Buying a car is probably second only to buying a home as far as big ticket purchases are concerned. However, the expenses do not stop once you’ve driven the car home from the dealership.
You’ll need to top-up on fuel, renew your car insurance and regularly service your vehicle – all of which are bound to cost you money. Fortunately, with these 5 smart tips, you can keep your automobile-related expenses to a minimum.
1. Drive within mileage speeds.
All cars have a certain speed band wherein they provide the best mileage. Driving at these speeds consistently will help you save money on fuel. Sure, you won’t be on the fastest lane and you might see a number of motorists pass you by on the highway, but you’ll be making optimal use of your fuel.
These speeds are also extremely safe to drive at and greatly reduce the change of an accident. No accidents mean no unwanted expenses and ensure you get sizeable NCB discounts on your car insurance.
2. Idling, keep it to a minimum.
We spend a lot of time idling. Be it at signals, waiting to pick-up someone or in traffic snarls. Though it might not be practical to turn off your car every time you idle, it makes sense to do so whenever possible.
Studies show that starting your car takes only 10 seconds worth of fuel, which is much less than the amount of fuel wasted whilst idling for 2 minutes at signal.
3. Service as per company schedule.
After the first few scheduled service visits, many of us tend to forget our servicing dates. Then, we only visit the service station when there’s something wrong. We forget that every time we service our vehicles, we get oil & air filter replacements.
These swaps are extremely important to the overall health of your car and help keep your vehicle running more efficiently for much longer. Opting to not service your car regularly could cause many tiny problems - mending which will cost you a lot of money!
Also, if these tiny problems turn into major issues and you still continue to drive your vehicle, you could run in to car insurance problems as many insurers will not service claims if it is found that your car is not in a road-worthy condition.
4. Tire pressure.
Tire pressure plays an important role in deciding your car’s mileage. However, very few car owners regularly check their tire pressure and inflate or deflate their tires to keep the pressure at the prescribed levels.
If your tires are even slightly deflated, your car has to utilize more fuel to pick-up and maintain speed. Therefore, it is extremely important you keep taps on your tire pressure and make sure it is as per the levels required for different seasons.
5. Car insurance.
Insurance is another expense you can optimize. It starts with comparing plans thoroughly to ensure you get the desired level & types of protection at the lowest possible cost. If you have other general insurance plans, bundling your auto insurance policy with the same insurance provider is a smart way to get lower rates – you can negotiate a little for your loyalty.
It’s also wise to go for long-term insurance policies as these turn out to be much more affordable than single-year plans.
We hope these tips help you save money on fuel, maintenance and Car Insurance India. Good luck and remember to always drive safe!