Cutting the Cost of Car Ownership in 2020

    Posted by Ben Davidson about 2 months ago

    Car ownership can be a costly business, but it doesn’t have to be. With these savvy money-saving tips, you can cut the cost of owning a car and still drive the vehicle of your dreams…

    1. Buy a pre-owned vehicle

    Buying a pre-owned car can save you thousands of dollars. A vehicle’s value depreciates quickly, so you could save a bundle buy purchasing a pre-owned car. Even buying last year’s model, rather than this year’s, could save you a tidy sum. While you can still enjoy the feel of driving around in a new model, you can minimize your expenditure by opting for a pre-owned vehicle, rather than one that’s straight off the production line. 

    2. Check insurance costs

    Don’t wait until you’ve purchased a car to get an insurance quote. You might be surprised at just how expensive it is to ensure particular models. By getting a range of quotes prior to making a purchase, you can ensure that your monthly or annual premiums won’t be unaffordable. 

    Sometimes, making minor adjustments to your choice of vehicle can reduce the cost of insurance quite substantially. By choosing a 1.4-liter engine over a 1.6 liter, for example, you could cut the cost of your insurance. 

    3. Explore financing options

    If saving up to buy a new car is taking too long, why not explore the financing options that are available to you? Many reputable car dealerships, like Indi Car Credit, have a range of financing options available, regardless of your credit. By choosing to take out car finance, you can spread the cost of your new purchase and often pay very little interest. Depending on your circumstances, this could be the most efficient way to purchase a new car and the easiest way of upgrading your current vehicle. 

    4. Be flexible

    The more flexible you are about your vehicle, the more money you can save. If you have your heart set on a particular model or color, then you may need to wait for some time until one comes around at the right price. However, if you’re open to a range of different vehicles, you’ll find something that meets your needs and your budget much more quickly. 

    If you’ve always purchased vehicles from the same manufacturer, take the time to look at what else is out there. You might be pleasantly surprised by the styles and quality offered by other car manufacturers and you could find yourself a bargain too. 

    5. Identify your objectives

    Will you be using your car for short daily trips or for long-distance journeys? Knowing how you will use your car will help you to identify the features and specs you need. It’s easy to get caught up with the latest gadgets when you see them on the lot, so make your list of ‘must-have’ features before you begin shopping for your cars. 

    Reducing the Cost of Your Car

    Whether you’re buying new or choosing a pre-owned model, don’t be afraid to haggle! It’s not unusual for salespeople to have some wiggle room when it comes to price, so save some money by getting the best deal you can. 


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