Five Ways You Can Easily Lose Money On Your Car

    Posted by Ben Davidson about 4 months ago
    Car ownership can be costly, we all know that. Cars come with so many different expenses that they can often be hard to justify owning. But, when you need one, you invest anyway. And sometimes, that investment isn’t always worthwhile. As much as we’d all like to be able to make money from our cars, that isn’t always possible. In fact, more often than not, we can find ourselves losing money on our cars. And it sucks, big time! But there are more common ways that we can tend to lose money. So let’s take a look at what they are, so you can try to avoid them!

    Choosing The Wrong Engine Size

    First of all, you may find that you choose a car that’s going to cost you more just to drive it. It’s tempting to pick out a car that looks good, or that even gives off the right image. But if you want to ensure that you don’t spend dead money on your car, you need to pick one with an efficient engine. Because sometimes, the cars with the biggest engines are huge gas guzzlers and it will cost you the earth to even drive it for a day! Some examples of these include the Nissan Murano and the Infiniti QX50.

    Getting In An Accident

    This one is one of the most obvious of all, but it still doesn’t seem to deter us enough from being careful. Because getting in an accident can cost. Not only can your car become damaged, which can lose you a lot of money, but you could also get injured and find yourself out of work - which can lose you even more money. It sucks, but it can happen!

    Picking The Wrong Insurance

    And this leads us nicely onto our next point. Because when you don’t take out the right insurance, it can cost you big time. You may think that you're clever by taking out the cheapest insurance you can find, you aren’t necessarily. So make sure you shop around on sites such as and do your research carefully. Because it’s important that you get the right level of cover to protect you should get you in that accident, or even be a victim of theft.

    Driving Badly

    But sometimes, you can cause the biggest lost just by driving your car! When you have bad driving habits like these listed on, you can completely wear out your car. Whether you break to harshly, rev too much, or carry to heavy a load, you could be causing your car more damage than necessary, which will cause the car value to depreciate.

    Ignoring Key Car Maintenance

    And finally, if you ignore key car maintenance, you will find that you will lose money in your car, period. Cars need regular maintenance such as services and cleaning. When you ignore these, you could miss out on identifying any running problems, or even cause the paintwork to go rusty, which will effectively run your car into the ground and make it virtually worthless!


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