Maintaining a car can become a very expensive duty, both in the short and long run. With inflation and gas prices skyrocketing, it becomes harder to make ends meet, and has many of us wondering where all our money is being spent.
Saving money on your driving experience doesn't necessarily entail buying a $20,000 car instead of a $30,000 one. Obviously this would help your bottom line, but rather than lowering your standards in your choice of car, try shaving a few dollars off of every car-related expense so that you end up with a manageable bill at the end of the year. Follow these simple money-saving tips, and start saving your money for vacations and a bigger entertainment system.
Save money from the start
The first step is to save money on the purchase or lease price of your vehicle. Since buying and leasing prices vary greatly from one dealer to another, it's critical to shop around and find the best deal. Compare (for an equivalent car), find the best basic rate, and try to land a special package or deal if you can.Many dealers also offer insurance and waiver options, which are usually covered in your regular insurance coverage, so make sure to double-check both policies to avoid paying twice for the same plan.
Furthermore, you can easily save a few thousand dollars over the lifespan of your car simply by looking for a low purchase price and/or low financing rates. Another way to save money during the lifetime of your car is by evaluating your car's specs, such as its fuel efficiency and the cost of repairs. Choosing a car with cheaper parts and more economical fuel consumption will save you a lot of money over the years.
When it comes to your car purchase, make sure you do some heavy comparison shopping. Call and visit at least five dealers for price quotes, and let them know that you are calling the competition. The same applies to insurance; shop around and negotiate to find the best possible price. You will end up saving loads of money by knocking up to several hundred dollars off your insurance premium and car payments.
Before you sign on the dotted line, make sure you are aware of all the details and costs involved in the purchase of your automobile because once you've signed the contract, you're liable for the car -- whether you like it or not.
How do you save money once you're driving?
Avoid speeding and parking tickets
The adrenaline rush felt when speeding down the highway is one of the many pleasures of driving, but it comes at a high price. Slow down and avoid paying traffic tickets because they are money thrown out the window.
Also, make sure you read the parking signs and remember to feed the meter before your time expires. As obvious as it seems, most of us still waste a lot of money through negligence.
Use gas sparingly
Controlling your passion for speed also means you should control your acceleration habits. Every time you rev the engine, your gas consumption also increases drastically. If you're the type to pass everybody and boost your RPM in the red zone every time you step on the gas, think twice because it can decrease your fuel economy by as much as two miles per gallon. That's quite a bit of gas over the course of a year.
Another way to save on fuel costs is to make sure you are pumping gas yourself and that you're using the lowest octane called for in your owner's manual. Combine cheaper fuel with proper tire pressure and a well-tuned engine, and you can easily save a few hundred dollars a year on your gas expenditures.
Other ways to save on your gas bill are:
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