With 1.3 million new drivers expected to hit UK roads this year, many are passing their tests and on their way to owning their first vehicle. But not all of them will understand everything about owning a car… There are a number of different considerations to factor in, from insurance to fuel budgets – but here we cover them all, with this basic guide to owning a car as a new driver.
Budgeting for Your Car
Your car is not just as expensive as its list price. Running a car can be a pricey endeavour, and while the impulse to make the most of your car on a daily basis might be strong, adopting budgetary restraints with regard to your vehicle as well as your daily life can be a lifesaver. Fuel is the most significant cost related to driving, with the average household spending over £1100 annually on petrol or diesel. Short journeys are the least economical in terms of fuel, burning a relatively large amount of fuel for a relatively small distance. As such, resolving to take public transport or walk the distance for shorter journeys can save you a great deal in the long run. You can subsidise your fuel usage by taking part in car-pooling programmes for work, while economical driving practices such as shifting into higher gears early – and keeping your engine’s rev count below 3,000rpm – can reduce your fuel usage in longer journeys.
Maintaining Your Car
Your car’s maintenance and upkeep represent more significant expense, but with regular maintenance you can minimise the risk of an expensive breakdown – and with adequate budgeting, you can soak up the cost in the event of a serious emergency repair with little issue. One of the key ways in which you can look after your car between scheduled services is to look after your engine oil. Oil keeps your engine lubricated, but over time can become dirty and less slick. This can cause friction in the engine, leading to reduced fuel economy, overheating and eventually complete engine failure. As such, learning to top up and change your engine oil yourself can keep your engine in tip-top condition for longer.
Apply this philosophy to other parts of your car’s maintenance; there are other crucial fluids to monitor, from brake fluid to coolant, while knowing how to change your car’s battery and replace its spark plugs can shield you from expensive mechanic callouts, and keep your car running smoothly until something outside of your experience goes wrong.
Insurance Coverage
Insurance coverage is important to consider, not only from a financial standpoint but also a safety one. Insurance is a legal requirement, but choosing the right insurance can make sure you are protected in the event of something happening to your vehicle. Third-party insurance covers damages incurred from accidents caused by others, while comprehensive insurance pays out even if you are at fault, and can even protect other passengers.
Optional Extras
GAP insurance is also an optional extra you could consider for your car; GAP stands for Guaranteed Asset Protection, and, in the event of theft or a write-off road traffic incident, covers the difference between your insurance’s offer and the total value of your car. This is not included in existing breakdown cover, but instead an extra level of insurance to ensure you are adequately covered in the event of the worst.
Courtesy cars are a common extra offered by standard insurance policies, where you are offered a car to use while your car is repaired and serviced following an incident. This ensures your life is not disrupted by the accident, allowing you to carry on as normal until you get your car back or source a new one.
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