• Home
  • About
  • Advertise
  • Contact
  • Policy
  • Guest Post
  • Archive

One Cent At A Time

A Personal finance blog to get rich

  • Email
  • Facebook
  • Pinterest
  • RSS
  • Twitter
  • Beautiful Life
  • Becoming Rich
  • Beginners Guide
  • Extra Income
  • Productivity
  • Saving Money

Reduce The Costs of Car Ownership

June 7, 2021 Leave a Comment

Share this:

  • Tweet
  • Email

Buying a car is a fun experience. After all, who wouldn’t enjoy purchasing a new set of wheels? Having a vehicle means you have the freedom and flexibility to go wherever you want, whenever you want.

Reduce The Costs of Car Ownership

Be that as it may, being a car owner also comes with significant responsibilities. You’ll have to invest quite a bit of money into getting a new ride on everything from the insurance costs and monthly payments to gas and maintenance. 

If you’re worried it might be too much to handle, there are some money-saving strategies you can consider. If you have no or low credit, look online for loans to help build credit. Once you build your score up, more options will be available to you. 

Buy An Affordable Car

Although having an up-to-date car is nice, you won’t own it very long if you can’t afford it. Therefore, you want to ensure you purchase a vehicle within your price range.

If that means you have to buy something that’s a few years old (but in good condition), it’s best to know in advance.

Evaluate your income and savings to determine how much you can afford for a down payment and monthly payments. Keep this number in mind as you negotiate with salespeople. 

Negotiate

Don’t assume that the advertised price is set in stone. Dealerships are in the business of selling cars.

If you make them an offer that enables them to make a profit, chances are they’ll be willing to work something out.

Even knocking a few hundred bucks off the initial purchase can be life-saving down the road. 

Shop Around For Insurance

As you know, you’ll have to pay for car insurance once you buy a car. The best way to save on this expense is to shop around.

Don’t simply accept the first offer you receive. Instead, get an Allstate, Amtrust, and Progressive quote number, then compare to determine which company offers the best rate for the coverage you need. 

Look Into Warranties And Service Contracts

Some dealerships will sweeten the deal by offering you a warranty or service contract on your vehicle.

Eligible vehicles can receive anything from free oil changes to discounts on major repairs for the first few years.

Acquiring an offer like this would essentially save you a lot of money on maintenance and repairs. 

Keep Up With Maintenance

Many car owners make the mistake of falling behind on necessary repairs on a vehicle.

While it may not seem like a big deal at the time, it can have significant consequences. Failing to maintain your car could result in the need for more expensive repairs. 

If you neglect maintenance long enough, you could end up needing to buy a new car sooner rather than later.

You can complete basic car maintenance tasks yourself to save on labor costs.

Auto parts and supplies are often affordable and easy to access. For more significant jobs, it’s best to leave it to the professionals. But beware of repairs going wrong.

Select The Right Mechanic

The cost of car maintenance and repairs can be anywhere from $50 to several thousand dollars.

Although these are expenses you can’t get around, you can do something to make them more affordable. For instance, finding the right mechanic.

An independent mechanic is going to charge you less than someone that works for the dealership. Reliability is another factor to consider when hiring a mechanic.

You want someone that will complete the repairs accurately and timely. You also want someone honest that won’t overcharge or recommend things that don’t require fixing. 

Everyone likes the idea of having a nice vehicle to ride around in, but most don’t pay attention to the financial responsibilities.

If you’re going to buy a new car or simply find it challenging to keep up with the costs of owning a car, there are solutions available.

Sort through the suggestions listed above and use as many as you need to lower your out-of-pocket expenses.

Of course, if you still can’t afford the associated costs of car ownership, it’s probably best that you hold off until you can.

LIKE THIS POST?
I agree to have my personal information transfered to MailChimp ( more information )
Join our community of 8000+ subscribers to increase your net worth and build wealth
We hate spam. Your email address will not be sold or shared with anyone else.

Share this:

  • Tweet
  • Email
The tool that changed the way I manage my personal finance - Personal Capital, The Best Free Personal Finance Tool

Want to start a WordPress blog now? The onecentatatime.com blog is hosted by Siteground Web Hosting. For only $3.95 a month, Siteground can help you set up and host your website/blog quickly and easily.

About the Blogger Hi I am SB, a personal finance enthusiast with a career in software development. I am an immigrant to the USA since 2005, after being born and brought up in India. This 40 something technocrat lives and breathes personal finance whenever he gets time from the day job, job as a husband and a dad

Some links on this page may be affiliate links, if you make a purchase following the links, I may earn a commission. Read affiliate disclosure here
« How to Join Together Multiple PDF Files (and Why You Might Need To)
7 Ways to Prepare for Your Family’s Financial Future »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Create your own blog in 20 minutes and $20

Personal Capital, a free tool to change your financial health today

I use and suggest Upstart, for your personal loan need

CreditKarma, a free tool to check your credit scorey

I use Coinbase, for my crypto investments

101 Cents at a Time

101 Ways to Earn Extra Money on the Side
201 Frugal and Perfect Birthday Gifts
101 Ways to Save Money Everyday
101 Ways to be Better and Successful at Work
101 Ways to Save Environment and Energy
101 Frugal and Romantic Anniversary Ideas
101 Low-Cost Men's Fashion Ideas
101 Personal Finance Tips
101 Ways to Reuse Household Stuff
101 Things to Do, When Nothing to Do
101 College Graduation Gift Ideas
100 Tips for Ecommerce Startup
101 Ways to Enjoy Indoor During Winter
101 Ways to Beat Procrastination

Popular Posts

Quick Cash - How to make $100 legally, in a day
Living well on less than $15,000 a Year
Top survey sites for side income
What to do when auto repair goes wrong
Where should I invest my money now?
20 Ways to be productive and happy at work
51 Ways to get out of debt
Be a better person in 15 days, 15 ways
Income ideas for retirees and senior citizens
51 side jobs for college students
Urgently need a large amount of money?
Should I buy or should I rent?
Best Personal loan providers
25 Ways to save environment
25 DIY car repairs to save money
How to decorate office cubicle
How to show your wife you care
50 Financial Rules for Success
51 Frugal weekend family activity ideas
Become Rich By Saving 1 Hour Of Daily Wage
How much do I need to save for retirement?
How to negotiate your salary

Follow us on FaceBook

About Author

SB

Blogger by choice and IT manager by profession. Finance is my passion and gardening is my greatest satisfaction. Born in India, settled in US, Husband and a father. I created this blog in 2011 with a vision to help others. Thanks for your patronage. More info on my "about" page.

View all posts


Subscribe

Join our community of 5000+ subscribers to increase net worth and build wealth

Advertisements

Personal Stories

How I got a new HP computer replaced
Was COVID circulating in USA in fall of 2019?
How my credit score went up 800+
Why I didn’t invest in Bitcoins
How I controlled impulses to buy things
Why this blog is named One Cent at a Time

Subscribe via Email

Site Disclaimer

Disclosure of Material Connection: Some of the links in this web site are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Read full Affiliate disclosure


One Cent at a Time is published by SB. The opinions expressed herein by him are his own and not those of his employer or anyone else. All content on One Cent at a Time is for entertainment purposes only. By reading this blog, you agree that SB and/or One Cent at a Time is not responsible for any actions taken after reading this blog. For the full disclaimer, click here .

Major Media Mention

One Cent at a Time Media Appearances

Copyright © 2023 One Cent At A Time · Designed by Nuts and Bolts Media