Car ownership is a real pricey deal. When you’re buying a car, you’re spending a lot of money to own it. When you’re selling a car, you are going to spend cash getting the car into a good condition so it can be sold for the highest price possible. When you own a car, you’ve got to spend money on gas and ensure your car is in a road legal condition. As well as this, when you’re owning a car you need to do maintenance to get the most out of the car. Guess what? This costs money.
Now – buying a car is probably the most expensive part of car ownership altogether. The trouble is, you’re likely only going to be buying a car when you need a car. The worst time to buy a car when you’re looking to be cost effective is when you need a car! Why? Because you’ll rush to a purchase and you’ll likely avoid research time. Who knows what car you could end up owning? It might even be a dud! Never rush when it comes to buying a car.
A quick way to buy a vehicle is to actually consider a lease or long-term rental from a dealer. Renting has a lot of advantages. For one, you don’t lose money. In most cases, cars are horrific investments and lose money the second they leave the dealership. It could even lose about 30% of the value of the car as soon as it hits the road. Renting means you don’t have to worry about losing value. It means you can drive stress free knowing that you are not responsible for the sale or the value. As long as there are no accidents or faults caused by the driver renting the vehicle, the only cost will be the cost of rental and general care – such as gas costs. Renting might afford the ability for you to drive a better type of car – buying good cars costs a lot of money, while renting one for a number of years could be considerably cheaper. As for buying, it is a good time to buy. Plenty of great cars can be found new or used from sites like www.baldwinsubaru.com/used-inventory/index.htm online and there are plenty of marketplaces on the internet for buying cars, and even gaining advice on buying cars online! Apart from renting and buying outright, there is also one other way to buy a car. Financing the car spreads the cost over a number of years and can turn a rental car into your asset. Beware, because if you can’t meet repayments the car will be repossessed and you’ll take a hit to your credit score.
You don’t stop spending money with a car. Ownership comes with a lot of spending! However, with some hard work and some smarts – ownership is the area where you can save a lot of money. As said, cars do not make great investments due to the hit they take once they leave the shop. It’d be extremely difficult to make your money back with a car. However, you can save money with a car during the period in which you own it. You just need to take care of it.
The best way to take care of a car is to educate yourself about the workings of the car. This can be done via the internet and also through the car owner’s manual. Every model of car comes with an ownership manual that describes the quirks and workings of the car. This is essential if you want to save money with your car so you can attempt to work on the car. You can’t really do that without prior engineering knowledge unless you have the ownership manual.
The key to saving money with the car is to keep it in good condition and spend on maintenance so you aren’t spending a lot on repairs. Key areas for maintenance include the brakes, tires and engine oil. Brakes should get a professional eye on them – so with brake problems do consult a mechanic. Brake issues can be easily identified due to a decline in noticeable performance as well as noises caused by stopping the car. A brake replacement costs a lot less than any issues caused by bad brakes – including a car accident. Tires are the same, but are easier for a car owner to change with a number of basic tools. Tires are essential as they are completely responsible for the handling of the car when on the road and wear with use. A worn tire can lead to a car accident, or bad damage to the rims and wheels of the car if the tire experiences horrific wear. Replace car tires upon signs of wear and tear to ensure your car is safe on the road. As for the oil change, it’s the cheapest thing you can do to maintain your car, but if you don’t do it – you could need a new engine. The type of oil used varies from car to car – which is why the manual is key! Simply replace the oil so that dirty dry oil isn’t lubricating the engine of the car.
As for making money with the car – if you aren’t selling it, there are a few things you can do with it. Firstly – you could ferry people around as an Uber or Lyft driver. There is a lot of debate about how fair it is to work for these companies, so it might only have use for you as a ‘side hustle’ as working hours aren’t guaranteed. You could also work deliveries! Make your car work for you.