Our Archive of Articles About Financial Literacy and Other Topics
Keeping Automobile Expenses Down
July 19, 2007, 1:15 pm
Automotive Debt article about controlling auto expenses.
We are definitely a culture of car lovers in the U.S. We pamper our cars, treating them like miniature extensions of our homes with elaborate sound systems, plush carpeting, and fancy detailing jobs.
Unfortunately, many of us also waste a lot of money on the operation and maintenance of our cars.
Other than the actual cost of the car, one of the biggest car-related expenses is gasoline. A great way to reduce your fuel bill is to maximize the gas mileage your engine gets. For starters, keep the car tuned up properly, according to your owner’s manual. Also, keep the tires properly inflated to the maximum pressure listed on the sidewall, and replace them as needed. You will easily save money enough on gas, not to mention overall wear and tear, to cover the costs.
Also, your driving habits could be costing you money. Accelerating too quickly, for example, wastes a lot of gas. And, believe it or not, so does stopping too quickly. If you start coasting as early as possible when you see a red light ahead, instead of continuing to press on the accelerator until the last second, you use a lot less gas. Also, if the light changes early enough, you may not have to come to a complete stop, which means getting back up to speed consumes less fuel as well. Besides, coasting to a stop is a lot easier on your brakes.
Here’s another eye-opening fact about how much money we spend on our cars: of the $90 billion Americans spend annually on car repairs, it is estimated that up to 50 percent is due to incompetence or fraud by mechanics.
The best way to protect yourself from crooked mechanics is to find an honest one and never, ever take your car to anyone else. There are plenty of reputable mechanics in business, and if you ask enough people to recommend one, eventually you’ll get a very enthusiastic endorsement from someone, which is usually a good indication of how they’ve been treated.
If you don’t have that option, stay one step ahead of the situation by knowing as many tricks of the trade as you can. One of the most common tricks is the unnecessary repair. The mechanic will tell you that a hose or shock absorber is about to break down any second and should probably be replaced, when in reality, the part is in fairly good shape.
It’s important to remember that dishonest mechanics don’t cheat all the time, only when they think they can get away with it. If you act confident when describing the problem, you may be able to convince them to treat you fairly. Also, insist upon a written estimate before starting any work and tell them you’d like to keep all the parts they replace.
Another common rip-off is to diagnose a small problem as a much bigger one. There are a lot of moving parts in an automobile, all of which work in sync with other parts. If the timing gets knocked out of whack, it can make your car seem like it’s on its last legs, when it really only needs a minor adjustment. However, that doesn’t always stop the mechanic from recommending a major repair.
Trust your instincts on this one. And don’t be shy about taking the car to another garage for a second opinion. It’s unlikely that two mechanics will try the same scam.
About Springboard Nonprofit Consumer Credit Management
Springboard is a nonprofit credit education and financial counseling organization founded in 1974. The agency offers personal financial education and assistance with money, credit and debt management through confidential counseling. Springboard is accredited by the Council on Accreditation, signifying high standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. Springboard is a HUD approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies. The agency has several locations in California and offers face-to-face and nationwide phone counseling services. For more information on Springboard, call 1-800 WISE PLAN (1-800-947-3752) ext. 7750 or visit their web site at www.credit.org.
