Owning a car is considered to be one of your highest expenses you make every year. If you carefully calculate, you might even discover the fact that you could have been another car in what you spent on your current one. Most of the people do not realize that these expenses are not inevitable, they can be reduced, controlled and some of them even prevented. Especially, if you owning cars more than one, these can be quite high but there is a solution. Here you find different aspects where you can save money on your car expenses.
Save Money with Car Insurance
Car Insurance surely includes among the most necessary things to do whenever you a buy a new car. But it also includes as a major car expense as well. Also, here are some ways you can save money on car insurance
- First of all, it is great to get cheap car insurance at least that is something you should look around for. According to the reports, very few Americans really look around or research on basis of insurance cost. That’s why they end up giving expensive car insurance premiums. You must do your research, shop around and keep looking for cheap renew.
- Communicate with your Insurance agent and find out how much money you can save by creating a deductible on your car insurance policy. Sometime, it is quite an easy way to save your money on car insurance premiums. You might raise deductible costing $200-$600 which ultimately saves around 10% to 30% of insurance premiums.
- Drop insurance on your older cars, especially if they are any older than 10 years. You might be giving as much repairing cost as much you giving the premiums. Most importantly, you can also decide to at least drop collision and other kinds of coverages, not liability coverage though. Or if you are buying a new car along with getting a fresh auto insurance quote, try to save as much money you can on the previous old car.
Save Money on Fuel
One of the most expensive aspects of driving a car is fuel cost where you might think that there is no way to reduce that. Well, apparently there is so much that you can do to lower your fuel consumption and increase your car mileage and efficiency. Here are some steps which can reduce 20%-30% fuel consumption.
- Having cheap car insurance doesn’t allow you to not care about car expenses or fuel consumption. Rather you should be more aware of that and drive sensibly to avoid any kind of over-speeding, hard braking and fast acceleration. These are the causes of major wastage of fuel. According to reports, you can save around $477 a year if you drive sensibly.
- You must avoid idling as always make sure to turn off the engine if a car is parked or waiting. You should know idling takes away like a quarter to half-gallon of car fuel every hour. Restarting your car again takes like 10 seconds of your fuel consumption time. This can be one of the easiest steps you can take to reduce your car expenses, easier than even applying for online car insurance, but that is important too.
- Make sure your car tires are inflated and have proper amount of pressure. This is essential as it can improve your gas mileage by percentage like 3.3% at minimum. With this alone you can save like $140 per year.
- You should consider using less octane gas unless your car features high-performance engine or you might be recommended by the manufacturer itself. You can get away with less expensive gas to save the cost on the premium gases more than 15% on average. You can potentially save around $200 per year.
Save Money on Maintenance
This is probably one of the most dominant aspects where you can save expenses on your cars most. Regular maintenance can itself save your uncountable amount of money per year. There can be so many examples to be told depicting that checking on your car; keep on maintenance can save like minimum $2000. Even you have got the great auto insurance quote, keep checking for repairs and maintenance will prevent sudden or unexpected expenses on car which might cost you fortune. Just wonder if you can prevent spoiling or degrading of any one automobile part of your car, how much that going to save you?
Save Money with Depreciation/ Reselling
Saving money with Car Depreciation is not exactly about saving cash but it you save decreasing sales value of your car. Car depreciation is something when you car started decreasing its value over time which is going to effect on the reselling of the car. If your car is highly depreciated over time, you won’t be getting much money selling it. The loosing of potential earning money from selling your car is same as unable to save money. You should control that to get the highest reselling value for your car.
Better wait for the cheap car insurance period to be over or settle before you sell it. One of the easy solutions to deal with depreciation is buying the cars which are already in their first year. That means to buy a used car, so you won’t be facing the 20% to 30% depreciation drop for first two-three years. You can buy 2-3 years used car and sell it when reaches at 4-5 years age. In this way actually, you are going to drive the cars when they almost new in relatively very less price and earn money by reselling it after few years down.
It is also necessary to keep looking for high resale values. You should predict how much money it is going to give you after certain years when you sell it. Buying the car which has great resale value is the smartest move to save money or earn money from your cars.