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Your Money_ The Missing Manual - J. D. Roth [91]

By Root 1370 0
there are other tricks you can use to keep your costs down. The simplest one is to drive the car longer. Here's a real-life example: As I was writing this chapter, I got an email from a Get Rich Slowly reader named Chris, who wrote, "I have a 1997 Geo Metro. I bought it 10 years ago with 60,000 miles. It now has 180,000 miles. I paid $1,800 for it, and pay $220 a year in insurance. This has been the best investment of my life! I even have a bumper sticker that says 'My other car is a Roth IRA.'" By milking more miles from his car, Chris can use the money he saves for more important things.

The next two sections cover the other main expenses you can save on: maintenance and gas.

Lowering maintenance costs


Proper upkeep can save you big bucks over the life of your car. A 2007 article from Consumer Reports found that driving your car to death (keeping it for 200,000 miles or more) can let you save enough money to buy a new car—but only if you take good care of your current vehicle and diligently set aside funds for the new one.

A well-maintained car is safer and cheaper to run. To save money on maintenance, remember to:

Read the manual. This one's obvious, but how many people actually do it? Reading the manual can teach you how to operate your car safely and efficiently. Be sure to check out the manufacturer's recommended maintenance schedule—and do your best to follow it.

Change the oil regularly. Changing your oil every 3,000 miles is essentially a scam, a marketing ploy from the quick-lube industry. You might need oil changes that often if you drive lots of miles under rough conditions, but for most vehicles, it's okay to change the oil every 5,000 miles or 6 months (whichever comes first). Check the manual or ask your mechanic what's best for your car.

Tip

If you need a replacement part, you can save money by picking it up from a junkyard. Despite what many people think, junkyards aren't scary. Simply call around to see who has the best price on the part you need, and then ask if they'll pull it for you. If not, bring your own tools to get the part off the car. If you don't know much about cars, bring somebody who does. And dress appropriately—you'll probably get dirty. Finally, keep in mind that many junkyards only accept cash.

Keep your tires full. If your tires are under-inflated, your car won't handle as well or get the best mileage. If they're over-inflated, they're more likely to get damaged, your ride will be rougher, and you'll have a tougher time stopping when it's wet out.

Park in the garage, if you have one. (If necessary, get rid of all the Stuff that's hogging the space—see The Tyranny of Stuff.) Letting your car live indoors is easier on the paint job and helps prolong the life of your battery, starter, and motor oil.

Deal with trouble before it starts. If you notice strange sounds or vibrations, look into them right away so they don't turn into pricey repairs.

Saving on gas


Gas is the thing you buy most frequently for your car, which gives you lots of chances to save on it. Here are some ways to save at the pump:

Get a fuel-efficient car. This one's obvious, but the numbers are still pretty eye-opening. As an extreme example, a Hummer H2 uses about five times as much gas as a Toyota Prius. If you can't replace your current car right now, keep fuel economy in mind the next time you're in the market for a vehicle. FuelEconomy.gov has an online calculator (http://tinyurl.com/gascalc) that lets you compare the cost difference between two vehicles based on their mileage per gallon.

Tip

CostToDrive.com lets you estimate your fuel costs for long trips. Simply enter your starting location and your destination, provide some basic info about your car, and the site calculates how much gas you'll use and how much the trip will cost.

Take good care of your car. "The best way to get the most from a tank of gas is to follow the vehicle manufacturer's service schedule," advises Consumer Reports. That means checking and replacing the air filter at regular intervals, keeping

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