Cars can be money pits! With their constant depreciating value and expensive upkeep, it can drain your wallet. Throw in car payments and insurance and it can sometimes feel like it’s impossible to get ahead! According to AAA, the price of owning a car is estimated to be over $8,600 a year. How can you lower the cost of your vehicle in your monthly budget? Try the following tips.
Public transportation, you can save you a decent amount of money on gas, parking, and maintenance over time. You can get from one side of town to the next, to work and back, and to most important events for the fraction of the cost of using a vehicle. Think about when you can opt for public trasportation instead of driving, and you’ll be saving money each time.
Additionally, consider rideshare services like ZipCar, Lyft, and Uber to make it easier than ever to live without being dependent on your own vehicle. These services are mor convenient than ever, allowing you to rent a car or hire a ride for the occasional grocery trip, a night on the town, or even a day trip to places near by.
If you hardly use your automobile, consider selling it. This can save you a ton of money on insurance, if nothing else. Use the proceeds to pad your savings account or pay down debt!
You can significantly reduce the depreciation of your vehicle if you share a ride to and from work with someone else. Additionally, you will save on gas, parking, and tolls! Take advantage of carpooling whenever possible.
You’d be surprised how much this can impact the life of your vehicle. Stop by a local gas station that offers free air and check the air pressure in your car tires once a month. If your tires aren’t inflated to the optimal PSI, fill each one accordingly. This can improve your alignment, suspension and even gas mileage!