We all love to save money, especially when it comes to our cars. Did you know that the average person will spend over $500,000 on vehicles and vehicle-related expenses over their lifetime? Without sacrificing owning a car, there are several ways to save money and cut down on auto costs.
Consider Car Insurance Costs. Research the cost of car insurance before making a car purchase. This may help you to narrow down your top auto picks. Include your auto insurance in the cost of owning a vehicle.
Deductible. While you may have to pay more out of pocket for an accident, an increase in your deductible could save you money on comprehensive coverage costs.
Car Pool. Driving less could qualify you for low mileage insurance rates. You can also split the cost of gas and parking with members that you car pool with, not to mention, it’s good for the environment.
Keep Your Car. When you trade your car in often, you could lose money with low trade-in values and high interest rates.
Small Cars. Small cars generally get better gas mileage and lower insurance rates compared to trucks and SUVs.
Tune-Ups! Tune-ups are cheaper than paying for a large repair that could have been prevented. In addition, your owner’s manual is a great tool for knowing proper tire size, proper timing for oil changes, tire pressure guidelines, and more. Keep your car running safely and at its best performance.