The 10 Best Money-Saving Tips
for new car owners
Buying a car is amazing, and this is definitely one of the most joyous occasions in anyone’s life. However, having a car is also quite costly, no matter how old it is and how often you’re using it. That’s why saving a few dollars here and there can go a really long way, even though most people don’t pay enough attention to this issue. But, if you too want to save some money on your car, here are the 10 best money-saving tips you should look into asap.
1. Define your Budget
Whether you’re purchasing a new or a used car, knowing exactly how much money you’ve got is crucial. Instead of spending more money than you have and running into financial problems, you should define your car budget and try to stick to it as much as you can. Calculating this budget includes taking your down payment, your monthly payments, and your fees into consideration as well, so do this carefully and take your time.
2. Define your Needs
Bigger and newer cars cost more, but the truth is that not everyone needs a car that’s massive and brand new. That’s why you should define your needs and figure out what you want from your car. This decision won’t just help you find the right model but also prevent you from spending too much money.
Insisting on performance will give you just the car you were looking for, but performance is just one of the crucial things when buying a new car. Others include aim, form, and cost-efficiency, so consider all these things when looking for a car.
3. Opt for a Smaller Car
We’d all like to drive brand new luxury cars, but it’s not always an option. That’s why opting for a smaller car might be the best way to save some money. Therefore, when looking for a new car, pick a model that satisfies all your needs but still isn’t too expensive, as this is a win-win situation for you. Keep in mind that smaller cars also require less money to maintain, so it’s another reason why you should choose them.
4. Look for Sales
No matter what type of car you’re buying and how much money you have, looking for sales and clearances could save you quite a lot. Not everyone knows that these things are possible in the car industry, but they most certainly are. Therefore, ask around a bit and look for lower prices that will give you a chance to buy an amazing car at a fair price.
5. Don’t Forget the Maintenance
Owning a car isn’t enough – you have to maintain it regularly if you want to be able to drive it. Maintaining your car includes changing the oil, checking the engine, and replacing the tyres, so be sure to do these things regularly.
You should also find a way to pay for these repairs on time, so looking for cheaper and more practical solutions is always good. For instance, you can purchase your reliable tyres with zip money and thus save a ton of money and time, but still get great products that will go a long way.
6. Drive Carefully
With so many car accidents happening everywhere around us, driving carefully is simply a must nowadays. Doing this could end up saving your life, but also quite a lot of money too. If you keep driving like a maniac, you’ll be spending much more gas than you normally would – and this means wasting money for no good reason. So, drive slowly, accelerate gently and try to maintain a steady speed as often as you can.
7. Pump Gas Yourself
Speaking of gas and saving money, this is another trick that can potentially save you up to $100 a year. Instead of opting for full service on gas stations, you should just pump your own gas and you’ll probably save a few bucks every single time. Stations actually charge you for pumping your gas, even though this is something very few people know, which is why self-serve gas ends up being a cheaper option.
8. Get the Right Insurance
This is another thing lots of drivers ignore, but this could cost you quite a lot – unless you pay close attention to it, of course. All cars need insurance and this is something you can’t ignore, but not all car insurance companies are the same.
There are lots of different options you can choose from, and premiums sometimes differ quite a lot. That’s why you should look into a number of options and find insurance that works for you but still doesn’t cost too much money.
9. Don’t Pimp your Ride
As mentioned before, we’d all love to own cars that are amazing and fast, but these cars are from being cost-effective. This is especially true if you spice up your car every now and then, introducing cosmetic changes that make it look cool and unique. Although pimping your car makes it more valuable and exciting, this isn’t a good idea when you’re trying to save money, so just stick to basics instead.
10. Pay in Cash
Unfortunately, very few people have enough cash to purchase a car they want, which means they have to get a loan. This option is easier, but definitely not cheaper, particularly with all those interest rates and fees you have to pay. Be sure to compare prices and find out which option is more affordable, and try to save as much money before going to a dealership.
As you can see, saving money when buying a new car isn’t impossible, and it’s all a matter of getting organized. Take these ten tips into consideration, look into them closely, and you’ll surely be able to save a few bucks here and there.
author: Peter Minkoff
Thanks a bunch for sharing!