Each week I sit and have a think about all the ways I have saved money and tried to save money. This one was meant to be written last month but somehow I forgot about it. It’s been one of the best savings I have made in recent time.
The background to the story is that when my son turned 17, I got him an application form at the post office so he could apply to get his provisional license and start driving. I don’t know which of us was more excited! To cut a long story short, I also bought him a car so he could get some driving practice in addition to his paid lessons.
I got a friend to take the car to one of these centres that have people certified to examine it and let us know of any faults and give it a proper servicing. After all, I wasn’t interested in learning about brakes, steering columns, chassis quality, and standard safety such as airbags, crumple zones, and seatbelts. I much prefer leaving it to the professionals. In total, I paid £800 for the car and for the initial servicing.
It was a lovely little Peugeot 207 Sport and we enjoyed some fun rides and close calls in it. He was coming on really well with his lessons and with practice and I felt really proud (although my heart was in my mouth) when he drove me to church one day.
Well, before he sat and passed his driving test, the time came for him to go on his planned trip to Thailand and Australia. I then decided that Mr Car had to go.
I had looked around for good insurance deals and found several like those at One Sure Insurance and got one that was quite favourable. Luckily, the policy was up for renewal just before I decided to sell it so selling it saved me around £400.
This is what the savings looked like
Insurance: £400
car sold for £250
MOT £50
Road tax refund £80
Wait, I actually saved myself over £700. I was quite chuffed with that saving.
Each careless pound I spend pushes me further back from paying off my mortgage so I am quite pleased that I bought the car for my son but even more pleased now that it is sold as he goes off to do his studies away at university.
If you still decide to keep your car, have a look here at how Aimee shares frugal ways to run a car.
That is so awesome that you were able to save money by selling your car! I love that you found a way to add value to your bank account and can’t wait to see how it benefits you in the future.