Driving Cheap

Driving is a costly business, but most Americans have no practical alternatives. Besides, no other mode of transportation offers the same level of freedom to go where you want, when you want. Luckily, there are plenty of ways to save a few dollars here and there in every phase of car ownership. These savings can add up over the total time you own your car. Depending on your level of commitment, you can save literally thousands.

Choose Wisely
Whether you buy a new or used car, do your best research to determine the true cost of ownership of all the models you're considering. That means combing the web for accurate cost of ownership information. Organizations like IntelliChoice and Automotive Lease Guide predict the resale value of all passenger cars, trucks and SUVs. The differences between seemingly comparable vehicles can be spectacular. Often, the "cheaper" car can actually cost you thousands of dollars more to own than the "expensive" car, once you factor in its poor resale value. Also check with your insurance agent before you buy: high premiums on some models might make you take a fresh look at other choices.

Buy/Sell Right
Buying a brand new car can be one of the great pleasures of life. The excitement of getting all the features you want, the new car smell, the instantaneous depreciation once you drive it off the dealer's lot. Whoops—that last one is hardly pleasurable. The best way to avoid the drop in value when a new car suddenly becomes used is to simply buy used in the first place. Seek out a clean, low-mileage car and buy it from a private party for the lowest price. For more peace of mind (at a greater cost), buy from a dealer. (Registration and insurance will also be less on a used car than a new one.)


Before you get swept away on a used model, be sure to investigate rebates or promotions on new cars of the same type. Occasionally a fat rebate can make buying new nearly as painless as buying used.


When it comes time to unload your old car (the longer you keep it, the farther your money goes), sell it privately to get the best price. Trading it in at a dealer is much simpler of course, but the convenience can cost you thousands of dollars.

Garage It
Provided you've got the space, garaging your car at home (and at work if possible) will do wonders for its long-term appearance, longevity and resale value. Paint and rubber aging will slow to a crawl, and interior fading will be almost non-existent.

By The Book
Your owner's manual is a great guide to maintaining your vehicle properly. Follow the guidelines in there, and you won't go far wrong. Be sure to keep a record of all the work you do (or have done) on your car. Doing so may also reap monetary benefit when you sell your car.

Take Care
Even if you're not technically savvy, you can still do a variety of routine maintenance procedures to save money and keep your car healthy. Buy a quality tire gauge ($10-$20) and check your tire pressures every couple of weeks. Set the pressures according to the owner's manual recommendation. If you neglect them, your tires will gradually lose air pressure, which hurts fuel mileage, accelerates wear and can even lead to a blow-out due to heat build-up. Other minor maintenance items can be tended to with a minimum of mechanical skill. Wiper replacement, air filter changes and other items can be easily accomplished. Your owner's manual will tell you how and when to check and maintain the underhood fluids.