Fuel for thought: A Q+A with Motorfinity
Everywhere we look, it seems we’re met with the doom and gloom of rising prices. Everything from fuel to our weekly shop is creeping up, but there are things you can do to mitigate some of the additional cost, especially on the road.
We sat down with Daniel Briggs, CEO of Motorfinity to find out more:
What are some things we can do to save fuel or spend less on running our cars?
"Check your tyres! It sounds basic but it really helps. If you’ve got underinflated tyres, there’s more resistance and therefore more fuel required to get from A to B.
Watch your speed! The faster and more aggressively you drive, the more fuel you’ll use. Taking it easier, giving yourself more time to get somewhere and generally slowing down will help you consume less and have a less stressful time on the road, too!
Plan ahead if you’re making a long journey, so that you don’t get caught out in the middle of nowhere with a sky-high petrol station charging over the odds. Generally, it’s cheaper to get fuel from the supermarket.
Opening windows can increase the drag of your car, making it less aerodynamical, meaning you’ll have to stop for fuel more frequently when you’re driving. Air con is actually more economical so remember that before you roll the windows down.
Got loads of heavy stuff in the boot? Take it out! Keep the car as light as possible to keep fuel consumption at a minimum."
What do you think about the argument for electric cars over petrol/diesel in the current climate?
"I think the current gas fuel/electric prices are an anomaly, and understandable considering what’s going on in the world. It’s important not to panic and remember that we won’t be in this situation forever.
The decision between electric vs fuel very much depends on your circumstances, like how you drive or what you do. You can get a very small electric car now like a Fiat 500 or a Vauxhall Corsa-e for a reasonable cost as a low-cost vehicle.
If you’re keen on the environment, then electric cars really are a great choice. They’re becoming much more affordable now too. Whilst the infrastructure in the UK is currently lacking in terms of e-charging points, this is definitely improving! You do need to think differently if you have an electric car. Journeys require more planning, and you need to make sure you know where the nearest charging points are. Once you do, you’ll be onto a winner."
If members are looking for a new car, can you tell us more about the new reg plates?
"Well, when I was growing up, it was only one new reg plate a year that came out in September!
They’ve introduced two reg plate changes per year now. There’s March, which is the main one when it swaps from 22 to 23, and then the September reg which will be 72 this year.
Here at Motorfinity we’ve already seen a big increase in the number of enquiries from people wanting to change their car and have the latest plate. In terms of lead times, we suggest people place their order 6 months or more before the date they’d like their car. You can also specify exactly when you want your car too. On top of that, if suppliers increase the cost of vehicles, your price is secure at the time of order."
How can Motorfinity help our members save when they next upgrade/switch their car?
"We’ve seen the cost of cars going up and discounts reduced over the last few years. Luckily, the discounts for the Blue Light community were really protected during that time, which is excellent – it means that we can still offer really good prices to our customers.
We do still have upwards pressure on interest rates. If you’re financing your car, whilst the cash price could come down, we are seeing interest rates go up. The good news is that we’ve got market-leading interest rates. If you go into a dealership, some of them have APRs edging in double digits, whilst ours is still sitting at 5.9%, which is extremely attractive in the current markets right now.
Don’t forget to head to the Blue Light Card website to view the whole range of vehicle offers through Motorfinity."
What do you think will be the big trend in the motoring world in 2023?
"The trend really is still focused on alternative fuel vehicles. There are electric vehicle manufacturers in China that are bringing out new products. An interesting one is called NIO, which has a removable battery. You can drive it into one of their garages and they remove the battery from below the car, insert a new one that’s fully charged and then when you get back, the battery is re-charged. It’s a really interesting concept.
I also think we’ll see an increase in autonomous vehicle technology. Cars are very technological now, a lot of them contain thousands of semiconductors, on board computers and advanced technology to improve driver safety and I think that trend will only continue to increase over the coming years.”
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