The price tags on new and pre-owned vehicles have been climbing to new highs. At the same time, we’ve seen fuel costs increase and rental car rates spike.
You’ve probably noticed the strain on your wallet.
Over time, though, we’ve discovered strategies to better handle these elevated expenses. Below are our top pieces to help motorists save on auto-related costs this year and moving forward.
9 Ways to Reduce Auto Costs
Use these suggestions to lower the price of purchasing — or simply operating — a car.
1. Learn how to buy a car without negotiating
For many buyers, the most unpleasant part of shopping for a car is haggling with a salesperson over price. Negotiation is a skill not everyone possesses.
Still, there are other tactics you can employ at the dealership that can net you significant savings. A former car sales manager outlines how to purchase a car without bartering in this piece.
2. Figure out whether buying or leasing fits you best
With sticker prices on the rise, purchasing a vehicle may be less appealing to consumers. But when you need transportation, you need transportation.
When evaluating a new vehicle, you can opt to either buy or lease. This article lays out the advantages and drawbacks of both routes so you can pick the option that suits your circumstances.
3. Negotiate the most favorable terms on your lease
Just because a leased vehicle might be with you for only a few years doesn’t mean you shouldn’t pursue the best deal possible.
This article provides 11 suggestions for negotiating a car lease so you don’t leave the lot with regrets.
4. Know how to buy a used car without getting taken advantage of
Pre-owned cars are cheaper than the latest models, but there’s always the fear you’ll end up with a dud.
If you’re in the market for a used vehicle, follow these seven pointers to ensure you’re getting a reliable car at a fair price.
5. Decide how much you can realistically spend on a car
Vehicles are a major financial commitment. The last thing you want is to commit to a monthly payment you can’t sustain.
Before purchasing a new set of wheels, consider these seven questions to determine the price range you can reasonably afford.
6. Plan a budget for upkeep and repairs
Your monthly auto loan or lease payment might be your largest car-related expense, but it isn’t the only one to account for. Every vehicle needs routine maintenance, and you should also be ready for repair costs as it gets older.
This article breaks down how much to set aside for maintenance and repairs so you aren’t surprised when these bills arise.
7. Explore alternatives to costly rental cars
Enjoy your trip without stressing over all the extra fees. Rather than booking an expensive rental car when traveling, there are other options.
This post outlines six ways to get around on vacation without depending on a rental vehicle.
8. Apply these strategies to spend less on fuel
You can lower how much you pay for gas by choosing where you fill up, how you pay and when you visit the pump. Your driving habits and the condition of your vehicle also affect fuel consumption.
These 22 tips will help you cut costs when refueling your car.
9. Enroll in one of these gas rewards programs
Signing up for a fuel rewards program is one approach to reducing what you spend on gasoline. With so many programs out there, though, it can be tough to determine which one gives you the best savings.
This article compares six fuel rewards programs from well-known chains and explains how each one helps you save.
Alex Mercer is a former senior writer at Savinly. Senior writer Mike Brassfield contributed to this report.
