Kerry K. Taylor   Aug 1, 2010 44 Comments

Car When the rubber hits the road, it doesn't take long to learn that owning a car can get expensive fast. Whether you love to drive or can't imagine life without your shiny set of wheels, it pays to take a detour around these five ways to waste money on your car.

1. Buying a new car.

Driving that new car off the lot can cost you "20 percent of its value," says popular car site Edmunds. Because cars depreciate quickly when first sold, spending your hard-earned money for that new car smell can cost you thousands in the first year of ownership alone.

For example, the Edmunds True Cost to Own Calculator estimates the depreciation on many new makes and models. I plugged in the numbers for a 2010 Toyota Matrix (with a price of $19,296) and found it depreciates a stunning $4,260 in the first year of ownership, $1,452 in the second year, and another $1,278 in the third. That's over a third of the car's initial value depreciating in three years.

Passing on paying the big bucks for a new vehicle and opting to buy a used car can save you big. Since that same Toyota Matrix only depreciates $1,133 in the fourth year of ownership, it makes good driving sense to let the initial owner absorb the cost and for you to drive away with less depreciation and more of a deal.

2. Putting the pedal to the metal.

If you drive with a lead foot, chances are your need for speed is costing you dearly. All cars have a sweet spot at which they perform at optimal fuel efficiency, and while this spot can vary from vehicle to vehicle, I guarantee it’s not at 110km/h.

City drivers may have the most to gain by slowing down since the majority of fuel is consumed by repeated acceleration. The constant speeding up and slowing down during city jaunts is the reason city cars have inferior gas mileage to highway cruisers. To save in town, accelerate gently from each stop and decelerate slowly by looking ahead and spying red lights. See 10 Ways to Save Money on Gas for more tips to help you visit the pump less often.

3. Getting the dealership to do oil changes.

It's possible to get a great price on dealer oil changes, but chances are you can find a better deal off the lot. Don't be afraid to call for quotes and compare prices before driving off with a new filter. And ladies, don't be afraid to speak up and decline that new set of wipers, that fancy filter, or that expensive synthetic oil unless your car needs this stuff to run smoothly. I once gave in and bought these added features since I was too shy to say "no thanks". When in doubt, crack open your car's manual to see what your engine needs to operate.

4. Paying for premium gas.

Why are you treating your car with premium gasoline when it only requires regular fuel to run? Stick to the cheapest gasoline recommended for your engine, and save the treat for your TFSA, RRSP, or your child's RESP -- you'll get more mileage by fueling your savings.

5. Driving with deflated tires.

Are your tires under pressure? If you're driving around town even a little deflated, you're burning extra fuel, wearing out your treads, and risking a flat. Investing in a $5 tire pressure gauge and checking each tire at least once a month could save you hundreds of dollars in just one year. Now that's my kind of inflation!

Your Turn: How do you save money on your car?

: 11:46 PM in Personal Finance, Saving
44 Comments

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Ways to save money on your car:
- slightly over inflate tires - can save 10% on fuel
- maintain a constant speed when you can
- keep car clean inside and out and touch up any nicks or signs of rust etc.-better resale price and body work is expensive
- when buying a used car plan in advance and look for cars owned by elderly people who are snow birds.
- if you do city driving only then take the car out on a highway at least once per week to help keep engine clean - reduces build up
- buy cars with an excellent safety record and reduce insurance costs
- spring and fall maintainence always - check fan belts, battery,etc. - avoid emergency problems that will cost you a lot more, including towing
- do not carry unnecessary weight in the trunk, etc, - this ads to fuel cost
-on trips keep all luggage, etc inside the car

The real issue with operating cars is the taxes upon taxes on GAS, combined with high insurance premiums. Everything else is like a grain of wheat compared to the price of bread. Whatever feable attempt you make regarding value is offset by the above losses tenfold.
Yet everyone seems to worry about nicks, tire pressure, and oil changes? get real, get to the real symptoms tax tax and tax...

You want tips on saving money on your car?

Try these couple of tips and I guarantee you will save $100's if not $1,000's of $$$$ on vehicle maintenance costs.

Buy your parts from the States; doing this you will save up to 70% from buying at the typical do it yourself auto parts store.
Learn to do the work yourself, most auto parts places like Can. Tire have manuals, usually at the parts counter specific to your make & model.
If you can follow step by step instructions (using the manual) then you can fix your own car & literally save $1000's.

Labour alone costs $80 - $100 per hour and the probability of the final labour costs exceeding the estimated cost is high.
Here's an example of some of my recent savings;
I own a '97 Chev Blazer that needed shocks, local parts stores quoted me $100 per shock meaning it would cost me $400 + TX and then there is the labour to install them.
My solution was I found a auto parts place in the US where I bought those shocks and installed them for $180.00 cdn and 2 1/2 hours of my time.

That's a ¼ of the locally quoted cost!!!

Another example, local quotes for an AC compressor ranged from $300-$600.00 rebuilt or new with overall cost (parts & labour) of over $1200.00, then there's the taxes

Bought a rebuilt compressor from the US and installed myself for a total cost of $225.00 + taxes.
Works just as good & I still have a warranty on the part.

Someone mentioned to overinflate your tires, only problem with this is accelerated and uneven tire wear resulting in premature replacement. If you do decide to overinflate do keep in mind that as you travel down the road the friction of the tire meeting the road causes the air inside the tire to expand, thereby increasing the pressure, too much pressure and you can have a blowout.
STAY WITHIN A 5 PSI LIMIT!!!

Here's a better idea;

Switch to nitrogen!!

The reasoning behind using nitrogen over using air is that with today's vehicles, most come with alloy wheels and when you pump air from any air compressor, not only are you pumping air but water as well. This water will get pushed onto the seal and begin to corrode the metal (steel or alloy) causing your tires to leak.
Using nitrogen will eliminate this corrosion leaving the seal intact.
You still will need to monitor the pressure as minimal loss occurs through the natural pores of the rubber.

Oil changes; yet another simple do it yourself task.
However, most if not all warranties don't allow this practice and will void your warranty.
For anyone else, you do know that you can save 65% - 75% of the cost vs. when you go to one these oil change places.

Most people will have an excuse too not doing their own maintenance. Granted there are some things you just can't do yourself, but I'm talking about the easier repairs that can be done by the do it yourselfer.
Think about these tips and think about the money you WILL save $$$$.

syntetic oil is no doubt the best thing that can happen to your car I have been using amsiol for 30 years and it makes a hugh difference in performance and improved mileage and cold weather starting plus amsoil needs to be changed every 50,000 km and this is backed be their written warranty the only company that does this. Less oil changes means less oil that has to be disposed of. so go ahead and put that fancy synthetic in your engine it will make adifference.I put 432,000 kms on my last vehicle and the engine was sound when I sold it

4. Paying for premium gas.

Why are you treating your car with premium gasoline when it only requires regular fuel to run? Stick to the cheapest gasoline recommended for your engine, and save the treat for your TFSA, RRSP, or your child's RESP -- you'll get more mileage by fueling your savings.

So you're telling me I can put regular gas in my BMW?

So you're telling me I can put regular gas in my BMW?

Posted by: paul.paulson | 08/04/2010 at 02:34 PM


Your owners manual (you know what that is don't you) tells you what octane level (yes!... those numbers do mean something)your BMW takes.

I drive a 2004 VW Golf Diesel which I bought used. The car gets an honest to God 53 mpg combined mileage and over 60 straight highway. The insurance is no more than on my previous Ford Windstar and the maintenance is hell of a lot less. If you want to save money, you could do a lot worse

here's the real secret to saving gas. buy a car with a small engine. and skip out on the automatic. it adds unnecessary weight to the car, increasing fuel consumption. it also takes over and shifts when it wants to. by you doing it yourself, you can always control it and always have it under 2000 rpm lets say. this is what i do. i get an average of 800km with combined city and highway driving on a $35 tank of gas (when its around $0.95/L). on occasion i've hit as much as about 1000km on a tank (but that is purely city driving never exceeding 1500 rpm)

Here's my take on cars,
Buy something used but in great shape(2 or 3yrs old).
Keep it clean.
Get it rust proofed every year.
Bring it to a qualified mechanic that knows your electronics and mechanics of your car.
Nitrogen is the way to go
Used appropriate tires for the season(EI Winters in the winter).
Send it to the spa every spring to remove any salt buildup and wax it.
Travel the highways with cruise on and see a difference in gas mileage as well.
Finally be curtious to fellow drivers and wait your turn at stop sins and lights.

Want to save money on your car. I suggest you talk to Rachel Veitch.

Dont drive with the air vent in the defrost position on any more than needed, it runs the a/c compressor which puts a load on the engine. You can see and hear the engine slow down if you switch it on and off while driving at a steady pace.

if your car calls for premium gas use it!
your engine is designed to run on it!Over time using the wrong fuel can cause expensive repairs.

As staited earlier Paul Paulson. The article clearly states "stick to the cheapest gasoline recommended for your engine". If your engine calls for 91 octane, use 91 octane. If your vehicle calls for premium and you use a lower octane fuel, you could run the risk of dammaging your engine. Check your manual for what gasoline your vehicle takes.

nitrogen in tires is a joke what do you think is in the air you breath!!!! Its just another useless expense,

premium gas is the biggest scam going. it is so well orchestrated by the oil companies and auto industry that it makes me sick. the only thing it helps is their bottom line. I have seen gas station tanks installed. guess what 1 tank for gas, one for diesel. pull up to the pump later guess what 3 grades of gas out of 1 tank! btw it is interesting also because there is 1 spot for the trucks to fill gas and 1 for diesel and when the tanker trucks come they have 1 tank!

My favourite comment is the getting your car rust proofed every year to save money. I also liked the using nitrogen. One person even had the sale's pitch and must either be a salesperson or memorized the pamphlet.
Keep up the senses of humour, people.
If you really want to save money, just follow the maintenace routine set out by the manufacturer. They are the ones who have done the most research on the cars they sell and have the most to lose is your car isn't performing it's best.

Premium gas is not a scam. It all depends on what fuel the manufacturer designed the engine to run on, and as for fuel stations using one tank for gas and one for diesel; it may look like thy only have one gas tank but infact there is 3-4 sealed chambers inside that tank holding reg., mid. and prem. grades.

buying a new car?? do not,i repeat. do not,,,under any circumstances let the sales person talk you into getting your new car RUSTPROOFED....it is already RUSTPROOFED. The mnfg" has already done it....its good for at least 5 plus years.,40 years ago ..yes..but not today..ok??

I agree, nitrogen is a waste of money, it's used on airplanes and race cars but has no place on street cars. Yes it reduces corrosion in alloy wheels, but if you drive in areas that are warm year round, there is minimal corrosion. In areas where it snows and salt is used you should be putting winter wheels and tires on. Undercoating is another waste of money. Most cars are done by the manufacturer when new and never need to be done again. Getting your car oiled every fall is also a waste. My neighbour gets his cars oiled every fall and guess what, the brake lines and gas lines on his cars start leaking anyways 'cause when they spray the oil they concentrate on the sheetmetal parts and not on the steel lines. North American built cars are the worst, the lines start rusting first winter season. My 2000 Corolla was in better condition underneath than my wife's 2003 Buick, and the Buick was previously owned by a gentleman who rarely drove in the winter, Buick had about 25% of the miles that the Corolla had.

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