Driving is expensive for all of us, but new drivers get it worst. Not only is there the cost of buying your first car, there’s also the cost of insurance and the high likelihood of having a silly accident and needing repairs. Fortunately, there are ways to reduce these expenses. Here are just five ways to reduce your overall costs as a new driver.
Opt for a used car
A shiny new car is usually impractical if you’re a first-time driver. Used cars are less expensive to buy and can sometimes be less expensive to insure. Less reliability can be the one biggest downside of opting for a used vehicle, but as a new driver that is inexperienced, you’re bound to make a trip to the mechanics anyway for some small misjudgement. You can buy used cars from a dealership or you can look for independent sellers online.
Choose a model that’s cheap to insure
When choosing a vehicle, it’s worth considering the insurance group that it comes under. Car models in the lowest insurance group tend to be small, secure, reliable, cheap to repair and low performance. You can look up the insurance group of a vehicle online (some sellers may specify this for you).
Shop around for insurance quotes
Whilst filling out insurance forms can be tedious, it’s worth getting several quotes before choosing one insurer as prices can vary widely. Comparison sites can be useful for giving you a general idea of pricing – just make sure to read the specifics of each insurance scheme to see what is included. There are insurers out there that cater predominantly towards new drivers and they may have special affordable new driver schemes.
Raise your deductible
The deductible or excess is the amount of money you’re willing to pay out of your own pocket during an accident before claiming from your insurer. Opting for a high deductible can lower your rates. This does however mean that you must be prepared to pay more in the event of an accident that needs repairs – some people may not see the value in this given that we all pay car insurance for the very reason of not having to pay out of our own pockets.
Consider an advanced driving course
Having just passed your test, the idea of more lessons might not be very appealing. However, taking an advanced driving course can lower your insurance rates by showing insurers that you’re a more capable driver and therefore less likely to get into an accident and make a claim. Advanced driving courses are an investment – you’ll have to pay a fair amount to take these courses, but you’re likely to save money in the long run.