Whether you’re a first-time car owner or a veteran when it comes to the world of cars, you know a thing or two about maintenance being a real weight on car owners’ wallets. There’s no decision for picking a car at a certain price that comes with everything convenient for the owner.
Picking an expensive model from a well-known and trusted brand can quickly cost thousands of dollars. But what you can expect from that is longevity and the assurance that the automobile will serve your needs well for a long time.
A ride in the budget range and is fairly accessible to most people may not be brand new, which technically isn’t a problem—if the buyer knows how to check used cars. If the buyer is a first-timer, it can be an intimidating task to buy used vehicles. A lower price tag may come with many problems in the long run that can easily go up to thousands of repair and maintenance costs.
How can you save when it comes to car running costs?
When we said save, we didn’t mean you should opt for the cheapest parts, repair services, or fuel. Saving on costs when owning and running a car properly should be on the owner’s first few decisions with the car.
In Australia, a household with two cars spent up to 16,912 dollars in 2019. Breaking it down, households within metropolitan cities spend more at 18,596 dollars than the car running spending of regional households, which is at 14,988 dollars.
1. Pick a car with good fuel economy
The Australian Automobile Association’s Transport Affordability Index in March 2019 found that the average Australian household with two cars pays an average of 68.99 dollars for fuel every week. The weekly cost can add up to over 3,500 for a year of fuel spending.
It can cost you more if you go for a fuel-efficient ride, but there will be more savings in the long run when it comes to your weekly gas spending. A car that requires regular fuel to run will also save you some gas cash, compared to turbocharged cars that run on more expensive fuel.
Driving slowly can also save you some fuel and money on paying for speeding tickets. Every 5 mph you add to the 50-mph gas mileage limit can cost you 18 cents in fuel spending. The same goes for frequent break-slamming, which can add up to a dollar per gallon.
Another thing that eats up your fuel is your car’s air conditioning. If you can, tone down your car’s air conditioning whenever you use it. Why? It can hurt your car’s fuel efficiency by about 25% every time you turn it up to high. But if you’re not comfortable without it, turn it up.
2. Know your maintenance limits
In the world of car owners, there exists a thing called over-maintenance, in which car owners put their cars in for repair and maintenance services without the actual need to do so. Maintenance services can cost thousands annually.
Suppose your car has the ability to indicate its need for repair and maintenance. Some cars can tell you when to change your oil and other parts of the car.
Another way to save on maintenance is to be your own repair service provider. If you know enough about cars and can do the simplest or near complicated tinkering, do it. You don’t only save money—you also learn more about your car.
If you have the equipment such as the basic tools or own a welding machine at home, you can get on with some repairs that can otherwise cost you hundreds to thousands of dollars in repair shops. Make sure you have the right protective equipment, especially when welding, such as a Speedglas welding helmet.
3. Shop around for affordable insurance
An essential part of car running is spending money on car insurance. There are a variety of car insurance companies to choose from. You have all the time to shop around for the best deals that can save you a few hundred bucks yearly.
If you’re planning on handing a car to your teenagers, you may want to wait for a bit longer to decrease the costs their car ownership will add to your insurance payments.
Is car running expensive by default?
The price of car running always depends on the owner. Some people may opt for car makes that are pricey to maintain by default and complain how expensive it is to run one. Some may find it a bit heavy on the pockets but find it completely necessary by looking at how convenient cars can be.