In the past century, owning a car has gone from being a luxury to a necessity, with the average number of cars per household in the U.S. at 1.88 in 2017. While car ownership is more prevalent these days, it still is an expensive proposition. From the initial cost of the car and insurance, to the price of gas and maintenance, when you add it all up, the cost of driving is considerable.
There are definitely things you can do to get the most value from your investment, beginning with buying the right car. Make sure the car you select is dependable. It is also a good idea to choose one that delivers good fuel economy. Most importantly, during the car buying process, be honest and realistic about your budget so you aren’t weighed down with monthly payments you cannot afford.
Once you have purchased your vehicle and insurance, the opportunities to save don’t end. There are additional ways you can lower the cost of driving that will provide you with a little extra financial breathing room.
- Make sure you stick with a regular car maintenance schedule.
Following the regular schedule of recommended maintenance will not only keep your car running more dependably, it will decrease the cost of repairs and replacements for preventable issues. While you do have to pay for things like tire rotation, oil changes, and wheel alignment, these costs are far less than the major problems that will result from neglecting maintenance.
Regular maintenance typically includes services like brake checks and service, wheel alignment, tire rotation, oil filter changes, fluid checks, air filter changes and brake checks. Always read check your owner’s manual for your car’s specific requirements.
- Make changes to your driving habits.
It is actually surprising how much money you can save by making some changes to your driving habits. Ride sharing will save you gas and mileage on your car. Planning shopping trips and errands can also help you consolidate trips for additional savings. If you are not familiar with the route options when driving somewhere, use an app to help you determine the most efficient way to reach your destination.
- Optimize your fuel efficiency.
Aside from buying a car with good gas mileage, there are other things you can do to improve your fuel efficiency. Avoid jackrabbit starts – make it a habit to accelerate gently. Do not use your car as a storage facility. The extra weight of a loaded trunk will have an impact on your fuel economy. Lastly, keep your tires inflated to the recommended pressure. This will improve fuel efficiency and extend the life of your tires.