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Costs To Consider With Owning a Car

Cost of owning a car
Photo by Michael Longmire on Unsplash

The blog this week is about buying a car and then factoring in the running costs over the year. Buying a Volvo or Toyota and then running it is a big expense. Before you take the plunge and buy a Toyota or Volvo you need to decide what the benefits would be to you, if you really need one and if you can afford one. It’s not just the initial purchase cost that is involved, it's also the ongoing costs throughout the year. This blog will give you handy tips on how you can save money throughout the year to help keep your outgoings down. Read our tips:

Through extensive research it has been estimated that on average a motorist in the UK spends £3500 a year to simply run their Volvo or Toyota. There is a lot of research you can do beforehand looking at different cars, engine size etc to determine what you can realistically afford to drive. So if you’re thinking of buying or leasing your first car or replacing an old one, it makes sense to think carefully about whether you really need it. With more and more people working from home during this pandemic people are finding that their cars are sitting on the drive not being used – if you have a car loan to pay this can be quite debilitating on the finances especially if you have been furloughed. Also when it comes to a return to work what will this look like? Will it be from an office again or will the company prefer you to work from home? Or will there be a split between the two? Maybe you used to use public transport to get to work and now feel anxious about being on potentially over crowded busses or trains and a car is now an option to you, please do your research and do not over stretch your finances. So what will you be spending the estimated £3500 per year on?

Servicing and maintenance

The RAC says that it costs on average £472 to maintain a used Volvo or Toyota over the course of a year. This will include getting the MOT done, and any servicing and repairs required over the course of the year. If the car is an older car it may require more repair work and bear in mind that some of the scheduled servicing will require more work such as Cam Belt changes and breaks and discs. We cannot stress enough that regular maintenance is always going to be cheaper than relying on reactive repairs.

Breakdown cover

The chances are that most drivers have experienced at least one breakdown in their lifetime as a driver. Shop around for the best breakdown cover. Being rescued by a tow truck if you breakdown can cost anything from £150+ - an expense you could ill afford – especially as you will have to pay it in one go. Some bank accounts (if you pay the monthly fee) give you Green Flag cover – worth looking into to see if you already have it. You could also look to see if it is included in your insurance or if there is a deal to be done where you can get a discount.


One of the biggest costs when owning a Volvo or a Toyota will be the loss of value over time – this is called depreciation. Brand new cars lose their value faster than a used car. One way of making sure that you maintain the maximum value of your car when it comes to selling it is to make sure that you get it serviced regularly and get your service book stamped by the independent garage. A Toyota or Volvo that has been well maintained will always command a better price than one that hasn’t been maintained – FACT!! It also makes it more attractive to the potential buyer and you can command a better resale price. When buying a new car look into service costs not just at the dealership but also from independent garages. You can easily cut your servicing costs in half using an independent garage and YOU DO NOT have to use a dealership to maintain your warranty!!!


Another big cost of owning a Volvo or Toyota is the cost of insurance – especially for young drivers. One of the best things to do is to look on a comparison website to compare costs – but always make sure that you are comparing quotes like for like. Sometimes having a bigger excess will help to lower the costs. Always shop around at renewal time – don’t take it for granted that just because your current insurance company was the cheapest for you last year that it will be the cheapest for you this time. A lot of insurance companies make a great offer in your first year hoping you will automatically renew – they leave the best offers for new customers – so it really does pay to shop around! This can save you hundreds of pounds for a few minutes of your time – it makes absolute financial sense!


Another big cost of owning a Volvo or Toyota is the cost of the petrol or diesel – especially if you are just nipping out and doing short journeys around town. Try swapping some of these shorter journeys by walking or using a bike. Read our blog on how you can save money on your petrol and diesel and make your tank of fuel go further – you will see a big difference in your wallet at the end of the month just by changing your driving habits! Some supermarkets give you vouchers for money off a litre at their petrol forecourts – take advantage as this could save you £££’s when filling up and you can also collect reward points on their loyalty schemes. It is also worth noting that if you have a diesel car with a dpf filter you MUST take it on longer journeys so that the dpf filter can perform its re-generation. Regular short journeys will cause no end of problems and a blocked DPF filter can be a very expensive and avoidable repair!


The bigger the engine etc the more the road tax will be, so do your research before you commit to buying as this is another unavoidable annual cost. It may be more prudent to pay for it monthly as you can expect to wait up to 6 weeks for any refunds to be sent to you for the FULL months that are unused.  Happy Safe Motoring Folks!

Here at ACC UK Ltd, Winners of The Motor Trader Independent Garage of The Year 2015, 2019 & 2020,  The Inspire Customer Service Excellence 2016 Award, The Eagle Radio Customer Focus 2017 Business Award, The Workshop Magazine Workshop Manager of the Year 2017 Award, The LiveWire Excellence In Vehicle Servicing 2019 Award and The Aftermarket Excellence Award for Best Website 2019, The Eagle Radio Biz Award – Entrepreneur of the Year 2020 & the SME News Magazine Most Trusted Car Servicing Provider 2020, we pride ourselves on offering an outstanding customer experience for a fraction of the cost of a dealership. Give us a call and let us quote you for your next service or repair on your Volvo or Toyota. We service all areas around Farnborough, Fleet, Aldershot, Farnham, Guildford, Frimley, Camberley, Hook, Sandhurst, Crowthorne, Yateley, Hampshire and Surrey. We offer free collection and drop off services. We also have a fleet of courtesy cars to allow you to get on with your schedule whilst your Volvo or Toyota is with us. Happy Motoring from all at ACC UK Ltd – Independent Volvo & Toyota servicing, repair and MOT specialists based in the heart of Farnborough, Hampshire.