Saving Money in Today's Economy - Car Sense

Every newscast we see and hear reminds us that all Americans need to be particularly aware of saving money and getting the most out of every dollar we spend. If you're like most working Americans, your personal vehicle expenses can't be eliminated because your car, truck, van or motorcycle is the way you get to your job. If your transportation breaks down and you can't get to work, it follows that you won't earn the money you need to pay bills, buy food and survive. Here are three ways to get the most for the money you spend on auto maintenance, repairs and operating cost.

1. Maintenance and repairs. Be prepared to protect your automotive investment and your income by choosing the right mechanic for regular service and repair. Taking your vehicle to a new-car Dealership Service Department will mean a $35 - $75 hourly labor rate compared to using an independent mechanic who will usually charge a $25 - $40 hourly rate. This potentially huge savings will make sense if the independent has a track record of proven diagnostic ability, on-time work performance and a reputation for "straight talking". Since it's true that "time is money", it's especially important that your mechanic can quickly and correctly diagnose a mechanical problem to avoid wasted hours and unnecessary work.

The best source for finding the right mechanic for your make of vehicle is word-of-mouth; ask your co-workers, friends, neighbors and church members for a recommendation. Go the extra step of visiting the independent's shop before you need him; a stress-free first impression will let you know if it's a good choice or not. Savings: as much as $50.00 per labor hour for maintenance and repairs.

2. Use "regular" gasoline. Your vehicle is mandated to have a fuel requirement sticker placed near the fuel tank filler cap. Read it. Most modern cars and trucks are designed to operate safely and efficiently using "regular" grade gasoline; unless the sticker says a higher grade of fuel is "required", you can trust modern engine management computers to adjust for the lower octane ratings of "regular" gas. Savings: usually about 30-cents per gallon of unleaded gasoline.

3. Modify your automobile insurance coverage. As your car ages, it's replacement cost goes down. This means that the low-deductible, "full-coverage" insurance that you've carried since your vehicle was new may now be wasted money. You may have financial "over-kill" built into your budget because you may be over-insured.

If your insurance agent doesn't want to explore sensible money-saving ways to modify your automobile
policy, it's time to get a new agent. Savings: possibly hundreds of dollars per year.

As you look for ways to better survive these financially troubled times, don't forget to consider the big savings to be had on automotive maintenance/repairs, fuel purchases and wise insurance coverage decisions. Make these items a part of your "budget mindset" and you will immediately improve your financial situation.