Here's How Your Car Is Draining Your Finances

Cars are a necessary part of life these days. But even though so many of us rely so heavily on autos to get around each and every day, they are still extremely expensive. There’s just no way car manufacturers are going to bring down their prices! Unfortunately, these high prices are pricing some low-income families out of owning a car. But it doesn’t have to be like that - there are ways you can make a car affordable, even if you are on a very tight budget! Firstly, you just need to know the various ways cars can drain your finances. Once you are clued up on these, you will be able to sidestep them and make driving much more affordable for you and your family.

Buying New

Your car can be a huge drain on your finances before you even get it home to your garage! And that’s because you buy new. Cars are incredibly costly when they are bought new. Even cheaper models come with very high price tags when they are completely new straight from the manufacturers. If you want to start saving money from day one, you should look into buying a second-hand car. Second-hand cars can still be quite pricey, though, especially if they aren’t too old. But you can get a title loan quote online to help you manage the cost. When you do buy second hand, it’s important that you check the car out thoroughly before you commit to the purchase. Otherwise, you could end up being scammed and ending up with a dodgy vehicle!

Expensive Insurance

Even if you have had your driver’s license for years, you will need to insure yourself in your car. This is a legal obligation, and it is illegal to drive without it. Unfortunately, car insurance can be extremely expensive, but there are a few ways you can reduce the cost. Firstly, you should buy a car that is considered safe to drive. Each car is made with a different engine and other features, and these all affect how the car drives and handles. If they encourage the car to be driven at high speeds, then an insurance company will deem it quite a risky drive. Sports cars are often thought to be fairly high-risk because of their large engines. And if you buy one, you will have to pay some very high insurance premiums. So, to keep the cost of your insurance down, try and find a car that is considered safe. For instance, go for a Honda Jazz or a Toyota Prius.

Reckless Driving

When you are out and about on the road, you need to take your foot off the gas as much as possible. Not only is speedy driving dangerous and putting you at risk of ending up in an accident, but it is also increasing your gas bills. That’s because, the faster you drive, the higher your gas bills will be. Your car consumes a lot of gas when you drive it fast, and the best way to save money while driving is to stick to the speed limits. There are a few other tricks that can help you keep your gas bills down as well. For example, taking any excess weight out of the car. When a car is heavy, it needs to use more gas to go. So removing any large and bulky items can really help to bring down your gas bills.

Leaving The Engine On

If you are waiting around to pick someone up, you shouldn’t leave your car engine running. That is using gas all the time, and will only be wasting money! So, if you are ever waiting around in your car, it’s a good idea to switch off the engine, unless you want to top up your tank every other day! It’s also wise to turn your engine off when you are waiting for ages at traffic lights. In fact, some cars now come with a feature that automatically turns off the engine while the car is stationary. The engine then kicks in again when you push the peddle in. Think that turning the engine off so much isn’t worth it? You’d be surprised! In actual fact, some car manufacturers estimate that drivers can save up to $140 a year if you get out of the habit of leaving your car idle.

As you can see, driving and owning a car don’t have to be so expensive. You just need to know exactly how to prevent them draining your finances!