Your car doesn't have to cost a fortune to run – here are a few ways you can cut the cost of owning your car:

Insurance: It may seem obvious but get a number of quotes before you take out insurance. Try using comparison websites but remember that no single website offers quotes from every insurance company. You can increase your voluntary excess to bring down the cost of your insurance and think about whether you need fully comprehensive insurance – if your car's old, it may not be worth it.

Driving style: The biggest influence on fuel consumption is driving style. Basically, the smoother the driving style, the more economical it will be. You’ll also find that fuel consumption increases rapidly when the cruising speed goes up.

Fines: Parking fines can quickly add up, especially if you don't pay within the specified time. Speeding tickets are another unnecessary expense – don't break the limit and you won't get them.

Leave the car at home: If your journey is less than ten miles, the engine won’t reach its normal working temperature. This means higher fuel consumption and more wear and tear to the engine. Instead try to find a car share, use public transport, walk or cycle.

Fuel: This is the biggest day-to-day expense. Shop around for the cheapest fuel and consider using supermarket petrol stations as well – if it's a supermarket you shop at regularly look out for vouchers giving you a few pence off per litre – fill up a whole tank and you could save quite a bit. If you're getting a new car look at the average mpg.

5 Tips

1. Get a good deal on your car insurance.
2. If you're buying a car, investigate the cost of insurance, servicing and fuel consumption.
3. Don't buy a brand new car, opt for a demonstrator or a model that's a year or two old instead.
4. Find the best deal on fuel locally
5. Check your tyre pressure. Under-inflated tyres use up more petrol.