Ways to Save Money : Money Clicks

»  Automobiles & Transportation Tips

• If you have significant savings earning a low interest rate, consider making a large down payment or even paying for a car in cash. You can save several thousand dollars in interest.
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• You can save hundreds in interest by shopping around for a loan. All financial institutions are not equal. Contact several banks, your credit union, and the auto manufacturer's own finance company.
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• Remove unnecessary heavy items from your vehicle. An extra 100 lbs can reduce mileage by 1mpg. Avoid top carriers. They increase wind resistance which decreases fuel economy.
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• Talk to your agent or insurer about raising your deductibles on collision and comprehensive coverage to at least $500 or, if you have an old car, dropping these coverage altogether. Taking these steps can save you hundreds of dollars a year.
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• If you have been thinking of buying a used convertible, keep in mind that actually buying it in rainy/snow season is more cost effective than waiting for sunshine. It's cheaper to buy them when it's raining because they have less market value then.
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• Check your tire pressure once a week. You can save a lot of wear on your tires and a lot of gas by keeping the tires at the right pressure.