Money Saving Advice for New Car Owner

Nothing quite compares to the feeling of buying your first car. The pride and elation are on a completely different level. Buying a car for someone whose father isn’t a billionaire is pretty big deal. It requires months and years of savings. So, when you finally buy it you’re ecstatic for sure but that isn’t your happily ever after. The real challenge comes after the purchase. Car maintenance alone costs a bomb. Additionally, there are many more expenses such as fuel, repairs, etc. For all the novices in the field we have compiled a list of things you should do to save loads of cash. Here’s some advice which you could try following:

1.Drive Carefully

The most important thing to keep in mind after purchasing a new car is to drive sensibly. Rash driving does no good to anyone especially those who have new cars and haven’t got the hang of it completely. Speeding and rough braking waste a lot of fuel. This reduces your cars mileage and you end up wasting a lot of fuel and money as well.

2.Drive at The Optimum Speed

Driving at 50 km/hr gives you maximum mileage in India. This means that the amount of fuel your car consumes is much lesser than what it uses at higher speeds. Take for example you are driving at a speed of 90 km/hr on the highway your fuel consumption increases by 20 percent of what it would utilize at 50 km/hr. So, by driving at 50 km/hr you save on a lot of fuel and cash.

3.Bare the Heat

A common mistake that costs us a lot of money is keep the AC on for long periods of time on low temperature. This wastes a lot of fuel and reduces the fuel economy by at least 25 percent. To save a good amount of money you can set the AC at higher temperatures or if you really want to save up you could turn the AC of and embrace the heat.

4.Don’t sit idly

We also tend to waste a lot of fuel by keeping the engine running when we are waiting in the car for something or someone. This could be for a few minutes or maybe an hour, but it costs us a lot of fuel. It is also advisable to turn off your car’s engine while waiting at signals as restarting the car consumes much lesser fuel than you waste keeping it on the entire time.

5.Make sure your tyres have adequate amount of air

Having the correct amount air in your tyres helps you save a lot of fuel. Most of the petrol pumps have stations for filling tyres. It is advised that you keep filling air in your tyres from time to time as it provides a better driving experience and save a lot of money.

6.Buy the correct insurance

After buying a car it is important that you buy an auto insurance that safeguards it. But don’t buy the first auto insurance that comes your way. Be sure to do some research. Read about all the insurance plans available and then choose the one that’s best for you. This is a crucial task which needs to be done with utmost care as it protects your car in the future.

7.Know your cars needs

It is important that you know what kind of repair your car needs and when. All cars come with a manual which help you understand your car’s maintenance system. This prevents you from being taken on a ride when you go for maintenance.

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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