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Planning around vehicle finance pressure

Navigating the finances of running a vehicle

At a time when the cost of living seems to be escalating in all directions, budgeting to keep a vehicle roadworthy can come as an added but necessary cost to owner / drivers. This month, Stourbridge Automotive are sharing ideas on how to relieve the added pressure of running a vehicle.

  1. Drive Slower – Faster speeds, or sudden braking and acceleration uses more energy and therefore requires extra fuel to control the vehicle. Not only is it safer to drive slower, but you will also save money by taking your time, when driving from A to B.
  2. Reduce Mileage – Making shorter journeys or planning several journeys within one trip can reduce your driving time and your mileage. By keeping mileage low, it not only uses less fuel but helps to preserve the car’s longevity – an added benefit when you are looking to sell on the vehicle.
  3. Cleanliness & Maintenance – Cleaning the vehicle inside and out will prevent bodywork and interiors from deteriorating with daily use. By regularly checking oil levels, screen wash and tyre tread, keeps the vehicle in good condition mechanically and prevents the likelihood of sourcing replacements – therefore, spending less money.
  4. Plan for Renewal Dates – Insurance and Vehicle Tax are all legal requirements. If the cover cost increases, it can be possible to stagger the payments through a payment plan on either a monthly / quarterly basis to help drivers to budget.
  5. MOT & Servicing – A vehicle’s MOT test is due annually to keep it roadworthy. Being mindful as to when your vehicle’s MOT test is due will help you to plan and save money towards the cost of the test, plus any further flagged repairs. By regularly servicing your vehicle, you will not only preserve the car’s condition, but technicians can often foresee repairs and alert customers early so that they can then plan for the work according to their budget.
  6. Repairs – Carrying out repairs to your vehicle to keep in good condition and roadworthy is essential. However, realising their sudden necessity and financing the repair work can be tricky. Having a savings pot for these types of unforeseen situations will go a long way to help with the repair payments, should the need arise.

For customers who would like assistance with paying for vehicle servicing and repairs, Stourbridge Automotive has recently teamed up with 0% finance operator ‘Bumper’. Bumper can help to manage the cost for vehicle servicing and repairs over an agreed timeframe. For some customers this opportunity is proving to be incredibly valuable, and so for more information, please see our website: https://www.stourbridgeautomotive.co.uk/finance/