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|Posté le: Dim 18 Juin - 20:16 (2017) Sujet du message: How To Save Money On All Car Expenses Download Epub Mobi Pd
Owning a car is likely one of your largest personal expenses, and while it will always be one of the bigger expenditures on your personal budget, there are many ways to save big money on your car expenses. As with all personal finance, the more cost-saving measures you adopt now, the more money you'll save. While potential savings will vary widely depending on your personal situation, here are some of the best places to start saving money on your car expenses.
How to Save Money on New Car Purchases
Other than buying a house, new car purchases are some of the largest single transactions most people do on their own. Unfortunately, they are also some of the deals that are most often not made in the buyer's best interest. Before buying a new car, start by learning about the 5 Biggest Mistakes to Avoid When Buying a Car. Once you've familiarized yourself with those common car-buying mistakes, check out these opportunities to save some money on the purchase:
Keep cars longer instead of trading every few years. Not only does the cost of new cars rise each year, but cars depreciate quickly, and when you trade frequently, you lose money on low trade-in values. Buy a good quality car and keep it for five to seven years. Potential Money Savings: $400-1,000/yr.
When buying a new car, consider smaller models. They're often cheaper, and because they're lighter, they usually get better gasoline mileage. In addition, insurance is cheaper. Potential Money Savings: $400-600/yr.
When buying a new car, consider the impact that various options have on fuel economy. For example, you sacrifice several miles per gallon when using air conditioning on the highway and even more in stop-and-go traffic; automatic transmissions get about 5 mpg less than manual transmissions; six-cylinder engines get about 4 to 5 mpg less than four-cylinder engines. Potential Money Savings: $400/yr or more.
Don't buy credit life or credit disability insurance through your car dealer when purchasing a new car. Some dealers do a hard sell on these coverages, but they are highly overpriced, and if they're folded into your car loan, you not only end up paying 100% to 500% more than you should for the coverage, you also pay interest on it. Stick to regular life and disability insurance through your employer or an individual policy. Potential Money Savings: $300-500.
Be extremely wary of purchasing service contracts or extended warranties on new automobiles through your dealer. Many of them have very limited coverage (in spite of what the salesman may lead you to believe) and they cost much more than policies purchased directly from providers like Warranty Direct (www.warrantydirect.com). Potential Money Savings: $500-1,000.
How to Save Money on Car Maintenance
After the initial purchase, you have the cost of your monthly payment, auto insurance premiums, and gasoline to account for. If you follow our first piece of advice (buying a good quality vehicle and keeping it for several years), then you will undoubtedly also run into car maintenance expenses. But there are money-saving opportunities here, too:
Keep your car properly tuned. A poorly tuned car uses between 25% and 33% more gasoline each year. It's cheaper to pay the cost of a tune-up. Potential Money Savings: $150-250/yr.
Change the oil and oil filter in your car every 3,000 miles, regardless of how often your owner's manual recommends. More frequent oil changes are the single most important factor in extending the life of your engine, and will more than pay for themselves in savings on repairs and engine wear. Potential Money Savings: $500 - $3,000.
Check your car's air filter monthly. A dirty filter shortens the engine's life and reduces gasoline mileage up to 10%. You can clean the filter by removing it and blowing it with an air hose, or you can replace it. Potential Money Savings: $130/yr or more.
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