Five Ways to Save Money When You Drive
Vintage Sports Car (Photo credit: StockMonkeys.com)
Fuel prices are rising; insurance costs are rising; the overall cost of ownership on most vehicles is rising, so what can a car owner do to be able to afford their automobile? There are many things that consumers can do to help save money on auto expenses including changing their driving habits, budgeting and lowering parts of the auto insurance policy. Here are five uncomplicated tips that will help save money on many auto expenses.
5. Change Your Driving Habits
Driving habits may not seem like much when it comes to your budget, but when you reduce your speed by just 10 miles per hour on the highway, you will get exceptionally better fuel economy. Stop and go traffic is also hard on fuel economy. If you drive a vehicle equipped with a manual transmission, you can simply coast in neutral which will reduce the strain on your engine.
4. Keep Up On Maintenance
One thing that car owners think is expensive is the maintenance on their vehicle. When you keep up on the maintenance, you save money on future repairs. It is a fact that when oil changes are completed and fluids are changed and flushed as recommended by the manufacturer you add thousands of miles on the life of the vehicle. Additionally, when you keep a good record of the maintenance done, then you are also maintaining a higher resale value on your vehicle.
3. Splurge on the Extended Warranty
Most car dealerships will offer an extended warranty when you purchase a new or used car. Most people think they will never need it, that it is a luxury that costs them too much to get. What most people do not realize is that the average extended warranty will last at least 5 years and will cost about $1,500. This may seem like a lot, but it on just one repair, it will pay for itself. Even though this will cost you more up front, in the long run it will save you thousands of dollars throughout the life of your car.
2. Carpool When you Can
If you live in an area where you have multiple co-workers, you can all save money by carpooling to and from work. When you are able to split the driving between two, three or even four of you, you are still going to work five days a week but only using your car to get there a day or two a week. This dramatically reduces the average mileage on your vehicle; which extends the life of the vehicle.
1. Only Buy the Insurance you Need
The top way that car owners can save money is by reducing their insurance policy. If you have recently paid off your vehicle, you can take off the full coverage insurance. While all vehicles require liability insurance, only those that are financed are required to carry full coverage insurance at all times. By raising the deductible or dropping down to liability only, you can bring your insurance costs down to about half of what you pay now.
There are many things you can do to save money while owning a vehicle. As the costs go up, you can buckle down to eliminate the costs you do not need and simply reduce the costs that you do need. While some things will cost money up front, in the long run they will save you more than what you spend.
Kara Fielder is a working mom with two kids who understands the importance of frugal living. She enjoys sharing her tips and tricks by blogging for a number of websites. Click for codes and coupons from cheapsally.com.
Category: Saving Money
