After home expenses, car expenses are one of the biggest monthly costs for most families. Not only is the initial investment of buying a car one of the biggest purchases people make in addition to buying their home, but it’s an ongoing expense that can add up quickly. When you incorporate paying for insurance, parking, gas, and car payments, you can find yourself easily spending thousands a month.
Unless you have an unlimited income, chances are that it’s in your best interest to cut your expenses down as much as possible. So how do you lower your cost of ownership each month? Take al look at some of the most effective ways to pay less for your car expenses.
Save On Insurance
Rather than settling on the first insurance policy that you find online, you should shop around a little. Comparing several policies before you make your final decision can have big rewards. You can save as much as hundreds a year by comparing different deals.
You may even be eligible for government insurance, depending on your income.
Drive Smarter
You can save a considerable amount on gas by being a smarter driver. Changing your driving habits can save you a lot of money at the gas station. When you speed, hit the brakes, and rapidly accelerate, you’re wasting gas. When you regularly drive aggressively making these driving mistakes, you can significantly increase your monthly gas mileage.
Instead, cruise at a steady 50mph when you can. Every 5 miles per hour over 50 that you drive is costing you approximately an extra 20 center per gallon of gas.
You should also stop leaving the car engine running if you’re parked and waiting. Sitting idle can waste as much as half a gallon of gas per hour. However, when you turn your car off and restart it, you’ll use much less.
Turn Off The Air Conditioner
If you live in a warm climate, you may be tempted to leave the air conditioner on. However, using an air conditioner can significantly increase your fuel costs. Instead of automatically reaching for the temperature control as soon as you get in your car, try to settle for an open window first.
Driving with the windows open will save you a lot more money long term.
Keep Your Tires Full of Air
Without enough tire pressure in your tires, you can burn through a considerable amount of gas. Refer to your car owners manual to determine the ideal amount of air for your particular car model.
Driving with tires that need to be inflated can put you out up to as much as $1000 a year in fuel costs!