Tuesday, 19 January 2016

30 Ways on How to Save Money for a Car

How to save money for a car
  1. Buy fuel efficient car
  2. Buy last year’s model - not a current model
  3. Better, buy a second hand car.
  4. Buy a car with cheap and readily available spare parts (generally, japanese cars have cheaper and readily available spare parts, for example: Toyota and Honda).
  5. But, don’t buy a car that is too old, because the cost of repairs, maintenance and insurance could be more expensive than a newer car.
  6. Buy with cash instead of loan. It is cheaper this way.
  7. Use salary sacrifice, if you are eligible for this. This lowers down your tax bracket. In return, you lower your tax payable. Thus, you save more money.
  8. Use Corporate Program, depending on the program, but most offers free services, free tyres and free brake pads.
  9. Buy car with good resale value.
  10. Sell your old car on your own (advertise it online), avoid trading in your old car with the dealer. Selling your old one online on your own fetches more money than selling it to a dealer.
  11. If buying new, try to haggle with the salespersons
  12. Also, get him (the salespersons) to put in as many free options as possible.
  13. And come prepared - well-researched. Don’t obtain information about the car, the prices and other cars from the salesperson, but get those information from the net, before you go to the dealership.
  14. Dealership located far from the CBD may offer lower price.
  15. Try to go to a salesperson whom you or your friend’s had previous dealings with. This way they can offer you ‘friendship’ discount.

How to save money on car's operational costs  

  1. Car share or carpool with your colleagues or uni/school friends.
  2. Service regularly. This will prevent major catastrophes that could be costlier than regular services.
  3. Change your oil or fluid regularly
  4. Use the right fluid or oil for your car.
  5. Rotate your tyres yearly.
  6. Clean your air filter.
  7. Don’t drive your car on long driving holiday trips. Rent a budget car for this. This will save your car mileage.
  8. use Fuel Discount dockets to buy fuel.
  9. Re-fuel  only when fuel price is low. Check fuel price app before refueling.
  10. Use premium fuel only if required.
  11. Drive responsibly - accelerating rapidly, going fast, frequent breaks and breaking hard will use up more fuel.
  12. When you’re idle (parked and waiting), turn off the engine.
  13. Sparingly use AC.
  14. Keep your tyres inflated.
  15. Drive less - walk/cycle more. It is healthier too.

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