Who’s here to learn some frugal hacks on how to save money on owning and running a car? I bet you’re here to know just that! I won’t go dilly-dally anymore. Here are the details to make car ownership more affordable for you!
Cars are surprisingly expensive to run, and for someone like me who is new to this life reality, I cannot unsee how much the actual spending in a year is just to keep cars running and be well-maintained.
From insurance costs to tax, gas and ongoing maintenance, it’s easy to spend thousands of money a year just to keep your vehicle running. For many people, that expense is just too much, and it isn’t unheard of to completely overlook the costs of owning a car especially in the excitement of buying your very first car. Acquiring some driving lessons is an additional expense if you opt to pay for driving lessons and tests to use the car in the first place, too. And if you took out a loan to buy the car, you would need to pay that back as well.
With all of these costs in mind (kind of stressful, I know!), it’s not hard to see why some people just don’t bother with a car. However, there’s no doubt that having your own car will be more advantageous long-term especially if your daily routine crucially needs you to be able to drive wherever and whenever.
The following tips are THE must-knows!! So read on until the end.
1. Know How to Reduce Car Insurance Costs and Save Money
There are many ways to reduce your car insurance costs. It takes some tweaks here and there when you apply for car insurance, but the best method is to shop around for a better-priced policy. Always remember to CANVASS, CANVASS, CANVASS.
There is a surprising number of insurers out there, and there is bound to be one that can offer you a much better price than what you may be currently paying. Get quotes from a number of insurers and consider the pros and cons of each insurer before you agree to their policy.
Remember, all sorts of things can affect the insurance:
- the size of your engine
- the value of the car
- where you live
- where you keep the car overnight,
- how many miles you intend to do, etc.
And one of the things I totally recommend is having back-up of evidence using a dash cam. This will ultimately save you a lot when you need it!
We don’t want to regret hearing the usual “If it is not recorded, it didn’t happen“. So I suggest that you consider investing on a high quality dash cam that will not break the bank. I recommend fitting a dash cam from somewhere I found recently at Blackboxmycar.com which may lower your costs and protect you when you’re out and about.
2. More Benefits with Tuning your Own Car
To sustain one thing, you have to give some attention to it. No, we don’t mean putting go-faster stripes on or adding things to make your car more powerful. Rather, we are talking about changes that will truly benefit your car — like changing your oil regularly, installing new spark plugs and adding gas cleaner once in a while.
These will help improve the longevity of your car and it’s overall performance, thereby saving you money in the long-term. A great idea, right? So, speak to a local mechanic if you have to and know your car very well. This will benefit you in the long run and make you spend less in the next few years; trust me.
3. Don’t Use Your Car so Much to Save Money
Having a car but not using it that much? Are you kidding me?, you may ask. This is basically something that you may think is counterintuitive but cars also get the downhill of “wear and tear” when overused.
Also, most insurance companies offer discounts for cars having low annual mileage, which means that if your car is used less frequently, you may get discounts from it! *hint for further cost deduction!*
This is much easier if you live or work in a city with reliable and accessible public transport, not so much if you live rurally. If you find yourself jumping in the car and driving just five minutes down to pick up some groceries or to go to work, consider buying a bike or even just walk instead.
Not only is it good for our wallet (especially with gas oil increase every now and then), but also beneficial to our health as well as in our the environment.
4. Be Clever With Buying a Car of Choice
If you haven’t actually purchased a vehicle yet, then you will find this really useful. Don’t immediately think about buying a brand new one – consider a used one first.
Many reputable dealerships will offer good deals on used cars and will be open to negotiation. You also need to consider things like how much mileage you get from a full tank of gas or even consider how well electric cars would work for your lifestyle.
Well, that summarizes everything you need to know at the moment. These are the 4 fundamental steps you need to know may you be a new driver or a veteran driver. These frugal life and money-saving hacks is your ultimate guide in spending less and claiming more benefits in owning and running a car, and I hope you rock it like a boss! Until next time!