Skip nav to main content.
logo-new-white logo-new

Lower Your Car Costs

How to keep the cost of owning a car as low as possible

According to a recent report, the average cost of owning a car is about $12,000 per year. That’s for a new car, driven about 15,000 miles annually. The cost of owning a used car is lower, but it’s still around $6,300 a year. Thankfully, there are ways to keep the cost of owning a car low. Here are some ways to save.

Start With the Car

The first step toward keeping car ownership costs low is to research the car before you buy. Some cars are more expensive to maintain over time. When you have a car in mind, look up the average cost of ownership, and then decide if it’s right for you or pick a different car.

Up to Date on Oil Changes

If you own a gas vehicle, the simplest way to keep maintenance costs low is to make sure you get the car’s oil changed regularly. The oil keeps the engine running smoothly. Neglect oil changes and you could damage the engine, which can be extremely expensive to repair.

Get Help

Ask your friends and loved ones for maintenance shop recommendations. Once you have the names of three shops, call and get quotes for the repairs that you need. A reputable shop won’t overcharge you for repairs.

Keep Up

This might sound odd, but another way to keep the cost of owning a car low is to get it maintained at regular intervals. By that, we mean taking it for scheduled maintenance even when it seems like nothing is wrong with the vehicle. Cars are basically computers on wheels now, so when it says maintenance is needed, don’t ignore it. Small maintenance costs over time will save you from expensive repairs.

Do One Thing: Do plenty of research before buying a car. Avoid cars that have a reputation for expensive maintenance costs.

Written by Christ O’Shea, SavvyMoney.

Back to Blog