase that is fully aware of persistent costs is always a fantastic idea. Here is our manual on the average annual cost of motoring, which will help you decide if you really can afford this new pair of wheels.
You cannot opt out of insurance. This is a legal necessity, and its absence provides for a fine and points on your license. The price will vary greatly depending on the origin of the car, zip code and age. Drivers between the ages of 21 and 25 in central London pay on average more than 2,250 per year. In contrast, a 45-year-old Highlands resident pays £300 per year. Never proceed to the first quote you visit, look around and do it each year, instead of simply accepting the extension.
Road tax is another significant cost. Road vehicle tax rates rise and fall all the time, depending on the extent of these bodies at the moment. You can enter your car’s registration number online and determine the current tax range. You will also receive an online reminder when the tax needs to be extended. If you bought a car with very low emissions or an electric or hybrid vehicle, you will not pay any car tax.
MOT and Servicing
If your car is more than three years old, you will have to conduct an MOT test every year. The price for the assessment itself is limited by the authorities to only over £50, but many workshops decide to collect a smaller amount to attract customers. When a mechanic during an exam finds something wrong with your vehicle, then it can become expensive. A fantastic way to avoid unexpected surprises during a technical check MOT is to follow your preferred car service program. A basic service in a local garage will probably cost around £125, but often you don’t have to do it every year.
The average gas bill is around £2,500. There are ways to get the latest prices, such as choosing a more fuel-efficient car or taking advantage of offers and promotions that often work in workshops. It is also surprising how far prices can be reduced smoothly, because sudden braking and acceleration can greatly increase the amount of fuel the car receives.
You will not have to exchange each year, but it is a price worth considering. Tires usually last two to three years depending on how many miles you travel. As soon as you know what tire size you need, search online for the best deal. You can expect to pay between £50 and £100 per day, e.g. for matching. Keep your tires by regularly assessing the pressure and tread depth. If you find out about irregular wear, this should be examined by a mechanic.