Much to the delight of motorists, the fuel price has dropped twice in the last month. It's good news for drivers who are now making significant savings when filling up. But motorists can save even more by taking proactive steps with everything from car maintenance to comparing vehicle insurance, something recommended by financial comparison website www.Justmoney.co.za.
Michael Turnbull, Marketing Manager for Midas Group in South Africa, has some tips for motorists to make savings beyond the drop in fuel price.
"Good maintenance is a key part in ensuring your vehicle remains economically efficient," Turnbull explains.
Even basic things like checking oil, water and tyre pressure is key to making sure your vehicle runs well. Getting the little things right can save you a lot of money in the long run.
"You can also save more by buying any spare parts you might need at a store like Midas. It can often be far more cost-effective than buying from the service centre," Turnbull adds.
Aggressive driving, like speeding, rapid acceleration and braking can all waste your fuel. But a few simple steps can help improve your car's fuel efficiency quite rapidly.
"Simply observing the speed limit can make a massive difference in the efficiency of your car," says Turnbull.
"Cargo boxes on roof tops and heavy car loads also have an impact. Excessive idling can also use a lot of fuel. It's best to turn off your engine when your vehicle is parked or even when you are stuck in built-up traffic that's not moving," Turnbull adds.
Be warned, however, that excessively turning your engine off and on may have an impact on wear and tear. Getting the balance right is important.
Making sure you have the best deal on insurance can save you a few thousand rands a year.
"People tend to forget to shop around for a better quote and just accept the insurance increases every year. They also forget that their car depreciates in value and they should therefore insure themselves for less," says Angelique Ruzicka, editor of Justmoney.
This is only valid when purchasing a vehicle, but it's an important one to remember. It is easy to get caught up in buying extras, but this is a pitfall motorists should guard against.
"After-market products can be significantly cheaper than buying it straight off the dealership floor. At Midas we pride ourselves in offering the most cost effective solutions for our clients," says Turnbull.
A number of South African banks and even some insurers offer cash-back or points system on various purchases. Some have special deals in place with selected garages so it's worth checking what you qualify for. Be sure you know exactly how these schemes work, though, warns Ruzicka.
"If you are paying to be a member of the reward scheme make sure you understand how it works and whether you will gain maximum benefits from every feature, particularly if you have to pay a monthly fee to be a member," Ruzicka says.
