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Your car is probably one of the most expensive things you own but for most of us it’s worth every cent.
While there’s no doubt it keeps on costing us money, the clever car owner knows just how to contain those costs.
In fact, there are many simple ways to spend less and protect your investment.
These six ways will ensure you not only save money as a car owner, but spend it more wisely when you have to.
Make Sure You Really Love That Car
There’s no point in driving a car you don’t love, just to save some money.
You might have to spend another $5,000 but you will want to do everything you can to make it look good and last.
The more you love your car, the more you want to take care of it properly.
For example, are you the type of car owner who spends $99 for somebody else to wash and polish your car? Save the money and do it yourself.
Not only do you get to lavish some love, it’s good exercise too.
Be a Fuel Economist and Save Every Time
At the moment, gas is sitting at a 3-year high and it’s probably your biggest expense.
Buy a car with economic fuel consumption. If you don’t want to do that, at least find out who nearby is selling the cheapest fuel.
Prices can vary by as much as $1, which can really add up. Use an app like Gas Buddy to find out who has the cheapest fuel. Some stations even offer discounts when you pay cash rather than card.
Clean your air filter regularly too, because it improves the performance of your car and could even make it up to 10% more fuel efficient.
Dare and Repair Yourself or Pay an Expert
When you have a car you love, you want to maintain and repair it properly. It’s you’re a natural mechanic, it makes sense for you to do it.
If you’re absolutely hopeless (or somewhere in between), get a high quality mechanic. If you value your car, it’s no use trying to find the cheapest one.
A small problem could quite possibly turn into an even bigger one. Buy decent auto parts and tires, because they last longer, won’t void your insurance, and will keep you safe.
Get Three Quotes to Compare Insurance
You might not want to buy insurance but you don’t want to suddenly find yourself out of pocket after an accident.
Always get at least three quotes and compare the differences as carefully as you can. Insurers like to differentiate themselves from each other to compete.
Sometimes it helps to use an agent. While an agent claims commission, it might not be from you.
Make sure you use an agent you trust, someone who understands exactly what you need.
Get Discounts Using One Insurer
It’s common for insurers to offer discounts if you buy cover in more than one category. For example, your home, both cars, jewelry or life insurance. T
he reason they do this is because it saves them money to keep records on one customer with several policies.
Then each additional policy is less costly for them.
It also makes life easier for you to deal with only one insurer.
After all, you’ve got better things to do than keep records on several insurers.
Make Sure You Don’t Make a Claim
Making a small claim can boost the price of your premium and you lose your no claim bonus.
Rather than make a claim, it may be better to just pay out of your pocket.
Another way to save money is to increase the deductible (or excess) so you are not tempted to make small claims at all.
Of course, if you want to protect your vehicle – and your life – you will always drive wisely.
After all, that’s just what a smart car owner does.