Strap yourselves in wannabe petrol heads. With the help of money saving expert, Martin Lewis, Book Theory Test Today is hitting the road with 50 top tips that will cut your motoring costs. Tune in each & every week for a new tip and remember to share with friends and family and slash the cost of motoring.
This week we’re looking at cutting the cost of motoring by saving cash on fuel. Yes, there are some pretty shrewd ways to say money on filling up that you should be aware of.
Cut the cost of motoring tip #30 – Top tips for saving on fuel
The Book Theory Test Today blogger says: “Ah, the days when a litre of unleaded petrol would cost me around 80 pence. Those days are long gone, the price of fuel has soared since I first passed my practical driving test and now filling up adds hundreds of pounds to my yearly cost of motoring total, sigh.â€
Learners, any experienced driver will tell you that not only does it hit your finances getting a driving licence after you’ve got it the cost of motoring really racks up. Experienced drivers will also tell you that fuelling up is the single, biggest expenditure for motorists that occurs on a regular basis – weekly for many.
However, there is a trick to help you save cash when you need to fill up the tank. Say hello to cashback cards, which pay you a percentage whenever you use them to spend and that percentage soon adds up.
For instance, the Santander 123 card rewards you with 3% on petrol (max cashback on fuel £9 per month) – should you spend over fifty quid a week petrol. This card will provide you with £80 annually, a great way to cut the cost of motoring.
However, you do have to speculate to accumulate from a cashback card. The Santander 123 card does require you to pay a £24 annual fee, plus you have to pay back any outstanding balance in full at the end of every month to stop yourself from being hit with the 12.7% interest on spending. Combined this amounts to 16.5% representative APR.
Aside from cashback cards, there are also some clever ways to help you save on fuel costs and cut the cost of motoring. Check out this cheap petrol guide for some top tips to cut your fuel costs.
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