Considering that the UK is only just beginning to recover from a recession, we could all do with saving money where possible. Many industries suffered tremendously and a great number of businesses folded down to the lack of disposable income people had. One industry that the recession did not impact upon quite as significantly however was the automotive one. People always need cars to drive and it is an area in which they are not willing to sacrifice.
What I mean by this is that people aren’t willing to compromise the car that they want even if it means cutting back in other ways. For example, someone may have their heart set on a used Cadillac CTS and purchase one without real thought about the financial implications it could have. If you consider the huge fuel consumption rates of the model and high road tax however, it should be pretty hard to justify buying one unless money is of no object to you. There are many similar vehicles on the market which are far cheaper to run.
Of course this isn’t to say that everyone should necessarily only think about fuel consumption when buying a car – a used Citroen C4 Grand Picasso may not be the most efficient of vehicles, especially with six or seven passengers, but it would certainly be less expensive to run than two vehicles each with three passengers inside.
In my humble opinion, people should pay a lot more attention to how efficient different models are before parting with their cash. Let’s say you were looking at a used Jeep Grand Cherokee for example. It boasts many excellent features and is undoubtedly a great car to drive. There are acres of space on offer and it works well both on- and off-road. Are there not similar vehicles which do the same for less though? The Grand Cherokee can cost up to £30 for every 100 miles you cover!
The same applies to lease deals. Initially people believe that all expenses associated with their car are covered with a single monthly payment – there is no road tax to pay and no MOTs etc. But fuel expenses should still impact upon your decision. A contract hire BMW X6 may be just within your budget, but have you considered the extra £300 or so that you may need to spend at the petrol station every month? It can make a huge difference.
You can check the fuel economy of any vehicle you are interested in online.