Cars are a basic need in our daily lives. Unfortunately, they can cost us a substantial amount of money due to expensive insurance costs, rising gas prices, maintenance fees and all the necessary repairs. We’re therefore offering five simple ways to reduce your overall vehicle expenses.
Drive an Older Vehicle
New cars can depreciate by up to 15% within the first year – and they are often worth less than their RRP from the moment you drive them away from a dealership. The vehicle will also depreciate by approximately 55% after only 5 years. It might, therefore, be a wise financial move to drive an older vehicle, such as one of the many used Ford Fiesta models. As a result, you won’t lose nearly as much money should you choose to sell a car in the future.
Regular Car Maintenance
Avoid expensive repair costs by sticking to a regular maintenance schedule. For instance, you should always check your fluid levels and tyre condition each time you fill your vehicle with gas. It’s also recommended that you change your oil and check the car’s battery, wipers and tread depth either every three months or 3,000 miles. Once you reach more than 7,500 miles, check the brake pad wear and rotate and balance your tyres. Replace both the air filters and transmission fluid once you’ve added 15,000 miles onto the clock. You must also allow a mechanic to perform a thorough maintenance check on your vehicle.
Lower Your Car Insurance
Car insurance can be costly, which is why you should look for the best insurance quotes every year to reduce your outgoings. We recommend browsing the market to discover the best quotes from a different car insurance agency. Switching to another provider could help you save a substantial amount of money each year, especially if you have made no claims. It also might be beneficial to telephone your current car insurance company to ask for a discount to retain your loyalty. A car insurer might also be willing to provide a discount for seniors, students or vehicles that incorporate anti-theft devices, dashboard cameras or anti-lock brakes.
Do you want to save money on gas? Only drive a car when necessary. Driving your car less will not only save you money on gas, but it will prevent wear and tear on your car or expensive replacement part fees. What’s more, the more you drive your car, the quicker it will depreciate. So drive less – you can do this by taking the bus to work or consider car sharing with a colleague on a lengthy commute to work.
Find the Best Repair Deals
Unfortunately, not every mechanic will provide you with the best deal on a car repair. It’s therefore advisable to shop around to discover the best deal on the market for a repair or replacement. Ask a mechanic for a quotation before you agree to a repair service, so you can make an informed choice.