How to Afford a Second Family Car

Image courtesy of israfun
Image courtesy of israfun

Many families have two cars these days, but with cars being so expensive to run it can be difficult to know how to afford two. This could be whether you are struggling with running two cars or if you are thinking of getting a second car.

Insurance can be one part of the expense where you can save money. It can sometimes be cheaper if you insure both cars with the same company and you may get a multi car discount. If you put both drivers on both cars it may be cheaper, but get a quote with and without because if one driver has made a recent claim, having them names on both insurances may make them both expensive. Make sure that you compare every year to see whether you can get cheaper insurance as it can be worth changing companies every time.

The cost of buying a car can be really expensive but some cars are a lot cheaper than others. Second hand cars are always cheaper and they can be less problematic than new cars at times. If you get them form a trusted dealer then you will be able to go back to them if there is a problem in the short term. A smaller car will also be more fuel efficient and so it is much cheaper to run two small cars than one really big one.

Fuel is an area you can save money too. Look for the cheapest petrol stations near to where you live. Drive efficiently too as accelerating suddenly can burn a lot of unnecessary fuel as can driving too quickly on a consistent basis. Try to only drive when necessary so that you save money that way as well.

Saving up to find the initial expense of buying and insuring a second car can be really difficult. It is wise to put some money aside each month, as soon as you get paid, and that will eventually add up to enough. You may be able to get a loan to pay for a car, but this will work out very much more expensive in the long run and so you need to carefully calculate whether it is worth it and whether you will be able to afford it.

Servicing can be expensive, particularly if you take the car to the dealer to be serviced. Do a price comparison and try to ask around locally to see whether there are any reliable places that will be able to do this for you. Alternatively you could do it yourself. You will be able to find out exactly what you need to do online and learn all of the necessary techniques. It will take time and effort but will be a lot cheaper than paying someone else to do it.

If you need repairs and cannot do the work yourself then it can be cheaper to source the parts yourself. You might be able to buy them online and save money compared to getting a garage to buy new ones for you. A dealer is unlikely to fit second hand parts for you but an independent local garage will.

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Rachel Henderson is a professional freelance writer from the UK. She writes on many subjects but specialises in personal finance. As well as contributing to various blogs and websites she has her own website tracking her own money making process http://www.turnonepoundintoonemillion.com and sells her books through http://www.bowbridgepublishing.com.

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