4 Ways To Lower Car Costs TODAY
Owning a car is getting more expensive. From the bloated used car markets and nationwide chip shortages to inflated gas prices, having four wheels doesn’t necessarily mean the independence or joy it used to.
For the majority of us, having a car is a non-negotiable— and with almost 92% of Americans having access to a car, how do we keep costs bearable?
Here are 4 ways to lower car costs today.
Gas: Gas Apps, Loyalty programs, Membership Retailers, and Cash Back
In May of 2022, gas prices are over $4 per gallon across the country. Inflation and the Russian assault on Ukraine are to blame for the surge in gas prices.
Experts have warned that this pricing is with us to stay, at least through summer 2022. That’s why you should look into apps, grocery store loyalty programs, membership retailer programs, and credit card cash back programs.
GasBuddy is an app on your smartphone, programmed to find the cheapest gas in your local area. They do gas giveaways and allow users to check in to gas stations with live updates on gas prices — so you’re always up-to-date on real-time prices. Check out GasBuddy, here.
Sam’s Club or Costco memberships come with many perks— one of them being cheaper gas prices.
In Colorado, King Soopers (a local grocery chain) has a gas program. Every dollar you spend at checkout counts towards fuel points. One time, my husband and I got under $2 per gallon by taking advantage of this loyalty program. Definitely check out anything like this in your local area. You may be surprised!
There are credit cards that offer cash back or reward points for swiping at the pump. If you have self control when it comes to plastic, this may be a route you can take.
Have you used any of these methods to lower gas in your household? Let me know!
Car Insurance: Gabi
Car insurance is super boring and no one wants to pay more than they have to for it. With Gabi, you can use their comparison tool in 2 minutes to stop overpaying for car insurance.
As a note, this is not sponsored content. I know people who have successfully and painlessly lowered their bill with Gabi.
You share your current policy details so that Gabi can use their tools to compare your coverage. After they compare your policy, Gabi shows you the rates and you pick the quote you want. You can buy that cheaper policy directly through Gabi and they’ll help you cancel your old policy.
Don’t overpay for something as boring as car insurance ever again. Check out Gabi, here.
Car Payment: Auto Approve
Car payments suck the life out of a budget… and quick. I have seen car payments as high at $800. Yikes! Can you image if your car payment was lower? What would you do with the extra money?
Auto Approve can make that a reality. I am also not sponsored or affiliated with Auto Approve. I just really love what they’re doing!
Just like Gabi, you provide your current information, they work with banks and credit unions to get you the best rate AND handle the paperwork. You can walk away with paying less for your car loan.
Refinancing your auto loan has never been so easy! Check out Auto Approve, here.
Car Maintenance + Taxes: Sinking Funds
Never have maintenance or registration fees sneak up on you again. Set up a sinking fund in your bank account or with Ally’s buckets and set an amount each month, dedicated to the costs of owning a vehicle.
This has saved my butt too many times to count and makes paying for registration and fees a much more pleasant experience.
Not sure what sinking funds are? Check out my friend Merilee’s post all about sinking funds, here.
I hope these tools help you lower your car costs today!