You're Doubling Your Car Ownership Costs- And You Don't Even Know It

So, how much does car ownership cost?

From the very start, we have to consider everything, from the cost of insurance to the price of the car itself. Before we even have a license, most of us feel the sting.

As if that weren’t enough, car ownership also raises our monthly living costs. When you have a car in the garage, you have to think about everything from insurance payouts to fuel costs. It’s enough to give anyone a headache.

But, in the modern age, a car is a prerequisite for most. Work commitments and lifestyles dictate we couldn’t be without them. Hence why there’s an average of 834 vehicles per 1000 people in the U.S.

Sadly, most of use can’t eliminate the cost of a car, because we may not have access to public transportation. No matter which way you look at it, car ownership is going to set you back. Many drivers, however, increase car costs without realizing it, and you may be one of them. Here are some car ownership mistakes you can avoid.

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Contents

How Fast?

Driving fast leads to increased fuel consumption, and it doesn’t take a genius to work that out. But, have you ever considered by how much? In reality, increasing your speed by just 15% can raise fuel consumption by 20%. In fact, even sticking to 55mph rather than 65mph can make a massive difference.

If you’re unsure how much this would save, try sticking with a lower speed for a month and see how much less you spend. You can do that by tracking the miles you drive, and the amount you pay for gas during the month.

You can find some real savings.

Getting Careless

Some drivers get careless on the road after a while, because they get complacent and don’t pay close attention to the road.

When that happens, you expose yourself to accidents, and this is especially the case when driving around trucks and large vehicles. These big vehicles have blind spots, and they rely on you to pay attention. Admittedly, you would be free to gain compensation from a blind spot accident, or any accident on the road for that matter. But, that doesn’t stop your monthly car costs from increasing.

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Once you’ve had an accident, your insurance premiums will rise. And, given that insurance is expensive anyway, you’re sure to feel the sting. As such, you’re better off keeping your eyes and mind on the road, no matter how used to driving you are.

Warning Signs

Some drivers ignore warning signs in their vehicles. We leave strange sounds until they lead to breakdowns, or we ignore worrying smells until we can’t anymore. Ironically, we do this to save ourselves money on a car repair- we put it off until later.

In truth, though, these warning signs often come before significant repair work is needed. Ignoring them is one of those mistakes you can’t afford to make. You’ll end up having to fork out for replacements on expensive parts. But, if you listen to what your car tells you, you may be able to fix issues before they get that far. And, you don’t need us to tell you that would save you a fortune.