Although we’re still living in some pretty weird times, one of the things we probably still have in our lives is a car. It probably isn’t getting driven very often, and hopefully your insurance company is giving you a rebate (mine is giving a 20% discount for the next two months), but once this world gets back to normal, many of us will likely be driving again. Cars are one of the bigger expenses in our budget, and if you struggle to manage your money, then buying and maintaining a car can be pretty difficult! Even if your finances are in a good spot (#goals), it may be worth evaluating your driving and maintenance habits to make sure your car isn’t costing more than it has to! Let’s explore a few checkup items to think about with your car.

Be Smart With Your Insurance Policy

Car insurance can be one of the biggest expenses, but a periodic review could be worthwhile. Ask your insurance agent how much you can save by raising the deductible on your auto collision part of the policy, which means you might pay more before they kick in with a claim, but it could save you 10%-30% in premiums (what you pay each month). You could also shop around for a different insurance policy. Insurance companies bank on you auto-renewing policies and after a while you may be missing out if overall rates have lowered. You can find a pay-per-mile insurance review that could prove beneficial, especially if you don’t drive that much. Also, if you drive an older vehicle there could be part of your insurance that you could drop completely, such as comprehensive coverage or collision insurance.

Save On Car Maintenance

My brother in a mechanic, and I often turn to him for advice when I take my car into the shop. One of the biggest pieces of advice he gives is to actually be proactive about preventative maintenance. Turns out all those recommended services are actually pretty good advice. So, after gas, insurance, and the initial payment of the vehicle itself, you’ll need to make sure that you keep your car well-maintained. Regular maintenance like changing the oil and filter every 3,000 miles will really go a long way in keeping your vehicle running smoothly and can save money in the long run compared to major maintenance. Same goes with tuneups, brakes and tires. Making sure your tires are at the right pressure is also smart – don’t ignore those warning lights! Also think twice about the expensive gasoline. I know we think we’re doing our cars a favor by using premium gasoline but for the vast majority of vehicles, it doesn’t offer any benefit. As well as this, make sure you check your fluid levels on a regular basis and balance your tires once a year. None of this is fun but it can save on maintenance in the long run.

Have Better Driving Habits

I know that we all want to live out the plot of the Fast & the Furious movies and hit the gas full pedal every time the light turns green, but as cool as it may feel, it’s not doing any favors for your wallet by sucking up more gas. If you are someone that drives too fast or too slow, this can result in more gas being used to maintain a certain speed. It’s these things that we need to get into the habit of thinking about.

A car is a considerable expense and if it’s something that is bleeding you dry you might also want to think about other ways to make money from the car in terms of a passive income. For example, having a banner on your car to advertise a specific product can be a little way to earn a bit of extra money that will keep your fuel topped up. Weirdly enough I think this is becoming more of a thing as I’ve seen it more often!

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