Welcome
Welcome to the Automotive Section of SavingsNut.com, dedicated to providing money
saving advice, tips and ideas on how to be frugal, save money on all your automotive
expenses and reduce your monthly budget. Advice and tips on buying new cars, buying
and selling used vehicles, vehicle financing, car repairs and maintenance, fuel economy,
and auto insurance. Start reducing your automotive costs by reviewing the tips presented
below. For hundreds more tips, advice and savings, click on the navigation buttons
on the left.
Buying New Cars - The purchase of a vehicle, particularly a new vehicle, is a major
economic decision for most households. The first step in buying a new vehicle that
meets the household’s needs is deciding what major vehicle characteristics are most
important, and making a list of those characteristics in their order of importance.
Be sure to bring the list with you when you are looking at vehicles, so that you
do not “fall in love” with a model that does not meet your needs, or costs more than
you need to spend to meet your needs.
Buying & Selling Used Cars - Check the vehicle’s history including previous owners,
flood, fire and accident damage, mileage, whether the engine or transmission has
been rebuilt or a salvage title was ever issued for the vehicle. Ask if the odometer
has ever been turned back. Consider getting a vehicle history report from CarFax.com
or Experian.com/automotive to help check the vehicle’s history. Going to the National
Insurance Crime Bureau web site (NICB.org) can help you determine if a vehicle was
stolen and never recovered, or was damaged in a storm, etc.
Vehicle Financing - Remember, just because the dealer’s monthly lease payment or
finance payment is smaller than what you found elsewhere, does not mean it is cheaper.
You need to compare interest rates and the number of monthly payments that are required,
as well as the amount of any down payment and fees required. The primary objective
in negotiating financing is to lower your overall cost of financing, not just achieve
the lowest monthly payment. And if the dealer offers you a choice between cash back
versus a lower interest rate on financing check the “Cash Back vs. Low Interest Calculator”
at Cars.com. Research vehicle financing and loans here.
Car Repairs & Maintenance - When purchasing tires, make sure you get at least a few
quotes from tire stores, and that these quotes include all costs to you. And do not
be afraid to ask for a better price. Most tire stores will negotiate, and most stores
also have tires on sale. Make sure you look on the Internet for some great prices,
and don’t forget to get prices at discount stores like Costco and Walmart. Finally,
resist the urge to buy road hazard insurance. While anything is possible, the types
of hazards this covers are unlikely to happen. Get auto parts and accessories here.
Fuel Economy - Take advantage of electronic toll devices like E-Z Pass that will
save you money and time by not having to stop, wait and idle, and start when paying
tolls. Many passes also offer discounts of as much as 50% on some tolls.
Automobile Insurance - Collision coverage pays for damages to your vehicle caused
by a collision or rollover regardless of who caused the accident. It is important
to remember that the cost to repair your vehicle will be covered, less any deductible,
only up to the fair market value of the vehicle. So, if the cost to repair your
vehicle is 80% or more of the fair market value of the vehicle, the insurance company
will usually claim the vehicle for salvage, and pay you the fair market value of
the vehicle, less your deductible, resulting in you having a check and no vehicle.
Get auto insurance quotes here.
Thanks for visiting our Automotive Section and we hope the ideas and tips for saving
money on all your vehicle needs and expenses will make life just a little bit better
for you and your family.
