Transportation costs are usually the second biggest expense a person has after housing costs. Between the cost of buying the car, the insurance, fuel costs and repairs, it can really add up to being a prohibitive expense for some.
Yet, there are some ways that you can reduce those expenses. You can cut out a lot of wasteful spending and even adopt better habits when it comes to owning your car that can cut down on your monthly outgoings.
If you are trying to save money, then the first place to look to make some cuts should be your car. Let’s take a look at some of the ways that you can cut your car expenses down.
Save on repairs
Reducing your costs to repair the car will save you thousands over the lifetime of the car.
Repairs can be avoided in many cases simply by taking care of the routine maintenance. If you find yourself faced with a costly repair out of nowhere, chances are good that if you had followed the manufacturer’s maintenance schedule it could have been avoided.
There are repairs that have to happen at some point anyway like changing the brakes or timing belt. There are some insurance policies that can cover many unforeseen expenses so you may save some money there. Check out some CarShield reviews to understand if this is going to be a good fit for you.
Alternatively, you can learn to do some basic repairs so you can save money there. Changing your oil and filters, for example, is not that complicated and can save you hundreds per year.
Change your driving habits
The way that you drive could be costing you far more than you realize. If you drive your car roughly, then you are causing faster wear and tear which means more repair costs. If you speed frequently then you are paying too much in fines plus the added points on your insurance. And, you could even cause a costly accident.
Pay attention to how you drive and you will start saving money immediately. For instance, you can ask your insurance provider for a vehicle monitoring device that tracks how you drive. At the end of the month you will see a report that shows how often you speed, brake too roughly and take corners too hard. If you get those numbers down then your insurance will cost you less the following year.
Shop around for insurance
You may be paying too much for your insurance. Shop around and ask for some quotes from different companies and you may see some savings there. Call for a quote rather than doing it online as an agent is able to get you the best deal usually.
Not only should you shop around, but you can also ask if you have too much insurance. You may be paying for features on your policy that are unnecessary. Remove things like roadside assistance if you already have AAA. Or, go for a higher deductible in return for a lower premium.