10 ways to reduce driving costs
Most car shoppers are eager to save money when they purchase a new vehicle. After all, a vehicle often represents the second largest expenditure after a home.
Here are 10 ideas to help drivers save money. 1) Fuel efficiency. New models offer more fuel-efficient engines and better gas mileage than older models. Over a dozen cars and light trucks now get 5.8 L/100 km to 4.7 L/100 km and hybrids get more. Consider a hybrid, a hybrid-electric, an all-electric or diesel. Maybe it’s time to trade in that gas guzzler for a more economical model. 2) Consider insurance costs. Before purchasing or leasing a new vehicle, research the cost of the insurance premiums. Premiums vary among brands and models. Factors such as where you live and work, how likely a vehicle is to be stolen and collision repair costs are some of the criteria used in calculating premiums. 3) Shop insurance rates. By shopping insurance rates, motorists can save hundreds or thousands of dollars per year. Take advantage of senior citizen discounts. Combine car and home insurance (with the same provider) to realize additional savings. Group insurance is another potential money saving option. 4) Understand leasing versus buying. There are certain advantages to purchasing and leasing a vehicle and it depends on your driving requirements, lifestyle, length of time you plan on keeping a car and monthly cash flow. Knowing the difference between those two forms of vehicle ownership could potentially save you thousands of dollars during your ownership period. Research the pros and cons of leasing vs. buying before you make a purchasing decision. 5) Maintain a good driving record. An occasional traffic ticket may not affect your insurance pre- miums, but several tickets within a few years (or multiple traffic accidents) will. Don’t speed or drive recklessly, don’t text and drive without the aid of a hands-free device, and don’t drive while under the influence of alcohol. 6) Maintenance and car care. Frequent oil changes, scheduled maintenance and proper tire inflation can reduce gas consumption by as much as 25 per cent. Scheduled maintenance will also reduce operating expenses over the long run. Consult your owner’s manual for information about scheduled maintenance. 7) Lose excessive weight. Get rid of heavy loads that aren’t essential for your trip. Heavier loads have an impact on fuel economy. 8) Drive smarter. This means planning trips in advance to avoid potential traffic jams, avoiding excessive idling (i.e. in driveways or in fast-food drive-thru lanes). Maintain speeds limits; accelerate gently; use the air conditioner sparingly, and use high-occupancy vehicle lanes whenever possible. 9) Alternate transportation. Consider taking public transit, riding a bike or walking if those options are feasible. For those who live in rural areas, use GO service to the subway when attending a function downtown. Saving just $20 per week in gas will save you more than $1,000 in a single year. 10) Remove snow tires. Snow tires are typically larger and have deeper treads than regular tires, and they use more fuel. As soon as the snow is gone for good, replace the snows with summer or all-season tires.
Once again, the TADA is proud to support Prostate Cancer Canada. This year, our association has donated a custom 2016 Audi S5 (valued at more than $119,443) for the Rock the Road Raffle. For ticket information, visit rocktheroadraffle.ca.
For more information about owning and operating a vehicle, and the latest industry news, visit carsandjobs.com. This column represents the views of TADA. Write president@tada.ca or go to tada.ca. Doug Sullivan is president of the Trillium Automobile Dealers Association. He is a new-car dealer in Huntsville, Ont.