THE COSTS OF CAR OWNERSHIP
According to the 2013 “Your Driving Costs” study by AAA, the American Automobile Association, the cost of owning a vehicle went up 1.96% last year. The study takes a look at costs associated with vehicle ownership such as: fuel, maintenance, insurance, tires, and depreciation. Perhaps the rising costs of vehicle ownership is part of the reason that Millennials, also known as Generation Y, are not buying cars as much as their predecessors, and in fact, favoring more green alternatives, such as biking, walking, and utilizing public transit. If you don’t live in a community where it is convenient to walk to work or bike to the supermarket, you may be looking for some ways to trim expenses when it comes to your auto.
Fuel
Obviously, the cost of fuel is not a factor that you can control. However, the type of vehicle that you choose can make a huge impact on the amount of fuel that you will need to buy. To save on gasoline, you may want to look at smaller, more fuel efficient cars. Hybrids and electric cars also help to increase fuel efficiency. When looking to buy or lease a new car, it can be helpful to check out the list of the most fuel efficient and least fuel efficient, as rated by the U.S. Department of Energy.
Maintenance
The older a vehicle gets and the more miles it travels, repairs are going to be necessary. These types of costs can be curbed, though, if you diligently follow suggested maintenance, such as regular oil changes, tire rotations, and fluid checks. These are relatively small expenses for maintenance that can save you, literally, hundreds of dollars in repairs due to lack of maintenance. Take advantage of coupons and specials to save a few bucks when going to a dealership service department or other auto shop.id modiae earum eat hillicius quiaest isquoditio magnihi tatem.
Insurance
Insurance can be quite costly and can vary greatly between companies. Some factors that go into the cost of insurance remain constant
The relatively small expenses for oil changes, tire rotations, and fluid checks can save you, literally, hundreds of dollars in repairs due to a lack of maintenance