You need to run to the grocery store. Or drop your son off for football practice. Or head out for an evening of fun with friends. How do you get there?
For most of us, jumping in the car and heading out to run our errands is practically second-nature these days. We leave the house with keys in hand, ready to face the day and deal with whatever errands may pop up. We don’t usually think of the costs associated with our car (unless we’re filling up at the pump!). But did you know that there are several things you can do to help save money on your vehicle and its maintenance.
When you’re buying a car:
- Consider the vehicle with the best gas mileage. Gas is going to be one of the priciest items associated with your vehicle, so look for opportunities to get the type of car you want, while at the same time minimizing future expenses.
- Do your research. With numerous choices on the car-buying market, and with the power of the Internet, you have more options than ever to get the best possible car. Read consumer ratings and reviews on the vehicle’s reliability, so you can find the auto that will last you the longest and will be the most reliable.
- Get the auto loan that fits your car-buying needs. Don’t just accept the first loan offer you receive. Instead, take time to research these options as well, making sure you get a low rate, the right term and the best overall offer.
When you’re driving your car:
- Don’t neglect small issues. Don’t think that if you ignore that funny noise, it will just go away. Instead, consider getting those “little issues” checked out before they turn into bigger, and costlier, problems.
- Change your oil and air filters regularly. Your owner’s manual will give you the appropriate schedule for your vehicle, which can, in turn, help your car run more smoothly and reduce wear and tear on your engine.
- Use the appropriate gas for your vehicle. If your car calls for premium gas, then make sure you’re putting that fuel into your tank. However, if premium isn’t required, you may want to consider just sticking to the regular fuel and saving the extra money.
- Check your tires. Did you know that making sure your tires are properly inflated can actually save you gas money? Driving on low tires can actually cause you to lose 6 percent in gas mileage for every pound of under-inflation.
Whether you’re driving all day or not, one of the best ways to save money on your vehicle is to refinance your loan to a lower rate. You’ll save money while you’re driving the same vehicle. Use a free loan calculator online (your financial institution may offer one) to determine how much you could save with a lower auto loan rate.
Don’t let car expenses drive you crazy! Instead, cruise to a better financial future with these money saving tips!
