Cars are expensive. That’s even at the best of time. You already have paying off whatever finance and insurance you have to drive it. So, you should really be doing your best to make sure that it doesn’t cost you even more down the line. .
Low-Cost Car Insurance Guide
Cars are one of those parts of our lives that can lead to sudden poverty if we’re not careful. So here’s how to mitigate the risks of your car costing you a bomb
Get a better deal on the thing
If you’re getting a new car, then that’s the perfect time to start planning smartly with your money. There’s nothing more a car dealer likes better than the uninformed. So know your way around sales tactics. Try hitting the dealership midweek in the day, when demand is low so it’s the buyer’s market. Don’t mention you’re paying with cash until after the negotiation. A lot of dealers will be willing to go lower if they think they’re getting a financing deal out of it.
We all need insurance, so we might tend to rush over the details. This can get us a worse deal than we’d like at times. Make sure you avoid rushing and making mistakes on your insurance. Covering your state requirements might not always be good for what you actually need covering. Cheap isn’t always best.
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Accidents are costly. After getting in one, your insurance premiums might skyrocket. Accidents are touted as being somewhat inevitable. Indeed, you might not be in control of the circumstances that lead to one, but you can lessen the risk. Know the common causes of accidents and do your best to avoid them. Distraction. Driving while tired. Speeding or aggressive driving. These could all end up costing you big time.
Having the right plans in event of an accident
Indeed, an accident might be inevitable. But how you deal with it is massively open to your own influence. Have a plan in mind in case you get into an accident. First, admit no fault. Some people claim fault to make others feel better in an accident, only to have it bite them in the rear later. Get as many details on the accident as you can. If you’re injured, keep the records and costs, too. This could help you mitigate some of the costs with an injury lawyer on your side.
Another way the car can cost you is by depreciating tremendously by the time you sell it. Cars depreciate. There’s no fighting that. There is, however, some slowing you can do. Firstly, by keeping up with the logbook and getting it checked and maintained to schedule. Detailing the body and replacing old stereos and hardware can help you keep it valuable for longer, too.
Gas is where a lot of your car-based spending will fly, particularly if you use it to commute. But you can keep on top of it to make sure you’re not spending more than you should. Be competitive about finding gas prices, even if it takes you a little out of your way. Make sure you check your spark plugs regularly so they’re not using too much, too. There are a lot of little steps that can make you more efficient with your gas, so learn them.