10 Ways to Save Money on Vehicle Ownership

Vehicle ownership can end up being more costly than many people initially realize. Maintenance, loan payments, and insurance costs can all add up, not to mention repairs and the cost of fuel. Here are some ways to decrease vehicle ownership expenses while also getting the most out of your car.

Purchase a Car Warranty

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If you are concerned about future repair costs for your vehicle, one way to get peace of mind is by purchasing an after-market car warranty. These warranties can help you pay for repairs that are done on vehicles after the manufacturer’s original warranty has expired. If you are purchasing a used vehicle or a vehicle outside of the warranty period, consider the advantages of an aftermarket car warranty. Learn about one of the most highly rated warranties by reading some car-shield reviews at motor1.com.

Perform Maintenance Regularly

Performing regular maintenance will prolong your vehicle’s life and minimize the money you need to spend on unnecessary repairs. Regular maintenance tasks like checking the oil, replacing air filters, and checking the tire pressure will help avoid damage and prevent trips to your mechanic. Keep a log of maintenance so you can show your mechanic what has been done and increase your resale value in the future.

Learn How to Perform Your Own Maintenance

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You can save money if you learn how to do your own car maintenance. If you need more confidence in your mechanical skills consider starting with easy tasks like checking the oil and changing the windshield wipers. If you have a trusted mechanic or a friend who knows how to do these things you can learn from them. You can also learn by following along with online tutorials. Once you have learned how to do these easy tasks you can start branching out into more difficult skills like changing the oil or replacing your brakes.

Shop Around for Insurance

One way to save money on your vehicle is by shopping around to find cheaper insurance. Many people only shop for insurance when they make their initial vehicle purchase, but it’s a good idea to check prices and benefits regularly to see if it would be a good idea to switch.

Find a Trusted Mechanic

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If you can find a trusted mechanic who is honest about prices and the problems your car is having, you can save a lot of money. If you don’t trust your mechanic, you’re going to have to spend extra time and money getting second opinions and pricing parts to make sure you’re not being swindled. Once you find a mechanic you can trust, you can go to them any time you have questions or concerns. You may even get them to help you learn how to do some maintenance on your own, such as changing the oil.

Wash Your Car Regularly

Regularly washing your car helps it last longer as well as look nicer. It can also help you sell your vehicle for a higher price in the future. Visiting your car wash regularly can help remove rust and salt build-up from your car, helping it to last longer. It can help your paint and finish last longer as well.

Check for Discounts on Insurance

Make sure that you regularly check with your insurance company to see if you’re claiming all the discounts you’re entitled to. Some discounts, like safe driver discounts, can change over time. You may not have been eligible for other discounts in the past but that can change over time if you experience changes in your lifestyle or purchase different vehicles. These discounts can add up to substantial savings so don’t neglect them

Make Extra Car Payments

If you make extra car payments and apply the payments directly to your principal, you can save hundreds or thousands of dollars over time. One favorite way to do this is by making your car payments every two weeks instead of once a month. This can substantially decrease the length of your loan, saving you a lot of money. Another easy way to make extra car payments is by simply scheduling an extra small payment to be applied directly to your principal each month. Even a small amount, such as fifty dollars, can make a difference. By making the payment automatic you won’t have to think about it and you won’t miss the money. Finally, consider applying any lump sums that you have available, such as tax refunds, directly to your principal instead of using that money for a shopping spree or to purchase a new flatscreen.

Drive Safely

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Safe driving habits can make a big difference in your vehicle maintenance costs over time. Reckless driving contributes to wrecks, accidents, and repair bills. Seemingly small bad habits such as bumping curbs or speeding can cost you money. Running into curbs can wear your tires down and even damage your rims, while speeding increases your risk of accidents and decreases your fuel mileage.

Pay Attention to Warning Lights

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Don’t ignore those warning lights when they pop up on your dash. Whether it’s a check engine light, a low tire light, or some other warning, you need to find out what is causing it and what you need to do to fix it. Ignoring these lights can allow problems to continue unchecked until parts are damaged or even become irreparable. Damage to large, expensive components of your vehicle like the engine, transmission, and other systems can occur if you ignore warning lights for too long.