The ongoing costs of owning a car can sometimes literally drive you out of your wits. The average expenses of two-car household ownership in Australia can amount to $15,807 a year. What this means in practical terms is that this is yet another area where you need to think about saving money. Another chore on an endless to-do list. Here’s where a logbook app steps in. Today we’re going to shed light on how a good car logbook app can help you save money on your car expenses. Regardless of whether you’re using your car for business or personal reasons. Brace yourself for some surprising discoveries! # 1: Tax Deductions Image from Download your Tax Time checklist When you say logbook app, the first thing that comes to mind is claiming your car tax deductions. So, we’ll tackle this money-saving feature of logbook apps first. Now, if you’re wondering how a car logbook app helps you with tax deductions, here’s a simple clarification. Most logbook apps will use two methods to record your work-related car expenses: The cents per kilometre and the logbook method. The cents per kilometer allows you to claim a set rate for each business kilometre. Inversely, the logbook method allows you to reimburse the following car operating costs: fuel and oil costs; servicing; registration; insurance expenses; and vehicle depreciation. But the decision of what method you choose will depend on how much you drive your car for business. Say you’re a convenience store owner and you use your own car to drive between different locations, but you don’t travel more than 4,500 business kilometres a year. You’ll choose ATO’s cents per kilometre method. At the end of the tax year, this small hassle will gain you $3,000 back into your pocket. But, say you’re an accountant or a tradie with long drives between clients. Opting for a cents per kilometre method will not qualify as the most lucrative tax return option. Although a 12-week logbook method sounds like a lot of work, it will enable you to claim more tax deductions. But we have some good news! A quality logbook app will remove the hassle even from the dreariest of logbook keeping tasks. A good vehicle expense tracker will automatically track every trip you make. Yes, even if your phone battery dies! It not only simplifies the way you record your business miles for tax return, It also fully automates the logbook method. # 2: Fuel Savings Whenever you’re economising, you do your homework in order to save as much money as you can. So why not do the same when it comes to your car-related expenses? Let’s start with fuel expenses (we can already hear the “Don’t get me started on…” intro to a typical outpouring of fuel-cost-related rage). Did you know fuel costs are the biggest ongoing expense for Aussie car owners? Statistics state that Australians spend roughly $71.50 a week on fuel expenses. Luckily, there are ways to improve your fuel economy! And we don’t only mean looking out for the cheapest gasoline station. They are few and far between, but a good logbook app will also help you spend less on fuel. And we’re not talking small figures. The brains behind GOFAR came up with an ingenious way to improve gas mileage. They found inspiration in the cutting-edge technology used in Formula 1 vehicles. The app works together with an OBD II dongle and the Ray device to enable you to: Receive intuitive feedback for smart driving. Track fuel usage so you know exactly how much money you spend annually on fuel. Save almost 10% on each tank of fuel. Now some hard data coming your way: In 6 tests, the GOFAR Ray delivered an average fuel savings of 9.8% in 80,000km of tests. That’s about 10c off every litre! Some drivers have saved up to 30% with GOFAR. Now, we believe this is something that shouldn’t escape your attention. #3: Repair and Maintenance As a car owner, you’ll have to fork out substantial amounts for annual car maintenance. “The costs of maintaining your car will vary quite a lot as there are so many different things that can go wrong with it. Including tyre replacements, AAA found the average household paid $29.55 each week, or $1,536 each year.” Source: Savings.com.au Then there’s the pricing difference, of course. Repair and maintenance prices will depend on a combination of factors. If you want to save on car repair and maintenance, finding a trusted mechanic is a good place to start. This endeavour is going to require some elbow grease on your part (pun intended). But here’s the best part: A logbook app like GOFAR can save you money on car servicing. How, exactly? The app can help you to skip costly mechanic visits, if the issue is minor. It can spare you from a money- and time-wasting enterprise. Get GOFAR and let it monitor your car health, so you can make repairs on time and save on car servicing. It uses the OBD2 scanner technology to detect car errors and: Send you alerts each time your car has a fault. Explain the faults in plain English so you can practice preventive maintenance. This is how GOFAR works in real life! Check out how Pete saved $700 on mechanics in the video below: # 4: Save on Fines Last but not least, a good car logbook app can help you save on car-related fines. We’ve all been there: the dreaded sight of a soaking wet parking ticket glued to your windshield. So, wouldn’t it be awesome if someone could remind you to pay the fee before time’s up? Sure it would! Likewise, no one’s excited by the idea of forking out for a speeding ticket, or collecting demerit points. Those points are too likely to add up just when you need your car the most. GOFAR can spare you the headache of spending a fortune on car fines. How, exactly? It offers useful features such as: Parking Alerts. Know at all times when and where you parked, to prevent any parking-related inconvenience. Get alerts to avoid parking fines. Insurance and registration reminders. Receive alerts so you NEVER end up driving with an expired rego or insurance again. Set servicing reminders. Stay safe and avoid fines by receiving servicing alerts. Whether it’s checking tyre pressure, changing the oil and oil filters, or any other car-related chore. Speed Alerts. Set optional speed alerts to save on fuel and avoid speeding fines. Get GOFAR and Save Money in a Multitude of Ways What would you do if you were told there’s a single car gadget that can save you big money on your car expenses? You’d probably go ahead and buy it. Let GOFAR do the money-saving chores for you, so you can drive safer and drive cheaper! Just lean back and drive. The points above will help you make an informed decision about buying the right car logbook app. Now, it stands to reason you’d buy an app that maximises your savings on car expenses, doesn’t it? Opt for GOFAR to save on taxes, fuel, servicing, and fines. It’s everything you need, all in one app! See if GOFAR is compatible with your car and get your money-saving logbook app today!