Reduce Auto Expenses
Eight-Year Rule Reduces Costs
For the best value, buy a new car and keep it for eight years or buy a car that is four years old and keep it for four years. That rule provides the best cost per miles driven.
Bob
Talk to a Trusted Mechanic
I found my most recent car through my mechanic. I simply let him know I was in the market and what I was looking for. Surprisingly, the day I mentioned this, he had a possible car in mind. Another customer was getting ready to sell. I've gone to this garage for many years and trust the owner. He knew I'd be bringing the "new" car in for maintenance and repairs, but I wouldn't be doing so if he recommended a bad car. He already knew the car's good and bad points and was honest with me. He put me in touch with the owner, and after a little negotiating, a deal was made. It's been a great car. In a few years, I'll be in the market for a replacement and I'll be checking with my mechanic again.
Gail
Have Dealer Service Manual on Hand
For every car I have every owned, I have always purchased the dealer service manual. I have always purchased them used through eBay for a fraction of what they cost new! These manuals have saved me thousands of dollars in repairs over the years. When a repair job is more than what I can handle, I feel confident walking into a mechanic "knowing" what is wrong. I have never felt taken advantage of.
Cris M. in Athens, OH
Sniffing Out a Lemon
I was taught by a car salesman to use a magnet if I thought a car might have been in an accident. Bondo will not attract a magnet. If you hold a small magnet by the questionable areas on the car, you can tell if it has Bondo on it.
You can also tell the use of a car by the wear on the brake and gas pedals. This will tell the amount of driving as well as the type of driving, giving you some insight on how the vehicle was used.
J.B. in San Diego, CA
Inspect Car before Purchase
Cultivate a good relationship with a competent mechanic. Arrange for the vehicle to be taken to that person to check the car out for you pre-purchase. If the party you are purchasing from is genuine and has nothing to hide, then they will generally have no objection to this procedure, provided what you request is also reasonable. It is worth the few dollars you pay the mechanic for his/her time for the peace of mind that it gives you.
Margaret in Brisbane, Qld, Australia
Escape Winter's Damage
This really is a tip for people who live in snow states. Keep the underside of the wheel wells of your car clean. Wash them every week during the winter months. This keeps the buildup of mud and salt from rusting the car from underneath the wheel wells. My daughter had a car once that her husband had done this to and it lasted for over 300,000 miles without any rust. Rust usually starts in the wheel wells. We live in upstate NY where they use salt and sand on the roads all winter.
Anita
Just Say "No" to Car Payments
If you are making car payments, make extra payments and pay your car off as soon as possible. Then keep making the car payments into a savings account to be used to purchase your next car. Drive your car at least six or more years. Save enough so that when you purchase your next car, you pay cash combined with your trade-in. This gets you out of the car payment cycle and will save you a great deal of money over your lifetime.
Joy
Comparison Shop Online
Recently, I used Edmunds.com and Cars.com to search for a couple of models of car that were listed in the dealer's inventories on the Internet. Not only did "browsing" on the Internet save me money and a lot of legwork, but it also was the perfect way to "comparison" shop among dealerships.
I narrowed my choices down to four different cars at different dealerships. I emailed the four dealerships, using only my email address as the method of contacting me. I made cash offers that were $500 to $800 below the sticker prices. I felt that the less personal information that the salesperson knew about me, the more leverage I had. Three of the dealerships emailed me back eager to accept my offer. The last dealership claimed that the company had a "no haggle" pricing system and could not come down on the sticker price.
I am happy to report that the money I saved from the sticker price paid for sales taxes, license plates, and the increase in insurance premiums for my "new to me" 2003 car. Of course, I made certain to take copies of my e-mails and the dealership emails with me when I met the salesperson (face to face) for the first time.
Alice
Before Purchasing Extended Warranties…
When it came time to purchase my new vehicle, I called my insurance company to see if they sold extended warrantees for new vehicles because my new Suburban had so many electrical components compared to my other 10-year-old vehicle that I felt the need for an extended warranty. This is where my great savings occurred! The car lot wanted to sell me a $1,200 extended warranty for my new Suburban, but instead, I purchased my extended warranty from my auto insurance carrier for $420! The coverage was identical.
Jamie
Deal on the Last Day of Month
After doing your homework, wait to make your actual purchase on a new car until the last day of the month. Dealers have quotas, and they are more lenient on a good deal when their quota is looming.
Marilyn
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