Next to your house, your car likely is your second most expensive purchase. And it doesn’t stop at the dealership. There’s car insurance, maintenance, and gas to pay. All three of these have only increased in price.
1) Skip Buying Additives for Fuel Lines
Fuel additives can cost from $2.79 to $26. It doesn’t sound like much, but it adds up if you’re using them routinely.According to the Federal Trade Commission, these “enhancers” don’t work as advertised or provide significant benefits. This is especially true of the less expensive ones.
2) Don’t Let the Car Idle
Are you sitting in the car line waiting to pick up your child from school? You’re probably running the engine. You use up to a half-gallon of gas per hour by idling your engine.3) Keep Those Tires Inflated
Proper air pressure in your tires can save money. Check your owner’s manual and verify what tire pressure your car should have.4) High Credit Score Saves in Two Ways
Credit scores factor a lot into car savings. It starts when you purchase the vehicle. The higher your credit score, the more likely you will qualify for a lower interest rate. But a credit score also factors into insurance rates.
In most states, insurance companies are allowed to factor your credit score into a premium. Ninety-two percent of insurers use credit scores to calculate a premium. Maintaining a good to excellent credit score could save you.
5) Stop Speeding and Driving Aggressively
Driving aggressively and speeding puts you at greater risk of an accident or a ticket, which will cost money. The accident will result in an increase in your insurance premium. But the ticket will affect your premium as well.Insurance premiums, on average, increased 23 percent as a result of a speeding ticket. Ask yourself, was getting there on time worth it?
6) Self-Insure an Accident
Sometimes, an accident is your fault. But if you put the accident through your insurance, you might be looking at a 65 percent increase in premium. If you’ve had a minor fender bender and no one is hurt, you might be better off paying for the repairs yourself.7) Teen Driver Discounts
It’s time to hold your breath; your teenager is driving. Besides the obvious, that means a higher insurance premium. The average rate hike for a driving teenager is 161 percent.8) Less Oil Changes
You could be wasting money if you’re still changing your car’s oil every 3,000 miles. The 3,000-mile rule of thumb is outdated. Most cars can go longer, some even as long as 15,000 miles.9) Pay-per-Mile Insurance
Pay-per-mile insurance may be the way to go if you don’t drive a lot. This is different from the low mileage discount that some insurers offer. Low mileage insurance is a percentage off of a traditional auto policy.But with pay-per-mile, you pay for coverage based on the miles you drive. This policy benefits those who don’t use their car very much. For example, if you work remote or have a second car you barely use, this might be a way to save.
It’s usually a good deal if you only drive your car for 8,000–10,000 miles yearly.
The insurance company has a couple of options for tracking your miles. Insurers use technology called “telematics” to track your driving. It is an app or other device. It will also tell the company how you drive. For example, the insurer will know if you brake hard or accelerate quickly.
10) Indie Gas Stations
Independent gas stations buy their gas from name-brand oil companies. Often, they’ll cut their prices when crude oil rates drop faster than the name gas stations do.11) Online Defensive Driving Course
Check with your agent if your insurance company provides a discount for taking an online defensive driving course. Sometimes, there are age restrictions. They are either for the young or seniors. So ask before you take the course.A course usually costs around $50, but can save you hundreds of dollars if it applies.
