Saving money these days is very difficult. The cost of everything is going up, and that includes the cost of owning a car. According to a report that was done by the AAA, the price of owning a vehicle has increased by two percent since the year 2012. This means that you can expect to spend one cent more for every 15,000 miles that you drive. This is equivalent to $9,000 per year.
It is important to note that this cost increase covers gas, maintenance, depreciation and insurance. Maintenance costs had the biggest increase. You can expect to spend 11 percent more, or five cents per mile, on maintenance costs.
The cost of insurance has also increased drastically. You can expect to pay three percent more, or $28, for insurance this year. This is equivalent to $1,000 per year. It is important to note that you may be required to pay more if you do not have a good driving record.
Interestingly, the cost of gas is decreasing. One year ago, the average cost of a gallon of gas was $3.91. Today, the cost of gas is $3.52 per gallon. Depreciation costs have increased slightly.
Owning a car is not cheap, but fortunately, there are some things that you can do that will help you save money. Below are some tips for saving money on owning a car:
Make Sure That Your Car Is Properly Tuned
If your car is poorly tuned, then it will use between 25 and 33 percent more gas. That is why you want to get tune-ups on a regular basis. You can save between $150 and $250 per year if you get your car tuned-up on a regular basis.
Get Your Oil Changed Every 3,000 miles
You have probably heard that it is best to get your oil changed every 10,000 miles. However, you should consider getting it changed every 3,000 miles. Frequent oil changes will help you extend the life of your engine. You will also be able to save between $500 and $3,000 per year by getting your oil changed regularly.
Make Sure That Your Tires Are Properly Inflated
You may end up losing up to six percent in gasoline mileage if one of your tires are under-inflated. That is why you want to make sure that your tires are properly inflated. Keeping the tires inflated will allow you to save between $140 and $400 per year.