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Six Ways You Burn Money on Your Car

No one likes to waste money on a car. With the cost of buying a new car averaging more than $25,000, it’s easy to overlook the costs of driving one.

 

There’s no limit to how much you can spend on a car. Likewise, there are no limits on how you can waste money on a car. But for starters, here’s a list of six.

 

*Not knowing yourself
Think hard about why you need a vehicle. How you use it and how long you intend to keep it will make a difference on which car to own and whether to buy an extended service agreement.

 

*Not knowing your car
Read through your vehicle’s owner manual and warranty information to learn about your rights as a customer and the manufacturer’s maintenance recommendations.

 

*Not paying attention
Your car’s gas gauge lets you know when you’re low on fuel. But there are other less obvious signs when your vehicle needs attention, such as drips in your driveway, subtle smells, and squeals and rattles.

 

*Not keeping tabs
Have a notebook and pen in your glove compartment. When you sense trouble, jot down the symptoms, including date and mileage. Keep a log of service visits and repairs.

 

*Not being careful
Speeding, jackrabbit acceleration, and hard stops can waste up to 49 cents per gallon of your fuel efficiency, according to the U.S. Environmental Protection Agency. Aggressive driving also strains your tires.

 

*Not shopping around
For everything from the car you buy to the gas you put in it, it pays to look around for the best deal--which isn’t always just the cheapest.

 

Of course, the key way to save money on a car is to get your financing at Denali Alaskan Federal Credit Union. Let us know when you’re ready to shop and we’ll help.

 

Copyright 2003 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.