Cars are expensive – period! From filling gas to regular maintenance, car insurance, and car wash services often put a small dent in your annual savings. It takes an average American will need around $40,000 to purchase a quality performance car and approximately $9000 for its annual maintenance in the first year. Read on to find more about these simple hacks to save money on car expenses.
For every new car that hits the roads, we are talking about putting in an investment of close to $50,000. As we complete more and more kilometers, the car maintenance expense keeps on increasing with each passing year. Do you need to shell out $10K or more on your car every other year?
Change your car based on needs
Are you still driving the classic pimped-up car you brought during college? We all had that phase when being a car guy was cool in college, but you are no longer in college! You would instead be completely fine with driving a car that has more space and fuel economy instead of looks. Swap your college car for something that covers your current needs. Find a car that is cheap and has a reasonable trade-in price. If your new car has more fuel economy, you can further bring down the expense by at least $100 every month, which is roughly $1000-1200 saved every year. This is one of the most simple hacks of car maintenance.
Stop hard-driving, be gentle
There is no fixed car maintenance guide. Even simple techniques like being soft on the gas pedal while accelerating and braking early instead of slamming onto the brakes can go a long way in how your car performs in the long run. Fuel efficiency is a significant factor that can increase and decrease your annual expenses. Being gentle on your cars can save you anywhere from $500-1000 annually.
Find a long-term mechanic
It is said that a stitch in time can save nine, and this equally applies when it comes to finding a long-term mechanic who you can trust with both eyes closed. If you are looking for ‘How much should I save for car repairs?‘ we have a suggestion. It is as old as the sun. Find a regular mechanic.
Once you find a mechanic who does the best car maintenance for your cars, it is always best to stick with that mechanic for life (or until he breaks your car at least!). Long-term mechanics will be aware of all the recent maintenance done on your cars and easily spot issues by just listening to the engine note. You are also more likely to get exclusive discounts from a mechanic who knows you’ll return to them, rather than from a new mechanic.
Ditch the premium gas
If you are someone who is into cars, you would understand that often, aftermarket spare parts perform better than stock ones. When it comes to fuel, there is barely any difference between ordinary gas and premium. At the end of the day, the source of both is precisely the same. While the premium fuel claims to be refined more or have added capabilities to boost performance and fuel efficiencies greatly. However, it hasn’t been proven anywhere that this is true. Don’t think twice, and ditch the expensive premium gas today. This is another efficient car expense hack.
Update insurance policies every year
If you are looking at how to save money on car insurance, we have a few tips. It is probably not the best idea to save money on insurance for a new car, as you would want everything insured at least for the first year. Get rid of useless policies and save anywhere from $200-500 every year. If you are unsure about top insurance vendors, Way.com has you covered. You can get the best insurance policies available in your city at the click of a button.
As of now, we have covered just a few of the main expenses for cars, and these are things that we would spend most of our money on. Even minimal adjustments to all these can save you anywhere from $2000 – 3500 every year. That’s not all – you can save even more by dedicating some of your time by using our car expense maintenance hacks.
Check out our blogs for info on finding top-rated airport parking, the best parking spots in your city, and affordable car washes near you.