It is expensive to own a car. There is no way of getting around that. It seems like costs keep rising and making it more expensive with each passing year. With the cost of owning a car coming in second only to housing costs, many car owners are looking for ways to reduce those costs to make it more manageable.
Car repairs are going to start adding up as the car you own gets used more and the miles begin to rack up. Luckily, there are many ways to keep these costs under control. In this article, we will go over the ways that you can manage those costs so you can keep more money in your pocket.
1 – Get an extended warranty
There are a lot of things that a car dealer tries to have a car owner purchase that do little to help them but put more money into the dealer’s pocket.
Things like undercarriage coating, upholstery protection and roadside assistance are usually not worth the money and rarely ever get taken advantage of by the owner. However, an extended warranty is generally helpful to the car owner that plans to keep the car long term.
For instance, a popular one is CarShield. You pay a premium to have certain repairs covered so when they come up, it costs little to nothing to fix. The CarShield cost pays for itself once you have a couple of repairs done that don’t take any money out of your pocket.
2 – Do regular maintenance
Doing preventative maintenance is a good way to avoid major repairs that happen when the car isn’t taken care of. An example is doing regular oil changes. It doesn’t cost much to change the oil and can even be done yourself. Yet, if it is ignored then a lot of engine parts will wear out faster due to the increased friction that happens when it is filled with old oil.
The owner’s manual is a good resource that is rarely taken advantage of. It will advise the owner as to what repairs need to be done and in what time frame. This way you can stay ahead of the maintenance and avoid costly repairs later. Make a spreadsheet that has a timeline of the maintenance and when it needs to be done to stay on track.
3 – DIY repairs
There are so many things a person that is even only slightly mechanically inclined can do to keep their car running at its peak. Many repairs are simple enough to do in your driveway with only a little bit of knowledge and the right tools.
Changing brakes is something that just about anybody can do and then you are only paying for the parts and tools needed to do the job. Since you will be doing this repair multiple times, the tools will pay for themselves very quickly.
Oil changes, tune ups and so much more can be done at home and can save thousands over the lifetime of the car.