Save Money On Transportation

Tips on money saving on transportation

The average costs for owning and operating a car a year is $8,121 and or SUV’s it is $10,448. It is costly to own a vehicle when taking into consideration the gas, insurance, maintenance, registration, taxes and financing the loan. To save money on the costs of the annual travel needs here are some tips that may help.

Buy a used car instead of the new car. You can get a warranty as well as the other major features for a lot less compared to the newer car rates. A quality used car is around $20,000 instead of the new car price tag that can be around $34,000 for the average vehicle.

Trade the gas-guzzler for a more economical car and save on the cost of fuel. The economical cars are generally cheaper on the cost of insurance as well. Shop around for car insurance. Some companies charge higher than others since they have to figure into the premiums their profits. Find an insurance company with lower rates and save the money with the same coverage but at a lower cost to you.

For the older cars, cancel the collision and comprehensive coverage. You can save up to 1/3 of the costs on the annual insurance premiums when you do this. Raise your deductible. Instead of having a $100 deductible, raise the deductible to $500 creating a savings on the car insurance. To compensate for the higher deductible, set aside the difference into a savings account for the times you may need to pay for this part of your insurance.

Add your homeowners insurance to the car insurance policy to save money. Many insurance companies provide discounts for combined policies. You can save up to 15% when doing this with your insurance.

Save money on gas when you take the time to shop for the cheapest prices. Go to a different location when they have cheaper gas and add to the monthly savings. Use a gas rebate credit card. Credit card companies such as Discover had a membership plan that will save you money when you fill up your car providing you a cash back savings of 5% and this also includes maintenance charges on your vehicle.

If you live the area with public transportation, take the bus to work to save on the costs of driving you car, parking, and maintenance. You will possible lower your car insurance when you drive less.

Car pool with a fellow coworker. Share the ride and expense to work to cut the costs of gas, insurance, parking, and maintenance on your car.

There are savings on the use of your vehicle if you take the time to monopolize on the savings.