Four Ways to Cut the Cost of Car Ownership

Four Ways to Cut the Cost of Car Ownership

Four Ways to Cut the Cost of Car Ownership

Although there are a number of signs that indicate our economy is back on track, it’s stillprudent to look for new ways to save money. If you’re like most consumers; next to your rent, mortgage and utility bills your next biggest expense is your vehicle(s).

Automobile expenses tend to be related to one of three things – the financing of your vehicle, the everyday maintenance of your vehicle and fuel costs. Of course, many consumers incur all three costs, which is why we’re going to share several ways to save money in each area.

1 – Buy Used

Economists have recently released a report that points to substantial increase in new car sales. This is partly due to overall economic improvement but it also has a lot to do with the drastic incentives that auto manufacturers are giving to new customers. Now before you start thinking of going out and buying a new car let’s look at what this means to you. As good as the new car deals have become, used car deals are even preferable. Why?

It is because the growth in new car sales has created a massive used car surplus. To get rid of this inventory, used car dealers are offering deep discounts on cars that were selling at premiums only a year ago. The good news is that if you do your research you may be able to find such a deep discount that you won’t even need to finance your vehicle purchase. So the first tactic you should consider to cut the cost of vehicle ownership is buying your car used.

2 – Buy Car Parts Wholesale

While everyone knows that you can save money by purchasing a used car, it’s also common knowledge that used cars often require more repairs. However, instead of buying your auto parts from the mechanic and paying exorbitant markups of up to 100% — did you know you can cut out the middle man by buying wholesale auto parts?

It’s true; by purchasing your car parts wholesale on DHgate.com you can put a little cash back into your own pocket.

3 – Save Money on Gas by Comparing Prices Online

Even while taking advantage of the other savings tactics that we’ve discussed, you can save even more money by keeping track of gasoline prices. It’s really easy too. All you have to do is use a mobile app like Gas Buddy to compare gas prices in your vicinity. A few cents here and a few cents there can add up to substantial savings over time.

Another option that you can take advantage of is carpooling. This works especially well if you commute to school or work on a regular basis. The idea behind carpooling is since most people who carpool have the same destination it isn’t necessary for each commuter to individually drive to his destination. Instead, each commuter can ride together and cut fuel costs.

4-Get Regular Preventative Maintenance on Your Vehicle

One thing that many drivers often overlook when trying to cut vehicle costs is the overall condition of their car. This entails making sure that you’re getting regular oil changes, as well as having your engine serviced on a regular basis. Making sure that your fuel system is clean is another way to improve your gas mileage.

We’ve just explored four secrets that can help you cut the cost of vehicle ownership for your household. If you can consistently put these tactics to work your budget will certainly thank you for it.