While having your own wheels is the way to flexibility and freedom, any car owner will tell you that having your own car can be expensive.
Aside from the initial payment or (down payment) when you purchase your car, you’ll also have to factor in the cost of insurance, registration, gas, and maintenance.
Here are the five best ways to cut the costs of car ownership, as well as ensure your car retains its resale value.
1. Save Money on Expensive Repairs
Although you’ll purchase an extended auto warranty in the hopes that you’ll never need to use it, it’s definitely worth the extra monthly CarShield cost. By safeguarding yourself against expensive repairs, you won’t have to pay a large lump sum out of pocket.
Another benefit of purchasing an extended car warranty is that it will make your car more attractive to buyers if you decide to sell it later. Potential buyers will have peace of mind knowing that the vehicle has been looked after.
2. Read the Owner’s Manual
When it comes to saving money on the costs of car ownership, reading your vehicle’s owner’s manual is vital. Your car’s owner’s manual will detail precisely how often to perform routine maintenance to keep it running smoothly.
One example of the vital information in your owner’s manual is the recommended frequency of oil changes. Older cars used to need an oil change every three months or 3,000 miles, but newer vehicles can go for much longer. If you schedule services before you need them, you’ll be wasting a lot of money.
3. Check the Tire Pressure
If you want to save on your monthly car-related expenses, check your tire pressure frequently. Tires that are even slightly deflated will wear through the tread a lot quicker, which means you’ll be replacing them more often. Improperly inflated tires can also reduce your gas mileage.
Underinflated tires are also hazardous – they impact your car’s handling, increase the chance of blowouts, and reduce your stopping distance. Remember to check your tires’ pressure from time to time and, if it’s low, have them filled at your gas station.
4. Get Your Wheels Aligned
Although you might not think it’s a big deal when your car’s steering wheel vibrates or pulls slightly to one side, ensuring that your wheels are correctly aligned can save you a lot of money on gas and tire replacement.
If your car’s wheels aren’t correctly aligned, the uneven wear and tear of your tires on the road will mean you’ll have a lower gas mileage. You’ll also wear your tires out a lot faster and put pressure on the car’s suspension system – which can be costly to repair.
5. Drive More Efficiently
You can make the most out of your gas mileage simply by driving more efficiently. Avoid aggressive driving, high revving, and stop-start acceleration in traffic. If you’re stuck in a traffic jam, try to keep the car rolling by practicing clutch control and engine braking.
Driving smoothly and accelerating gently is the best way to save fuel and avoid wear and tear on your clutch and engine.