Saving on Car Expenses – The Easy Way

Posted on by Forest in General, Guest Posts, Insurance, Oil & Gas Savings, Opinion, Saving Money & Finances

The following is a guest post on behalf of Cheap Car Insurance

An automobile can be one of the most expensive liabilities for an individual or a family, but it can also be one of the most lucrative as well in other respects. Cars can serve as tax and business shields, among other things. However, the expenses of a car must be closely monitored and budgeted for any type of positive financial gain to be seen from owning an automobile. Below are some of the ways in which an individual, businessman, or family can save on car expenses.

1. Invest in preventive care.

Having your automobile in for regular oil changes, tire rotations, flushings, filter changes, and check ups can do wonders for your car expenses. Many cars do not have problems until they are built up by lack of maintenance, and these ordinary check ups, which can seem so expensive off the bat, can actually save major expenses down the line.

2. Investing in extended warranties.

The right third party extended warranty can be a huge help, especially in protecting expenses of foreign vehicles, or cars whose parts are not easily found. Auto shops love to charge extra for parts that they do not have on hand readily, so check to see if your local shops carry the parts for the cars that you drive. If they do not, it may be in your best interests to invest in an extended warranty so that the third party can take on these costs should something happen to your vehicle after the original warranty is expired.

3. Keep all receipts.

Especially if you are an independent businessman, keeping all gas, oil, maintenance, and other receipts having to do with your car can actually keep you being paid twice by your vehicle – once for its service in providing transport and another in providing a tax shelter for your other assets or for your business. The automobile has long been known to be one of the most effective tax shelters for an independent businessman.

However, it is in the best interest of a businessman to take the time to count up the actual expenses instead of just relying on the standard deduction of the government for mileage and maintenance. Many tax programs actually have a calculator built in whereby you can automatically compare the actual expenses to the standard deduction to see which will save you more money on your taxes.

4. Use the car for what it is meant for.

If you have a small car, you should not be attaching trailers to it, or driving it in third gear. Do not drive your cars off road, and be careful going up and down driveways, as the little scrape that you hear can add up to some big repairs, the least of which is the cosmetic scratches that you get on the bottom of your hoodpiece.

5. Drive 65 mph.

65 mph has been determined by many auto experts as the best and most efficient speed for most cars to be driven. The gas mileage of the vehicle is at its maximum, the car is able to warm up, and the lack of starts and stops will help keep the pressure off of the internal parts of the vehicle prone to wear and tear in stop and go traffic.

6. Check insurance rates online.

Before the prevalence of the Internet, checking auto insurance meant calling companies one by one and putting up with hard sell pitches which diverted your attention. Now, there are many comparison sites which allow you to easily check cheap auto insurance online. Take full advantage and cut your car expenses by cutting your insurance premium.

Tags: auto insurance, car insurance, car savings