Owning and driving a vehicle can be a huge expense. Between insurance, gas costs, parking, and any repairs and upkeep you have to pay for, it can be thousands a month.
There are certain measures you can take to minimize your costs, however. All it takes is familiarizing yourself with exactly what the areas are that you can pull back on, and it’s as simple as making it a habit.
By saving on your vehicle costs each month you could use that money towards other things from that vacation you’ve always wanted. Or put some savings aside for your future.
Here are the best tips for minimizing your auto costs.
Opt For a Small Vehicle
The cost of running a larger vehicle is much greater than something smaller and more economic. For example, the fuel costs of a Lincoln Navigator will run you approximately $400 a month on average, whereas a Lincoln MKZ will run you a bit less because it’s a smaller car.
It’s important to weigh out how much you actually require a larger vehicle on average, and if you don’t think that you need all that space, make a commitment to make the change and downsize on your vehicle. Apart from the fuel benefits, it’s also much easier to park in garages or on the street.
Consider getting a group of colleagues together from work and carpooling together for the commute instead of driving separately each day. Everyone in the carpool group can alternate days being the driver, saving everyone money on fuel costs.
In addition to being a great money saver, it also reduces your carbon footprint, making the world a cleaner place with less pollution. If everyone made an effort to do this every day imagine the impact we could all make on the environment.
Get “Gas” Rewards
Gas can add up quickly for people that do a lot of driving. Sometimes you have to fill your tank as many as 3-4 times a week depending on how much you are driving.
You may want to consider a gas rewards card that gives back points each time that you pay for gas with it. Depending on the rewards system with that particular card, you may be eligible for a free tank of gas or a cheaper rate after a certain amount of transactions.
Take Care Of Your Car
By regularly maintaining your car and doing things like changing the oil and getting tune-ups, you can save yourself thousands on repair costs. The mistake many car owners make is only going to the mechanic for corrective services when they could have saved themselves much more money going for preventative. In addition, they might be able to save money by visiting an auto repair shop that makes use of custom automotive software (you can visit the Xtime homepage to learn more) and provides top-notch services to clients.
Finding new ways to save can be challenging when money is tight, particularly when you are trying to cut back on essentials. The expenses you have associated with your car (including your car loan, insurance, and gas) may seem unavoidable, but with the above tips, let us hope you’ll be able to reduce your spending and save some cash.