Cut Car Costs

Save on insurance, repairs and, yes, even gas.

Know Your Options

There's no question: The cost of owning a car just keeps going up. And all too often, consumers feel they're at the mercy of unscrupulous mechanics, insurance industry bureaucrats and the mighty OPEC cartel. Car owners are feeling the pinch right where it hurts most. To put purchasing power back in your hands -- and real savings in your pocket -- try these tips.

Pay (Less) at the Pump
With gas prices at nearly their highest levels ever, chances are you're tired of emptying your wallet every time you fill up the tank. Not to worry. There's plenty you can do to ease the pain until the prices drop.

Shop smart. Gas prices can vary by as much as 15 cents within a few square miles, says Jason Toews, co-founder of gasbuddy.com, a website that helps you find the best prices in your area. But don't get carried away searching for a bargain: Drive too far and you'll run into the law of diminishing returns. To see whether the money you'd save at an out-of-the-way station would be eaten up by the extra miles you'd drive to get there, check out the calculator on bankrate.com.

When you do fill up, stick to the octane level recommended by the manufacturer. Unless there's a knock in your engine, says General Motors fuel scientist Bob Furey, paying more for higher-grade fuel is usually a waste of money.

Cruisin' in overdrive. Aggressive driving -- accelerating rapidly, braking suddenly, excessive lane changing -- doesn't just make you a hazard on the road. According to the U.S. Department of Energy, it can slash your highway gas mileage by 10 percent or more. With gas prices hovering around $2 a gallon, that's the equivalent of paying an extra 20 cents per gallon.

Even if you're steady at the wheel, watch your speedometer. Fuel efficiency peaks at about 60 mph. After that, factor in an extra 10 cents a gallon for each additional 5 mph.

To improve fuel efficiency on the highway, put on the cruise control or shift to overdrive. You'll maintain a constant speed and help your engine run more smoothly.

Are you road-ready? Basic maintenance is critical to maximizing fuel efficiency. Most drivers probably know that proper tire pressure improves gas mileage. Still, one in four cars have at least one under-inflated tire. Add some air, and you'll save up to 6 cents a gallon.

Pocket another 4 cents per gallon by ensuring that your mechanic uses the manufacturer's recommended grade of oil next time you're due for a change. Replace a clogged air filter and save 20 cents a gallon.

A less common problem is a malfunctioning oxygen sensor (it measures the oxygen content of your car's exhaust). Signs of possible trouble include a sluggish-running car, or a lit engine light on the dashboard. Replacing the sensor could save you as much as 60 cents a gallon.

And don't forget to check your gas cap regularly. Nearly 150 million gallons of gasoline evaporate into the atmosphere every year because of all the damaged, loose and missing caps.

Keep Up With the Upkeep
Few things can bust your monthly budget -- or jack up your stress level -- like an unexpected car problem. A little advance planning, though, can ward off unwelcome surprises.

Proactive pays. The best way to avoid unnecessary major repairs is to follow the maintenance schedule in your owner's manual. According to John Nielsen, director of auto repair and buying services at AAA, too many drivers ignore this basic advice. "Everyone buys a car," he says, "but no one reads the owner's manual." With diligent all-around maintenance, Nielsen says, you'll reap "tremendous savings" in the long run.

The big payoff comes in what Rich White of the Automotive Aftermarket Industry Association calls the "Cinderella era," which begins the moment you make your final car payment and lasts until the cost of maintaining your car outweighs the cost of buying a new one. By keeping a well-maintained car for an additional four years after it's all paid for, you could bank the new car payments and save as much as $10,000. That's a handsome bottom line -- and proof that maintenance matters.

•  

• Regular Gas or Premium?
• Your owner's manual may recommend premium gas, but is it really necessary?
• 
• The Car of the Future: It Talks, It Thinks, and It Can Drive Itself
• Imagine a car that runs on new energy, acts smarter, and looks a whole lot different.
• 
• How to Buy a Safer Car
• Safety features and ratings prospective car buyers should be aware of.
• 
• 5 Ways to Save on Gas for Road Trips
• Before you hit the road for your next summer getaway, check out these simple, budget-friendly tips.
• 
• Sniffed Your Car Lately?
• Your car could be making you sick.
• 
• Car Battery Care
• Keep your auto battery at peak performance and know when to replace it.
• 
• Car Oil Change Guide
• This step-by-step guide shows you everything you need to know to do your own oil change at home.
• 

“ Be nice to your feet. Skip stylish heels and slip into your workout shoes for a long trek around the mall. ”

• See All Tips