Motoring Advice Archives

How Many Motorway Lessons Do You Need?

Learning to drive is an exciting milestone. It can also be a little intimidating, especially when navigating the motorway. How many motorway lessons do you need to pass your test? Technically none as you won’t hit the motorway during your UK driving test. That said, it’s always worth investing in a few lessons to build confidence behind the wheel and become a safer and more confident driver.

Building confidence on motorways

There’s no hard and fast answer to how many motorway lessons you need. It really depends on your confidence as a driver and familiarity with the motorway. Some new drivers can easily learn the ropes from the same parent or friend who taught them to drive. Other new drivers find the motorway a little daunting and prefer to take a lesson or two with a professional instructor.

There are also drivers who will need 10 or more lessons on the motorway before feeling confident. All scenarios are completely normal. Remember, driving is extremely personal and it’s important not to compare yourself to others.

The bottom line on “how many motorway lessons do you need?” Take as many lessons as you need to feel comfortable on the motorway. Purchasing lessons in packages can be a great way to save, especially for budget-conscious young drivers.

Get behind the wheel with My Car Credit

Whether you’re preparing for your driving test or have already passed, it’s never too early to start thinking about a set of wheels. Wondering can you get car finance at 18? Check out our all-bases-covered guide, then get in touch with a representative from My Car Credit to discuss your finance options. Whether you’ve got your heart set on a zippy Ford Fiesta or a road trip-ready Dacia Duster, we specialise in car finance for young drivers.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

Does Car Finance Include Insurance?

Insurance is your first line of defence against everything from fender benders to serious accidents. Not to mention incidents like fire and theft. Car finance is one of the most popular ways to purchase vehicles in the UK, but do agreements come with insurance? Read on as we answer “does car finance include insurance” and what you need to do to stay safe and responsible on the road.

Is insurance included with car finance?

Does car finance include insurance is often one of the first questions asked by borrowers. In most cases the answer is no. Car finance is a very different industry to auto insurance and most companies specialise in only one niche.

When you source a car finance quote, it’s best to assume insurance is not included. That said, some lenders do offer packages so it’s always worth inquiring. Bundling your car finance and insurance can sometimes unlock savings, though it’s not common. Instead, it’s best to source a separate car insurance quote.

As a bare minimum, you’ll need third-party insurance. It’s compulsory on British roads and covers damage to other vehicles and injuries to other drivers and passengers. Does car finance include insurance for third parties? No, like other insurance policies you’ll need to source third-party insurance from an independent provider.

Crunch your numbers with My Car Credit

Can I afford to buy a car, as well as pay for extras like insurance? It’s important to take a close look at your numbers before committing to a car loan.

If you want to keep costs as low as possible it’s worth considering options like Personal Contract Purchase (PCP), which allows you to spread out the cost of car ownership over several years. Your monthly payments are low and at the end of the agreement you have the option to renew the contract and exchange the car for a newer model, make a final ‘balloon payment’ to own the car outright or simply end the contract.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Advantages and Disadvantages of PCP Car Finance

Car Finance or Personal Loan – Which is Best for You?

How Do Car Finance Calculators Work?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

car finance insurance

How to Protect Your Car from the Sun

UV rays don’t just damage the skin. They can also take a toll on your car. With the UK experiencing year after year of summer heat waves, it’s never been more important to protect cars from sun. Here are our top tips on how to beat the heat this summer and keep your car looking and performing at its best:

A coat of UV resistant wax

Coating your vehicle with UV resistant wax is an easy and inexpensive way to protect car from sun. Over time, UV exposure can deteriorate the protective clear coat on your car and cause the colour to fade, flake or develop a white crust. Even an annual coat of UV resistant wax can make a huge difference when it comes to the lifespan of your paintwork.

Wash regularly

Foreign materials like pollen, dust, bird droppings, dead bugs can start to corrode your paintwork if they’re left on for too long. The last two are particularly nasty as they’re acid-rich which can accelerate corrosion. The process is fast tracked in the summer when the sun beats down on your car. A regular wash will get rid of debris and help prevent damage to your paint.

Use a windscreen shield

Investing in a windscreen shield is an easy and affordable way to protect your car from sun. You’re probably already familiar with these accordion-style shields that cover your windscreen and are held in place by your driver and passenger visors. They take a matter of minutes to put up but can drastically reduce the temperature of your car when parked. Not only do windscreen shields make it more comfortable to return to your car but they minimise wear and tear on the interior.

In particular, a windscreen shield can significantly increase the lifespan of your dashboard. Usually made from vinyl or leather, dashboards are often blasted by the sun. A windscreen shield provides a first line of defence and helps prevent issues like cracking and flaking. Installing temporary sun shields on your passenger windows can also be a good way to protect cars from sun. They’re usually made from a mesh-like material and shouldn’t affect visibility.

Condition and protect your interior

Heat exposure can dry out your interior upholstery and interior components over time. Specially made car conditioners are a great way to rehydrate your interior materials and restore shine. They also smell amazing and help give your car that fresh new scent. Finish with a protectant designed to repel UV rays, as well as impurities like dirt and dust.

Park in the shade

Good parking habits are one of the best ways to protect a car from sun. In summer the closest spot isn’t always the best spot. If you have to walk a little further to get to your destination but can park in the shade the payoff is worth it.

Take care of your engine

The sun doesn’t just affect exterior components like your paintwork and upholstery. It can also cause trouble under the hood. Pay close attention to your fluids throughout the summer, especially your coolant. This is one of the best ways to protect your car from sun and prevent it from overheating. It’s best to stash a spare bottle of coolant in the boot for emergencies. The same goes for fluids like oil, which can also run dry in the hot summer months.

Leave your windows open

Depending on where you’re parked, it can be a good idea to leave your windows open a crack as long as it’s safe to do so. This can increase airflow on scorching hot days and help lower the internal temperature of your car by a few degrees. In the height of summer, this can make all the difference when it comes to protecting your upholstery and returning to a car that doesn’t feel like a sauna!

With regular maintenance and a good understanding of the risks, it’s easy to protect cars from sun.

Enjoy a sun-drenched summer with My Car Credit

Thinking of upgrading your set of wheels this summer? Whether you’re on the search for a road-trip ready SUV or a compact city commuter, My Car Credit has you covered with the best rates on auto finance. Use our cost of car finance calculator to crunch your numbers, then get in touch with a team member to discuss options like Personal Contract Purchase (PCP) and Hire Purchase (HP).

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

What’s the Cheapest Way to Finance a Car?

How Do Balloon Payments Work?

Balloon Payments Explained: What, Why & How

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

protection shade summer uv resistant windscreen

What’s the Best Speed for Fuel Economy?

There are a number of ways to drive more economically. From driving in the highest possible gear (whilst remaining in the speed limit) through to ensuring that your car is maintained, there are strategies for keeping motoring costs as low as possible.

A great way to drive economically is to ensure that you’re driving at the most fuel-efficient speed. But what is the best speed for fuel economy? We break it down below.

Is your car fuel efficient?

If you’re looking for a car loan quote online to secure a more fuel-efficient set of wheels, you’re going to want to check that car’s miles per gallon (MPG).

Miles per gallon refers to the number of miles that a car can travel on a gallon of fuel. An efficient car should do more than 60mpg, with a good average between 50 and 60mpg. That said, this depends on a number of factors.

What impacts a car’s fuel efficiency?

There are a number of variables impacting the fuel efficiency of a vehicle.

The make and model of the car will impact its fuel efficiency. So will everything from poor vehicle maintenance through to towing, oil type, speeding, regularly driving short distances and frequently accelerating or braking too hard.

All of these factors will impact the most fuel-efficient speed of your car.

What is the best speed for fuel economy?

Provided that you practice good driving habits, keep your vehicle up to date with services, and reduce the other behaviours that can affect your fuel economy, your vehicle should be able to travel at its most fuel-efficient speed.

There are different estimations for the best speed for fuel economy. However, as an average, most cars are at maximum fuel efficiency between 45 and 50mph (miles per hour). You can potentially push your car to 55mph to stay fuel efficient, but this will vary between models and according to the factors listed above.

In fact, your fuel economy drops by 14% when driving between 60 and 70mph. This goes to 15.4% when you’re driving from 70 to 80mph.

You’re less fuel-efficient at higher speeds for a number of reasons. Firstly, your car faces higher air and tyre resistance, so the engine has to work harder. Secondly, you’ll be generating higher engine revs.

Remember, the higher your engine revs, the more fuel you use. This is why it’s more fuel-efficient to travel in the highest gear possible within the speed limit.

Find a more economical drive with My Car Credit

If you’re looking for a more fuel-efficient set of wheels, contact My Car Credit to see how we can help. We’ll help you secure affordable car finance that eases the cost of motoring for you – email us on enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Can I Give My Car Back to the Finance Company?

How to Refinance a PCP Balloon Payment

Check for car finance without affecting your credit score

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

efficiency fuel petrol speed

How Much is Fuel Taxed?

The taxation of fuel depends on a number of factors, including VAT and fuel duty, as well as the price of fuel itself.

How does fuel duty impact total fuel taxation?

Fuel duty refers to the tax that’s included in the price paid for either petrol or diesel fuel. Standard 20% VAT is then added on top – and is charged on both the product (fuel) price and the fuel duty.

In the March 2023 Spring Budget, Chancellor Jeremy Hunt confirmed a twelve-month extension to the current fuel duty cut of 5pence per litre. This was extended in order to ease the rising cost of fuel on British drivers, who can take to British roads knowing that fuel duty won’t rise until April 2024.

Hunt also extended the fuel duty freeze for a thirteenth consecutive year. In practice, this means drivers of both petrol and diesel vehicles currently pay a flat duty tax of 52.95pence per litre for the next year, down from what could have been 57.95pence per litre.

How much is fuel taxed?

The exact figure on fuel taxation is variable, contingent on both the fuel price and fuel duty tax, with VAT on top.

Since June 2023, the total taxation amount of fuel has been rising, reaching 53.61% for petrol and 53.32% for diesel for the penultimate week of July 2023.

As an average, total taxation on fuel comes to an average of around 49% of the final pump price for petrol, and 46% for diesel.

Ease the cost of driving with car finance

If you’re looking to upgrade your car to a more economical model to help with driving costs, My Car Credit can help. Get a car loan quote online or email our team today on enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

What is the Oldest Car a Bank Will Finance?

Car Finance for First Time Drivers: A Beginner’s Guide

How Much Does Car Finance Cost? Check Now!

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

diesel fuel petrol tax

Why is Diesel More Expensive Than Petrol?

Between increased fuel prices and a rising cost of living, the British public are looking for ways to cut costs across the board. Driving more economically can help to save precious pennies. But if you have a diesel vehicle, you may find yourself frequently frustrated by paying more at the pump compared to petrol models. What factors influence this price disparity?

Why is diesel more expensive than petrol?

Diesel vehicles have greater fuel efficiency and better miles per gallon than petrol equivalents – particularly over longer distances. However, despite this fuel efficiency, diesel is still more expensive than petrol. Why is this?

Import prices

Aside from the market cost of crude oil itself, another factor that impacts that fuel’s overall cost is its import and delivery prices.

Without diving deep into chemistry, diesel has larger molecules than petrol. As such, it’s heavier, which means it’s more expensive to import and deliver to fuel stations nationwide. This reflects in the cost of diesel itself.

What’s more, domestic refineries of diesel have often struggled to meet the demand of diesel drivers. As a result, the UK has to import more diesel from other countries. This drives up the fuel’s prices (as well as its import and transportation costs), which retailers pass onto customers to cover.

A complex refinement process

Diesel requires a number of complex additives for its refinement process. These are expensive, which pushes the price of the fuel up.

Scarcity and reduced production

In April 2023, the Organisation of Petroleum Exporting Countries (OPEC) announced cuts to their oil production. This was positioned as a move to support market stability. This reduction in global oil supply had the knock-on effect of raising the price of existing fuel resources, including diesel and petrol.

Variation in seasonal fuel demand

At the end of the summer ‘driving season’, retailers often find themselves with a surplus of petrol, which frequently can’t be exported. Retailers will therefore drop the price of the petrol, further widening the disparity in cost between diesel and petrol.

Why are diesel cars more expensive than petrol?

Besides the diesel itself costing more than petrol, diesel cars are also more expensive to run than their petrol equivalents.

In 2018, the UK government introduced a ‘diesel tax’ designed to target air pollution. Diesel cars are more polluting than petrol models – they release four times more nitrogen dioxide, and 22 times more particulate matter. This tax was introduced to disincentivise drivers from choosing diesel vehicles.

Upgrade your diesel vehicle with My Car Credit

If you’re looking to get behind the wheel of a petrol car, My Car Credit can help. Use our car finance checker for a no-obligation quote in mere minutes, or email us today on enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Advantages and Disadvantages of PCP Car Finance

Bank Loan or PCP: Which is Right for You?

How Do Balloon Payments Work?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

demand diesel fuel petrol save money

How & Where to Find the Cheapest Petrol Near You

The price of fuel remains high. Many British motorists are on the hunt for money-saving tips and tricks to help keep driving costs down. From shopping around for better insurance premiums to implementing different driving strategies, there are any number of ways to make driving more economical. But when it comes to cutting driving costs, finding cheaper fuel is the way to go.

If you’re looking for how and where to find the cheapest petrol near you, this article will help. We’ve put together a list of the savviest tools and techniques for locating the cheapest fuel near you – read on for more.

How to find the cheapest petrol near you

The myRAC App

The myRAC app promises to help you save up to 6p a litre every time you fill your car up with the Fuel Finder feature. Free to download, this app allows you search within two, five, or 10 miles to secure the cheapest petrol near you.

The myRAC app gets this data from Experian Catalist, which details fuel prices UK-wide. Check the app at 8:00am every day for the most up-to-date prices, and plan your next fuel stop accordingly.

Fuelio

Fuelio is another petrol cost tracker available for Android and Apple. As well as providing crowdsourced information on local fuel stations and prices, you can also track your fill-ups, fuel consumption, mileage, and more in the app.

PetrolPrices website

PetrolPrices is a reliable (and free) website and app that allows you to find cheap petrol and diesel near you. Users input details like their postcode and town, and the website will provide information on nearby fuel stations, as well as comparing the price of fuel at each.

Online fuel price comparison tools

If you’re looking to find the cheapest petrol near you, you can also use an online fuel price comparison tool.

Where can you find the cheapest petrol?

Any of the above tools will help you to find the fuel stations with the cheapest petrol or diesel near you.

However, as a general rule, it’s safe to assume that you’ll find cheaper fuel at supermarket fuel stations compared to motorway fuel stations. As the RAC’s fuel watch initiative shows, you’ll be charged a lower premium on petrol from a supermarket fuel station compared to a motorway station.

The average cost of supermarket fuel tends to be below the UK average, whilst motorway fuel stations charge a significant premium. If you have a long journey planned, try to plan ahead and avoid filling up on a motorway, hitting a supermarket forecourt instead.

UK fuel prices – how to stay informed

If you’re keen to keep an eye on the price of fuel in the UK, there are a number of tools you can use.

The RAC’s fuel watch initiative surveys the daily average price of petrol and diesel across the UK, as well as evaluating average fuel costs at supermarkets and motorway forecourts. It provides a useful overview of nationwide fuel prices.

For a weekly overview of fuel prices around the UK, you can check Gov.uk. The CMA (Competition and Markets Authority) has also announced recent plans to establish a fuel finder scheme. The fuel monitor scheme promises to monitor fuel prices and margins to allow drivers to find cheap fuel near them.

Alternatively, the AA provides monthly fuel price reports. These detail the average regional price for a litre of petrol, diesel, or LPG, and you can find reports reaching back to 2017, too.

Other tips for filling up cheaply

Remember to take advantage of loyalty schemes. Many fuel stations – including those at supermarkets – offer loyalty schemes. These are worth signing up to, as it can help to save you valuable cash.

Don’t be fooled by the promise of ‘premium’ or ‘high performance’ fuels, either. Unless you have a high-performance car, these fuels are unlikely to make any difference to your car’s performance. You’ll be paying more money for minimal impact.

Find finance for an economical car

If you’re looking to upgrade to a more economical set of wheels, find out how My Car Credit can help. Use our car loan calculator to get a no-obligation quote in minutes, or find out more by emailing enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

8 Benefits of Getting an Electric Car on Finance

How Much Car Finance Do I Qualify For?

Balloon Payments Explained: What, Why & How

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

fuel maps petrol save money

How Much Does It Cost to Drive – 4 Key Factors

As of November 2022, around 80% of British drivers were looking to save money on driving. That adds up to over 30 million British drivers trying to find ways to take to the road in a more efficient and economical fashion.

There are lots of factors that impact how much it costs to drive. Everything from a car’s insurance through to its maintenance adds up. That said, this article will specifically look at the impact that fuel has on how much it costs to drive, helping you to make savvier choices when you next hit the pump.

How does fuel impact how much it costs to drive?

There are four main factors that will impact the fuel cost per mile of your vehicle.

Fuel price

The cost of fuel is probably the biggest driving expense. Fuel prices fluctuate regularly. The price of fuel will vary because of combination of factors:

The price of crude oil. The wholesale price of crude oil is the biggest factor in determining overall fuel price.
Fuel duty and VAT. These are taxes that drivers have to pay on top of the cost of crude oil.
Fuel prices are also dictated by the costs involved in their delivery.
Retailer profit. Companies want to make a profit from any fuel they sell. As such, they’ll add a markup on the wholesale price of oil – typically anywhere from 5 and 10%.
This refers to the ethanol content in the fuel, which can impact overall fuel price.
The strength of the pound (sterling).

Another factor that determines fuel prices is regional variation. In rural locations with fewer fuel stations, prices may be higher, as businesses need to cover their overheads and have a monopoly market. Alternatively, in urban areas with a high number of fuel stations, prices may be lower in order to be more competitive.

Whilst you can’t control the price or ethanol content of crude oil, you can carefully plan your next trip to the pump, avoiding those retailers who heavily mark-up fuel.

Fuel type

The type of fuel your car runs on will determine its overall running cost. Diesel vehicles are more economic for long distances, but are more expensive overall. For shorter, stop-start journeys, petrol or electric vehicles will be more economical.

Vehicular efficiency

MPG refers to a car’s ‘miles per gallon’, and it indicates your car’s fuel efficiency. The higher the MPG, the less fuel consumed by your car when you drive. Higher MPG cars are therefore more fuel efficient and economical.

Driving style

Individual driving style and choices can help to reduce the cost of driving.

Avoiding intense acceleration, driving smoothly, using gears sensibly, and planning your route ahead so as to avoid traffic are more efficient and therefore economic driving styles. Don’t forget to avoid using the air conditioner unnecessarily and reduce vehicular weight, too.

How much does it cost to drive?

There’s no one straight answer for how much it costs to drive. This depends on a number of factors, ranging from the type of car you have through to the cost of fuel.

If you want a figure on how much you’re likely paying to drive, there are plenty of fuel cost calculators online. These handy tools allow you to input information like your car make and model or registration plate and your annual mileage. From there, they’ll provide an approximate figure of how much it costs you to drive.

Alternatively, you can use the following formula yourself in order to establish your fuel cost per mile:

Cost per mile (pence) = Litres x Fuel price / Number of miles

To work out the annual running cost of your vehicle, you can use this formula:

Annual running cost = Cost per mile x Average mileage

How can I find cheaper fuel?

Take into account the factors listed above to try and shop around for the most economic fuel type for you.

Remember that fuel is typically cheaper at supermarkets, and premiums will be whacked onto motorway fuel stations. Avoid ‘premium’ fuel types, which typically offer little advantage to cars unless they’re performance models.

If you’re looking for a way to monitor the average price of fuel at different retailers, be sure to check out the RAC’s Fuel Watch initiative.

Find a more economical drive with My Car Credit

If you’re looking for a more economical and efficient car, check your car finance eligibility or contact My Car Credit on enquiries@mycarcredit.co.uk today.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

What is a Balloon Payment on a Car Loan?

How Does Auto Finance Work?

No Deposit Car Finance – How Does it Work?

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

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Are Fuel Prices Coming Down?

Between surges in cost-of-living and inflation rates, many British drivers are looking to cut costs on motoring. One of the biggest driving expenses is fuel, which reached eye-watering levels in 2022 as a result of strains to the global supply of fuel.

But are fuel prices coming down? And if so, what kind of fuel costs are UK drivers facing?

How to check cost of fuel

The price of fuel varies based on a number of factors. These include everything from the wholesale price of the fuel itself through to taxation and retailer premiums.

If you’re looking to stay on top of daily fluctuations to fuel prices, add the RAC’s Fuel Watch initiative to your bookmarks. This gives you the average nationwide price of both petrol and diesel, and their Fuel Finder feature can help you locate the cheapest pump near you.

Are fuel prices coming down?

As per the RAC’s data, the current UK average for petrol hovers around 143 pence, and 144 pence for diesel. This is predicted to fall over the coming weeks.

These figures demonstrate a marked reduction in fuel prices compared to July 2022. RAC data reveals that drivers paid 191.43 pence for unleaded petrol and 199.07 pence for unleaded diesel on 1 July 2022.

Average fuel prices for 2023 are reducing compared to 2022, but remain high compared to previous years. In 2021 for example, the average cost of unleaded was 133.36 pence and diesel was 136.05 pence.

As such, although fuel prices are coming down, they remain higher on average than previous years.

Finance a more economical drive

Establish your car finance eligibility and kickstart your journey to driving more economically with My Car Credit. Email us on enquiries@mycarcredit.co.uk to find out more.

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

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7 Ways to Save Money on Fuel

There are a number of ways to keep driving costs down. Before you even take to the road, you want to ensure that your tyre pressure is correct, that you’re carrying as little weight as possible, and that your vehicle is up to date with any servicing.

But if you feel that you’ve done all you can to save money before you’re even behind the wheel, then it’s wise to also know how to save money on fuel once you’re driving. We’ve put together our top tips for keeping motoring costs low.

How to save money on fuel – 7 tips

Shop around

Get to know the fuel stations in your local area. Saving a few pennies per litre may seem pointless at first, but it all adds up to save you cash in the long run.

It’s not worth taking a serious diversion to fill up, but staying on top of any changes to fuel prices for stations nearby can help you to choose wisely.

Traditionally, fuel is cheaper at supermarkets. Try to make use of any fuel retailer loyalty cards, and steer clear of motorway service stations.

Choose fuel wisely

Once you’ve established the best fuel station for your budget and location, choose your fuel type sensibly.

Many retailers offer ‘premium’ fuels promising everything from better performance to engine protection. These premium fuels are more expensive, often costing anything from 10 to 15 pence more than normal fuels.

But unless you’re driving a top-of-the-range performance vehicle, you’re unlikely to notice these benefits.

Avoid excessive speed

If you drive at speed, you’ll use more fuel.

Remember that the faster an engine spins, the more fuel it uses. Stick to the speed limit and drive in the highest possible gear to ensure that you have the lowest revs. Try and keep your revs between 1500 and 2500RPM for a petrol engine, and 1200 and 2000RPM for a diesel engine.

Drive smoothly and watch for hazards

Avoid intense acceleration and throttling the engine if you can. You may have to brake harshly at times in order to avoid hazards, but it’s ideally best avoided.

Try and read the road in front of you and be aware of any upcoming hazards at all times. Remember to use ‘LADA’ (look, assess, decide and act) when assessing the road. When you’re facing junctions and crossings, you can judge how best to approach in order to minimise any sudden braking or acceleration.

Maintaining momentum is key if you want to save money on fuel. Your engine is least efficient when pulling away, so if you can keep the car rolling safely, this is preferable. For example, if you’re approaching traffic lights, try to leave the car in gear so that it coasts to a stop, rather than braking.

Use gears sensibly

As well as using your gears to maintain momentum and reduce the need for sudden acceleration or braking, you can also strategically use them to improve fuel efficiency.

If your car has a manual gearbox, you don’t need to use each gear when accelerating. You can ‘short shift’, meaning that you skip between first to third or second to fourth and so on. This can help to reduce fuel consumption.

Alternatively, many new models have a gear-shift indicator or ‘eco’ driving mode. This helps you to change gear at the most economical time, and is worth paying attention to when you’re on the road.

Park wisely

If you can find a parking spot that you can drive forwards out of, this can help you to save fuel. Reversing manoeuvres are less fuel efficient, so taking the time to find a good parking spot makes a difference.

Drive gently in the cold

In the colder months, you want to be driving as carefully as possible. Engines are significantly less efficient when they’re cold.

That said, leaving your car to warm up will burn up excess fuel, and may increase risk of engine wear over time. Most modern cars are designed to operate from the moment the key is turned, so you shouldn’t need this ‘warm up’ period. Drive slowly when you first start the car up, too.

Finance a fuel-efficient car with My Car Credit

If you’re looking to upgrade to a more fuel-efficient vehicle, email My Car Credit on enquiries@mycarcredit.co.uk today. We can even find car finance for drivers with poor credit ratings. Start saving money on your vehicle today.

Rates from 9.9% APR. Representative APR 10.9%

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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There are a number of ways to drive more economically. From driving in the highest possible gear (whilst remaining in the speed limit) through to ensuring that your car is maintained, there are strategies for keeping motoring costs as low as possible.

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