Beyond Gas Prices, Get Bargains Behind The Wheel
Choosing your vehicle and insurance wisely can save you a pile of cash down the road (so to speak)!
Insurance experts say we should all seriously consider raising our deductible. Not only will you pay less on, say, a $1,000 deductible, but you’re less likely to make a bunch of small claims, which makes many companies more likely to drop your policy.
My family was able to save about 20 percent on our premium by going up to a $1,000 deductible. Make sure you do keep an emergency fund for fender benders, however, and don’t just get the minimum insurance the state requires. Under-insuring is not a bargain when you’re faced with a major accident.
Also, make sure to check out your driving record with the Department of Transportation once a year. There may be points on your license that should have expired or shouldn’t be there at all. Just like on your credit report, only you will find the mistakes, which can cost you in insurance coverage.
Speaking of driving records, it is simply not worth it to speed. Not only is it dangerous, but traffic violations are expenses most of us can’t afford these days. Everyone on the road benefits when we all drive the speed limit and follow traffic laws. Be especially careful in school and construction zones where fines double. When you’re in a hurry, think about the coulda-woulda-shoulda feeling you get when you’ve just gotten a ticket. Then slow down.
Finally, if you’re in the market for a car, understand that today’s economic climate is totally unconventional. In many cases, new car deals are better than those on used cars. Edmunds.com found that because used and certified pre-owned cars are generally financed at a higher rate than new cars, a shopper can save money by purchasing a new vehicle over a used one. And, as always, the cars that seem a little on the “boring” side typically cost less to insure.
For more on this topic, check out these links from Edmunds and Suze Orman:
As always, happy hunting and let me know about your latest finds in comments!
And don’t forget the CBS4 Deal of the Day!
About The Blogger
– In her Brooke’s Bargains blog Brooke Wagner writes about finding bargains and saving money for her family. She calls it one of her favorite hobbies. Blog entries cover everything from the latest steals, deals, and freebies to cheap family activities, saving for college, and what to buy right now.