Tip #1 If you have significant savings earning a low interest rate, consider
making a large down payment or even paying for a car in cash. You can
save several thousand dollars in interest.
Tip #2 You
can save hundreds in interest by shopping around for a loan. All
financial institutions are not equal. Contact several banks, your
credit union, and the auto manufacturer’s own finance company.
Tip #3 Remove unnecessary heavy items
from your vehicle. An extra 100 lbs can reduce mileage by 1mpg. Avoid
top carriers. They increase wind resistance which decreases fuel
Tip #4 Talk to
your agent or insurer about raising your deductibles on collision and
comprehensive coverage to at least $500 or, if you have an old car,
dropping these coverage altogether. Taking these steps can save you
hundreds of dollars a year.
Tip #5 If you have been thinking of buying a used
convertible, keep in mind that actually buying it in rainy/snow season
is more cost effective than waiting for sunshine. It’s cheaper to buy
them when it’s raining because they have less market value then.
Tip #6 Check your tire pressure once a week. You can save a
lot of wear on your tires and a lot of gas by keeping the tires at the