5 Ways to Drive More and Spend Less

If the phrases “I have to get gas” or “the car is making that funny noise again” make you and your wallet cringe, it’s time to look for ways to increase your car’s efficiency. There are two components that determine your efficiency—what you drive, and how you drive it. Find out what you can do in both categories to help you save money on gas and repairs.

What you Drive

If you drive a 1987 Chevrolet Custom Deluxe pickup truck with a V8 engine, you are going to be guzzling gas and fixing oil leaks regularly no matter how gently you drive it. Here are some things you can do with your current car to make it more efficient.

#1: Get rid of your gas-guzzling junk car.

Sometimes the best way to save money on driving is to simply get a more fuel-efficient car. You will not only save money on gas, but also on maintenance. The older a car is, the more often you have to take it into the shop for tune-ups and repairs. If you are looking to sell your junk car, get quotes from different businesses that buy junk cars. Or, if there are parts of your car that are salvageable, you can part them out individually. Put the money you get from your junk car toward buying a more reliable, efficient vehicle.

#2: Keep up On Routine Maintenance.

Spending a little money on routine maintenance and checkups can save you a lot of money in the long run. Here are some parts or services that need regular attention.

Tire rotation. If you don’t rotate your tires according to the tire manufacturer’s recommendations, you will wear the tires down unevenly and shorten their lifespan. You can usually get a free tire rotation if you take your car to the place that sold you the tires.

Alignment check. If your tires are not aligned properly, the tread will wear down much faster than usual. Keep your alignment in check to preserve the life of your tires.

Engine/Transmission services. Engine and transmission services are like cancer—early detection is key. The earlier you catch a problem, the cheaper it will be to repair. Even non-critical issues can negatively impact gas mileage by keeping your car from running as efficiently as it was designed to. Regular services will help detect any problems that arise.

Oil changes. Regular oil changes cost between $20 and $80 (depending on your car), but they keep your engine running in good repair. An oil change every year or so is a lot cheaper than a new engine—or a new vehicle.

How you Drive It

Even if you have the latest fuel-efficient Mazda 3, you won’t be saving much money on gas or maintenance if you drive it like a racecar. Here are some ways you can keep car maintenance costs low simply by changing how you drive:

#3: Take your time with accelerating and braking.

Going from 0 to 60 mph in 30 seconds is thrilling, but it takes a toll on your gas mileage and transmission. Accelerate slowly to save gas and preserve the life of your transmission.

Braking suddenly puts unnecessary pressure on your brakes, which can wear out your car’s brake pads. If you start braking sooner, you can take more time to slow the car down when approaching a red light. In addition to saving your brake pads, braking sooner and approaching lights more slowly may reduce the time you spend completely stopped on the road, which will also increase your gas mileage.

#4: Don’t leave your car running.

Some people think that it saves more fuel to idle a car for a short amount of time than it does to start a car. This is false. Every 10 minutes of idling uses up between 1/10 and 4/10 of a liter of fuel. The wear and tear that frequently stopping and starting your car is offset by the money you save on gas when you choose not to idle.

#5: Slow it down.

Fuel economy peaks at about 40-50 mph, and then decreases roughly 1 mpg per 1 mph you go over that. If you have a lead foot, try using cruise control. Not only will it keep you from accidentally speeding, it will also keep your car at a consistent speed, which increases fuel efficiency.

Saving money on car maintenance and fuel economy is as simple as keeping your car in good condition and watching the way you drive. If you follow these tips, you’ll be surprised at how much you save on gas and repair bills.

When Not to Buy a Hybrid Vehicle

Hybrid vehicles were considered a great idea when they first came onto the market. They were supposed to be both environmentally friendly and a good way to save money. However, recent studies have shown that hybrids may not be all they are cracked up to be. 

According to a recent study from Polk, only about 65% of consumers who purchased a hybrid said they wouldn’t make the same decision again. One of the biggest reasons they were disappointed was that their vehicle didn’t pay off financially. This is a particularly important concern for older consumers living on a tight budget.

Many hybrid owners never recoup their investment. Anyone nearing or living in retirement should understand the financial costs associated with buying a hybrid before deciding to purchase one. Sometimes buying a fuel efficient car isn’t always the best idea.

High Upfront Cost

Hybrids can cost up to 20% more than other vehicles. The most affordable hybrid on the market costs about $20,000 while other versions cost about $100,000. Can you really afford to pay an extra $3,000-10,000 plus interest to buy a hybrid vehicle?

This is a huge investment for anyone on a limited budget. If you are over 50 then you are probably trying to save money during their final working years or are already retired. You also need to factor interest when you use an auto loan calculator. 

May Not Make Up the Cost

Despite the higher initial cost, many people think that buying a hybrid is still a good long-term investment. They believe that their car will pay for itself in gas savings down the road. However, that may not always be the case.

You will probably need at least three years to recoup your investment even if you purchased one of the most fuel efficient hybrids. Some hybrid owners never break even. According to one study, consumers who bought the Lexus LS600h would need about 100 years to break even.

Lower Return on Investment for Seniors

Fuel efficient hybrids tend to make sense for people who are on the road a lot. Young people who travel long distances for work and enjoy going out for a night on the town can pay off their investment in a couple of years. However, they don’t make as much sense for older people who are living a quieter life. You may want to pass on the investment if you don’t drive very often, because it is unlikely that you will ever break even.

Fuel Savings Aren’t Guaranteed

One of the biggest reasons people buy hybrid cars is because they want to save money on gas. Unfortunately, many people don’t save on fuel costs. You will need to know why some people don’t save money before committing to the purchase.

Your savings depend on largely on your driving habits. Hybrids are usually more cost-efficient at speeds below 40 miles per hour, because they are powered by the electric motor rather than gas. However, they become considerably less fuel-efficient at higher speeds. They are often even less fuel efficient than a regular vehicle. This means that drivers who spend a lot of time on the highway may not save anything.

Many of the newer clean diesel vehicles also have better mileage than most hybrids on the market. You should always research all of your options before you decide what the benefits are.
About the author: Kalen is a financial writer with an MBA from Clark University. He shares tips on saving money, budgeting and investing. He also writes about the benefits of choosing money from U Pull & Pay.