Cars can be expensive, but it’s often a necessary expense so that you have a safe way to transport your family where they need to go. Fortunately, there are several tips you can use to make a family car more affordable. Here’s how you can make the expenses of a family car better fit your budget.
Eliminate Frivolous Spending
If you are struggling to afford a family car, it may be time to go over your budget to see if there’s any frivolous spending that you can eliminate. This may include eating out, shopping, or spending too much on entertainment. There’s a good chance that you are spending money on things that you really don’t need. By eliminating some of this frivolous spending, you may find that the expenses of a family car can better fit into your budget.
Get Cheap Car Insurance
Car insurance is an ongoing expense of owning a car. However, you may be able to find cheap car insurance. Shop around with more than one company, and find out about different discounts that you may be eligible for as well. Some car insurance companies will offer a discount for things like paying in full or having payments automatically deducted every single month.
Buy a Used Car (and keep it)
Obviously buying a used vehicle will cost less initially than a new car. Some people worry that a used vehicle will end up costing more in repairs than it saves in cost. This is often not the case. Buying a used vehicle that you can afford rather than having to make payments can save you a fortune in interest payments. According to AAA the average cost of owning a new vehicle is almost $10,000 a year! For that much you can buy a very good used vehicle and keep it for 5 years and maybe have to do $1,000 worth of repairs during that time. Thus you will have saved $39,000 !!! If you keep it an additional 2 years and have to do another $2,000 in repairs you will still save an additional $18,000! So, as you can see the longer you can keep your used vehicle the more you save. Of course, at some point repairs become too inconvenient and expensive but if you do your research beforehand you can choose a vehicle that has a good repair record and it will last a very long time.
Cut Back on Gas
Gas is also a major expense of operating a vehicle, especially for a family full of many people who need to get to many different places on time. If you are looking for a way to make the expense of a family car better fit your budget, try to cut back on the amount of gas that you use every month. This can be done easily by combining errands into a single trip, setting up a carpool schedule with other parents, or lessening car use by walking to nearby places instead.
Another option is to learn to drive more economically. This involves a change of habits so it will require learning things like taking your foot off the gas earlier. So if you see the light way ahead is red why use gas to get there? Just take your foot off the gas and coast to the red light. This not only saves gas but also saves wear and tear on your brakes making them last longer. Some people actually make driving efficiently a game called “hypermiling”. Here are A Dozen Tips for how to Save on Gas.
Do Some of the Repairs and Maintenance Yourself
It should come as no surprise that car repairs and maintenance can be pricey. Fortunately, you may be able to do a lot of the minor repairs yourself. Many car owners can do simple maintenance and repair tasks like changing the oil or replacing the brakes. By doing these types of things, you only need to pay for the parts themselves, which means you can save a lot of money each year. If you don’t need the parts today, by planning your repairs in advance often Amazon has better prices than your local car parts store so you should compare both sources.
Just because your budget is tight, it doesn’t mean that you can’t afford the expenses that come along with owning a family car. Many families can afford the car that they need by being smart with their money and cutting back in certain areas.
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- How to Financially Prepare Your Teenager For Buying Their First Car
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- Buying Your First Car? Here Are Some Tips
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- Cranky Car? A Short Guide to Simple DIY Auto Repairs
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- 5 Factors That Influence Car Insurance Costs
