With the current economic recession grinding ever more deeply, consumers across the country are facing difficult decisions regarding their household budgets. One of the larger components of a family’s budget is their car running costs. These costs include everything from insurance to fuel to maintenance. Cutting car costs is essential to bringing the home budget into balance. Here are 10 ways in which car owners can cut their costs quickly.

1. Shop for A New Insurance Company.
The car insurance industry is very competitive. Companies are always adjusting their scoring criteria for underwriting insurance policies. Because each company has different criteria and rating procedures it is possible that another provider may be able to offer a more competitive policy cost than the current one. It is important to start shopping around for coverage at least two to three weeks in advance of the current policy’s expiration.

2. Raise Your Excess.
If after an extensive search it is found that the current auto policy is the best priced, another way to reduce your premium is to increase the excess level. Typically, this can range from £100 to £500. Increasing the excess up to the next tier may be financially advantageous. However, the customer has to be aware that, by doing this, they are transferring more of the financial risk back onto them. They have to determine if the premium cost savings outweigh the additional risk to them, in the form of an increased excess.

3. Group Trips Together.
An easy way to reduce monthly car costs is to group several trips (e.g. supermarket, health club, school) together. Doing this cuts down on the total mileage travelled. This reduces the fuel bill and the wear and tear on the car.

4. Replace the Air Filter.
Replacing a dirty air filter can increase the car’s fuel efficiency. It is accomplished by providing better airflow into the engine, allowing the engine to more efficiently burn fuel.

5. Keep Your Tires Inflated To the Correct Pressure.
When tires operate with less than optimal pressure, they create more resistance between the road and the car. Worse still, the lower the pressure (vs. what is recommended by the manufacturer) the great the risk of a tire blow out.

6. Fill Tires with Nitrogen.
Something that is relatively new on the scene is an service which fills car tires with nitrogen. The theory is that tires filled with nitrogen lose pressure more slowly than being filled with air. Consumer Reports released a study in 2007 showing that there was some improvement with nitrogen filled tires. However, given the cost involved in having tires filled with nitrogen vs. the benefit is minimal. The gains from having new tires with good tread would also make a good investment.

7. Chuck Out Your Rubbish
Imagine walking around with an extra 50 pounds of weight on your back. The added amount of energy the body would use would be tremendous. Having a set of golf clubs, children’s toys and other unnecessary ballast adds weight to the car, making the engine work harder to go from point A to point B. This extra effort results in more fuel used for each mile travelled, lowering efficiency dramatically.

8. Replace Spark Plugs.
Replacing spark plugs has two benefits for the driver. The first is fuel efficiency. Some manufacturers, such as HALO(R), claim fuel efficiency increases of up to 10%. The second benefit is increased horsepower and torque.

9. Buy the Lowest Grade Petrol Acceptable.
Often, consumers get accustomed to purchasing premium fuel for their vehicle. Premium petrol may not be required in many cases. The extra five or ten pence per litre really can add up, especially if the car is being driven more than 200 miles per week. To find out the minimum octane rating required, check the vehicle’s owner’s manual.

10. Switch To A More Efficient Car.
If all else fails and the family car still costs too much money to maintain, yet the need for a car remains, it’s time to make a trade-in. SUVs, luxury cars and large trucks are notorious gas guzzlers. Most people are aware of lower mileage efficiency. What people sometimes fail to take into account in their monthly car budget is the cost of expensive repairs. When trading in a current vehicle for something else, be sure to find out the car’s initial and five year quality ratings. These ratings will give a pretty good idea of how expensive it will be to maintain the vehicle in future.

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