Owning a car can be such freedom. Not only can you get yourself around with ease, but you also have the option to take off on a road trip at any point, if that’s what you feel like doing. It’s liberating. But, as with most things in life, a car can also be a huge costly privilege. Sometimes, you can even find that a large chunk of your money goes into running and keeping your car each year. If you’d really like to be able to reduce the amount you spend on your car, without having to stop driving or drastically change your life, these tips should help.
Change Your Lease
When you lease a car, you can often feel as if you’re getting the best deal – and sometimes you are. Not only are you often driving a newer model with low mileage, but you also have less risk of high maintenance fees dragging you down. But, the monthly fee can be quite high. So, when it comes to upgrading your car or the end of your lease, why not think about taking up options that will reduce your payments, such as a different model or lease term?
Focus On Efficiency
If you do own your own car, rather than lease it, you might want to think about getting one that’s super efficient. When you have a gas guzzler, you can often find yourself filling up often. And every single time that you fill your car up with gas, it costs you. So, you might want to look into more efficient options to save money. It can also be a good idea for your leased car option if you’re looking to pay a lower amount on gas.
As a car owner, you might always be tempted to buy new models. However, you may find that they not only cost a lot of money upfront but that you lose a lot of money in them over a long time. You can even lose thousands of dollars just by driving it off of the forecourt. So, instead, when it comes to getting a new car, why not take a look at some suitable used cars instead? You may be able to save a significant amount of money by trading your model in.
You may not want to stop driving, but you could save a lot of money on your car by sharing instead of driving yourself every day. You could carpool with your colleagues to work, or even share one car with your significant other to become a one car household, rather than two. Or, if the latter is too much of a change, just try to drive together as much as you can.
Consider Insurance Options
Sometimes, the most expensive part of car ownership can be the insurance. Even when you’re a good driver with a good driving record, you can discover that you’re paying huge sums of money each month or year to be insured. To reduce your car insurance costs, you might want to think about paying upfront, rather than monthly, reducing your excess options or even trying out black box insurance to be rewarded for good driving.