When’s the last time you really took a look at how well you’re spending money on your car? When it comes to the overall costs of automobiles, people tend to assume that there’s little to be done about it. We all know that they’re expensive, so let’s just get on with it. The truth is that there’s tons you could be doing to cut down the costs of owning a car. From how you buy it, to what you do every day and right up to when you sell it.
Be a smarter buyer
Getting a better deal on a car means knowing what deal, exactly to go for. It’s not always the best option to go new, after all. Even a used car that’s half a year old has a lot of depreciation you can benefit from. Some dealers like Eastern Western Motor Group will even display the low mileage cars available in their inventory. By being patient, you’re a lot more likely to see the exact car you want new, but with a majorly reduced price. You should also consider getting any car loans pre-approved before you visit a dealer. Just make sure you have a thorough inspection before you buy any used car.
Make fuel efficiency a must
Whether or not you’ve already bought a car, fuel efficiency should be at the forefront of your mind. Buying a car is when you’re going to have the most influence on how much you’re going to pay each month. But that doesn’t mean you can’t change those costs even after you’ve bought. Besides driving it less, there are plenty of tactics to reduce the gas guzzling quality of a car. New tires with better grip make them cover more surface area on the road, meaning you get further for each drop of fuel consumed. Onboard computers can tweak engine performance as you drive to prioritise fuel consumption. Check out the tweaks that could make you way more fuel efficient.
Keep safety in mind
When it comes to car insurance, there are a few things that you might have trouble changing. If you’re a certain age, your insurance prices will rise. But you can influence it by making your car a lot safer. The more safety features and tech on a car, the safer a bet it is to insurance companies. You should also consider choosing a safer car from the get-go. Sites like the Euro NCAP site can help you choose that safer car.
Be preventative and proactive
By being a lot more on-the-ball with your car maintenance, there are all kind of fiscal benefits. For one, by spotting problems early, and even fixing some, you reduce the price involved in going to the garage. Either you fix it yourself and eliminate the need to take it. Or you take it to the garage earlier, preventing the problem from getting worse and more expensive. Keeping the car in better condition also has a lot of benefits when it comes to preserving the value of the automobile as well.
One of the most effective tips for being a savvier car owner is to be willing to switch things up every now and then. A lot of people will stick with the same insurance provider, the same breakdown services and the same garage year-in, year-out. However, depending on how your circumstances change, you can find that people are willing to give you a better deal. Use sites like Go Compare to find competitors to your service providers. Besides switching to those competitors, you can use them as leverage. You might be able to get a better deal from the AA, for example, by threatening to leave them.
Getting your money’s worth
When it comes to a car and your finances, there are two ways to think about it. The wrong way to think about it is as a consumable. You bought it, you pay for it, you use it. That’s it. You should be thinking of it as an investment, instead. You’ll never make a profit, given that cars always depreciate. You will, however, be able to preserve its value by showing it more love. Protect the seats and upholstery. Take care of scratches and dents sooner rather than later. Make it smell good inside, as well as look good outside. The better care you take of your car, the more you’ll get back for it in the end.
As we’ve demonstrated, there are a lot of savings to be made on car at every stage of ownership. Be a savvier buyer, a more responsible motorist and an investor. Then you’ll find car ownership a lot easier on your wallet.