5 Ways People Waste Money on Their Cars

by Redeeming Riches on March 26, 2012

This may be something of a personal bugbear, but why do people waste money on their cars? Spending money on cars, fine. Wasting money? Not so fine. Of course, if you have a car, there are always going to be costs involved. From buying gas to car insurance, you can’t get away from the fact that motoring costs money. But with this in mind, it makes even less sense to waste money on cars. Below are five common ways people waste money on their cars.

 

Not maintaining them properly

Maintaining a car costs money, there’s no denying that. However, failing to maintain your car costs you money in the long run and so ends up as a waste. For example, if you drive regularly and never change your air filter, you could be getting much less mileage out of your gas than if you changed it every 25,000 miles. You could be penalizing yourself by as much as 15%, so this is potentially a serious amount of money going down the drain. The cost of changing the air filter pales next to this.

 

Using premium fuel unnecessarily

A few months ago, the national average price per gallon for premium gas was $4.04. By contrast, regular gas was $3.78. That’s a significant difference that means unless you actually need to use premium gas in your car, you’re wasting quite a lot of money. Some cars are required to use premium but for most it’s either just ‘recommended’ or not necessary at all. Why burden yourself with the extra cost if you don’t need to?

 

Making unnecessary modifications

Alloy wheels, tinted windows and pimped-up engines all cost money you don’t need to spend. In general, car modifications are unnecessary and are arguably a waste of money. Also, they lead to higher insurance premiums so if you’re looking to save money on your car, making modifications to it is definitely not the way to go.

 

Paying too much on insurance

It’s not just modifications that have an impact on how much insurance you pay, either. You can’t get away from all car insurance costs as you’re required to have a certain standard of cover by law, but it is possible to get good value for money and it’s definitely worth doing. For instance, many people could save money by their switching insurance provider or by making a few security additions to their car, which helps to reduce insurance premiums. As an example, parking your car in a garage rather than on the road significantly reduces your risk, which is reflected in car insurance quotes.

 

Ignoring warning lights

Your car’s warning lights are there for a reason, so don’t ignore them if they come on or you could be throwing money down the drain. It might cost a few dollars to make a repair now, but something relatively minor could turn into a much bigger problem if you don’t sort things out quickly. Delaying fixing your car might save you in the short term but it’s almost certain to cost more in the long run – and, as it is money you needn’t have spent, that definitely counts as a waste.

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