How to Save Money on Car Expenses
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Save Money on Car Expenses? Gas prices are finally starting to climb again as the COVID-19 pandemic is turning the corner with the vaccinations. People are traveling more and with the laws of supply and demand? Prices jump and the long-term trend is indicating that they will stay high. If you own one or more cars, you understand that saving cash somewhere somehow is important to helping you preserve your budget. The following are some important tips to help you manage your car expenses.
We all know how expensive it is to own a car. The payments, the insurance, the gas…the list goes on and on. But there are ways to save money when you buy or lease your next car–and these savings can add up significantly over time!
How to Save Money on Car Expenses
Review Your Insurance
Look over your insurance. If your car is between two and three thousand dollars, consider canceling your collision coverage. The money you save could then be set aside by you toward a down payment on your next vehicle. You may have coverage for your car at work, or you might be able to shop around and save money with a company like GEICO.
Review your insurance again. Did you know that some states offer discounts on auto insurance if the vehicle is covered by an anti-theft device? An alarm system does not cost much these days (and may even be free to join), and it’s something everyone should really consider adding.
Review your insurance one more time. Don’t forget that you may qualify for a discount if you’re over 25 years old, have lived in the same house for five consecutive years, or are enrolled in a car-sharing program! You could save up to 15% that way!
Stay Under Pressure
The correct pressure that is. Keep your tires suitably inflated. Your gas mileage will fall if your tires are underinflated. Keep your tires at the suggested pressure amounts and your gas mileage should stay stable. Underinflated tires also have higher rolling resistance, which reduces fuel economy, not to mention your overall safety.
Oil Changes
Do not change your oil too often. Unless you drive entirely in the city you do not need to change your oil every 3000 miles. Most cars can last up to 7500 miles between changes. You will, however, still need to change your oil twice yearly even if you drive infrequently.
Some people will save money by not getting their oil changed at, but it is better to spend the $30-50 now or pay a lot more later when you are faced with replacing major engine components that may be worn out from lack of maintenance.
DIY it
Do some minor maintenance yourself. You can change your wipers, the air filter, battery, and replace a tire yourself. If you rely on others, your costs will climb considerably.
If you can do your own engine tune-up, go for it! This one is a little more complicated. If you have been driving your car for at least three years, it is recommended that you get an engine tune-up every 24 months to help keep your car running smoothly and safely. You may want to also consider replacing the plugs in this time frame as well. However, if you drive your car infrequently, an engine tune-up may not be necessary.
Skip the Premium
Use regular gas. If your car requires regular gas, do not indulge in premium. Your car probably will not run any better and you will have paid as much as 50 cents extra per gallon extra.
A higher octane level does not necessarily mean a car will be more fuel-efficient.
Skip the Warranty
Don’t purchase a comprehensive warranty. The amount of money you pay for an extended warranty is usually more than what the warranty is worth. If you feel that a particular car model requires an extended warranty, perhaps you should consider shopping for a vehicle that is much more dependable.
Keep it Clean
You can save plenty of money by washing and waxing your car yourself. Treat yourself to the services of a car wash no more than 2-3 times per year. It can actually be a fun family bonding kind of activity OR a great idea to give the teens as a household chore.
Listen to the Experts
Follow the manufacturer’s recommendations. The manufacturer of your vehicle will know how long parts should last. Change your timing belt before it becomes a problem, your fuel filter as required, and keep an eye on your brakes, tires, and shocks. Most cars built today do not need a complete tune-up for as long as one hundred thousand miles, so do not put down the $250 for a tune-up before one becomes a necessity.
Skip the Dealership
Use a private garage. No, you do not have to take your Chevy to the Chevrolet dealership for service. If you have a decent, local garage that knows your make and model you can typically save money by using them instead.
We aren’t likely to see gas prices below $2 per gallon again, while $3 per gallon may soon be the rule. Supply and demand cannot be controlled, but you can take the above steps to make certain that your car does not cost you more than it should.
Other money saving posts you may find helpful:
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- How to Save Money Grocery Shopping
- How to Save Money on Electric Bill and Other Utilities
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- 10 Ways to Save Money with Receipts
- The Best Ways to Save Money On Clothes
- Save Money on Food by Shopping Online in Bulk
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