In the face of volatility in the financial markets and the continued
impact of the credit crunch, it is important for motorists to take
steps in reducing pressures on their spending.
Such is the claim of Which? where in its Money Saving Handbook guide
it suggested that driving at slower speeds can result in significant
savings for Britons. By going at 50 miles per hour instead of 70 miles
per hour, it was pointed out that petrol expenses could be cut by 30
per cent. In addition, the consumer publication advised drivers to
ensure they regularly check pressure levels within their tyres. Having
tyres which are under-inflated was indicated as adding another eight
per cent on to an annual fuel bill and resulting in uneven wear and
“premature” car failure. This, it was stated, could lead to “extra
expense” following on from higher repair bills.
Following on from higher than necessary motoring costs, it may be
possible that consumers develop furthered difficulties in managing
other demands on their spending. Such areas could well include bad credit loans, credit and store cards, utility bills and council tax repayments.
Meanwhile, switching off air-conditioning was put forward as another
way in which costs may be cut. By keeping such a system on constantly,
it was purported that up to ten per cent could be added on top of fuel
expenses. In addition, changing gears at the right time was also
recommended. By doing this efficiently - not driving a motor vehicle in
too low or too high a gear - petrol bills could be reduced by a
quarter. Furthermore, Which? reported that roof and bike racks should
only be used when essential. By constantly having a fully-loaded rack,
some 30 per cent could be added on top of petrol costs.
Tony Levene, author of Money Saving Handbook, a Which? essential
guide, said: “There are some fixed costs involved in driving a car that
you have to pay whether you drive 2,000 miles or 20,000 miles a year.
But if you can reduce your fuel bill by a couple of pounds each journey
by making a few simple changes to the way you drive or use your car,
why not? With petrol costs rising and people feeling the pinch, those
couple of pounds could make all the difference at the moment.”
For those people concerned about their capacity to manage their
finances as 2008 progresses in the face of rising costs taking out a loan
may be advisable. By doing so borrowers could find that they are able
to meet various demands on their spending and make major purchases
effectively. One such area in which a personal loan
may be particularly recommended to be used is for buying a car, as it
may see consumers be able to purchase the vehicle of their dreams
quickly and effectively. The additional assistance from a loan, whether it is a personal loan or otherwise, could help drivers to purchase a comprehensive insurance policy.
Last month, uSwitch reported that motorists should take their time when
selecting their insurance as those who automatically choose the deal
offered by their motor manufacturer would pay an extra 26 per cent
compared to the most competitive deal on the market.
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