How to Keep Your Car’s Running Costs Low and Affordable

Car being driven in a curveMany drivers, especially those owning a car for the first time, are often surprised at how costly it is to keep it running. Such drivers don’t look past the buying price, and it comes back to haunt them. Rushing the process of buying a car only sets you up to fail.

If you make the mistake of buying one that’s a maintenance car, it’ll leave a gaping hole in your wallet. For the best motoring experience, you need to bear a few crucial factors in mind, according to

Consider the rate of depreciation

Getting a car that retains its value is a great way to lower your maintenance costs over its lifetime. Unless it’s a classic car, a depreciating car value is something you have to live with. Since cars are not created equal, some brands have a lower rate of depreciation than others.

Incidentally, new cars have higher depreciation rates, sometimes up to 50% in the first year. However, new cars bear the advantages of a warrant, which lowers your costs for up to three years. Again, the rate of depreciation decreases rapidly after the first year.

Consider your car usage

Naturally, if you commute long distances for work, you’ll rack a high running tab. You’ll have a higher rate of wear and tear, tires will wear out quicker, and fuel consumption will spike. You need to bear these factors in mind when buying a car. While a large vehicle with a powerful engine will transverse the distance with ease, the fuel tab will be huge.

Instead of saddling your wallet with such high bills, consider getting a powerful car but with a less thirsty engine. As an everyday cost, fuel can burn a deep hole in your wallet so much that it can affect your ability to tend to your other repairs.

Many people overlook the overall car running costs when buying one and it saddles them with hefty tabs. By making the right choices, you can keep the running costs manageable.

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