Owning a car is expensive – especially if you are still paying on it. For individuals that actually own their vehicles, they have to worry about maintenance, property tax, car insurance, and gas. If you are still paying on your car, in addition to the previous, you also have to worry about car payments, GAP insurance, and probably hire car insurance prices.
However, owning a car doesn’t have to completely consume your budget – even with rising gas prices. Great ways to reduce the monthly amount you spend on your car include:
Carpooling sounds like a no brainer, but it’s shocking how many people will avoid doing so. Carpooling can save you a bundle as you are no longer paying for gas all on your own, and you are not putting additional miles on your car that create a need for more frequent oil changes and maintenance. Depending on your normal commute, carpooling can save you close to $100 each month.
Shopping Around for Car Insurance
Car insurance, especially if you are still making payments, is one of the highest costs factored in to caring for your vehicle. However, if you are a good driver, you may be surprised how easy you can find cheap insurance. Because of the downturned economy, many insurance companies have lowered their rates to entice customers. Simply by looking for cheap insurance quotes online, you may find a deal that will save you between $400 and $700 a year on your insurance.
Airing Up Tires Properly
Airing up tires is generally not a task most consider when concerned about saving money, but it is surprisingly beneficial. Not only does properly airing up your tires keep your tires doing longer which can be a huge money saver, but it also gives your car better gas mileage. The better gas mileage you receive the less money you waste on gas, and will gas prices around $4.00 a gallon that can be a huge help.
There is no need to spend $40 on an oil change or $30 to have your air filter change when you can easily do it yourself. It may be a little more messy than you had hoped for, but changing your own oil and air filter can save you between $30 and $50. If you someone that puts a lot of mileage on your car, that can quickly at up to save you a few extra hundred dollars a year.