July 14, 2014

Saving Money on Your Car

by , in
Outside of the obvious staples that are shelter and food, for many people, an automobile is the greatest monthly expense you will incur.  Granted, the convenience, and sometime critical need, of driving yourself around cannot be argued, but it comes with a hefty price.

Of course, the easiest way to save money on your car is simply not to use it. Walking, jogging and bicycling are not only free, but also good for your health. In many places, public transportation is a good option for the budget conscious. But, if you need to drive yourself, there are still ways to cut some corners.

  1. Instead of buying new, get a quality used car. It is very nice to be the first person to own a car. Seeing an odometer with less than 15 miles on it when you drive it off the lot is a great feeling. However, that feeling also just cost you a couple thousand dollars. Do you really want to get an extra loan to cover the costs of having a brand new car? As soon as you sign the papers on a new car, it’s gone down in value. Instead, consider what is now referred to as a “pre-owned” car. Dealers clean these cars up to where they almost seem new, but obviously they cost far less. Some may have been rentals or leases, while others were just owned for a short time by someone that couldn’t afford the payments. Instead of being the one bringing back a new car, take advantage of the savings and get the car you can afford. With the multiple car history services available these days, you can do a little research to make sure you aren’t buying a lemon.

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