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From the Mouth of Martin: Top Tips to Slash the Cost of Motoring - #26

Strap yourselves in wannabe petrol heads. With the help of money saving expert, Martin Lewis, Book Theory Test Today is hitting the road with 50 top tips that will cut your motoring costs. Tune in each & every week for a new tip and remember to share with friends and family and slash the cost of motoring. This week we’re looking at cutting parking costs with a private space. You stand to cut the cost of motoring substantially by securing a rental agreement for a parking space.

Cut the cost of motoring tip #26 – Cut the cost of parking with a private space

Book Theory Test Today says: “By now, you’re probably noticing that parking adds a significant amount to the cost of motoring. However, if you travel to work by car, pay for monthly parking with a car parking chain or pay premium prices to secure a parking space at a football stadium, you could potentially cut the cost of parking by renting a private space.” For instance, you could approach your workplace and offer to pay a fee to rent a space on company land for a year. Compared to paying daily car parking fees at a multi-storey, a fixed fee for a year’s parking could save you a significant amount of cash.

How do I find out about such spaces?  

Money saving expert, Martin Lewis, recommends Park Let’s price guide tool, which allows you to search for guideline UK parking costs on a map. Simply drag the area of the map you would like to park in under the ‘X’. By doing this, you will discover the best average parking prices that Park Let has to offer. However, even if the savings are good don’t stop there. Use the first cost you get as a benchmark to beat and find an even better deal. Persistence will help you to further cut the cost of motoring. Once you’re satisfied that you have got the best price you can find on Park Let, compare it with prices given on sites such as Just Park, Your Parking Space and Park On My Drive. If you’d like to dig deeper, Gumtree is a good place to try. However, although a private parking space can help to reduce the cost of motoring, it does throw up an issue of vehicle security. If you drive a flashy looking motor, be sure to thoroughly research the area in which you’re looking to rent a private space.    

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