If you have a history of bad credit, then it’s likely you will be focussed on paying off any existing debt. This means that the car you own should be affordable alongside your other financial commitments. This includes the cost of owning the car itself, as well as running costs.
Even if your car finance payments are low, it’s important to realise that this isn’t the only cost to your car. In addition, some cars are considerably more expensive to run than others, so it’s advisable that you research which cars are most affordable for you before making any decisions.
Cars that are cheap to run
There isn’t necessarily one car that is the cheapest to run. You will need to take a number of factors into consideration including your lifestyle and driving habits. In addition, the cheapest cars to run may not actually be cheap to buy. For example, a hybrid or electric car is typically cheap to run but can cost a lot to finance.
To help, we’ve put together a guide to what you should look out for when buying a car if low running costs are essential to you.
As you might assume, a car with a smaller engine will typically provide better fuel economy than a larger engine. However, this is also largely dependent on how you use the car. A small engine is not designed to be regularly driven at higher speeds as it will need to work much harder to reach these, burning more fuel in the process. You should ensure that your car suits your driving habits in order for it to be cost-effective.
When considering fuel type you will also need to decide which is most suitable for your driving habits. Although diesel engines are typically more economical, petrol cars will be more cost-effective if you’re driving shorter distances.
The amount of CO2 a car produces impacts how much you will pay in road tax. If you choose a car that produces less than 100g of CO2/km then you won’t pay any road tax at all. This full list of Vehicle Excise Duty Rates can help you to work out how much you could pay. This applies to any car registered before April 2017 when the car tax changes were put in place.
Insurance is another cost that you will need to factor in when buying a car. In general, a small car is cheaper to insure than a larger one. All cars are ranked between 1 and 50, with the bigger the number, the higher your premium. You should take a look at what category the car you’re thinking of buying is in to make sure insurance costs are affordable for you.
Choosing a car
As a car dealership, we have a wide range of affordable used cars to choose from. This means you should be able to easily find something that suits your needs and lifestyle.