With everything from gas to repairs to purchase and resale, owning a car can be expensive. Of course, the purchase price is worth noting, as well as your financing costs or interest. But what about maintenance and fuel efficiency?  

If you are searching for a vehicle, this provides insight into what to consider when making a purchase. If you already own a car, you may find some of these tips helpful in saving money over time.  

1. Be Savy, Buy Used
   
   Buying a used car can save you money right off the bat.
   
   You don’t need to get an old vehicle; something 2-3 years old is fine. But compared to buying a new car, you could save yourself thousands off the price tag.
   
   A new vehicle can average around $47,000 according to Kelley Blue Book. However, due to depreciation, the same car can cost about half its original price in only a few years. The average price for a used car is around $26,000.
   
   If you buy a vehicle that’s a few years old, you can save yourself a good chunk of change right off the bat and still get a good, reliable car. 
   
   
2. Get Regular Servicing
   
   Tire rotation, regular oil changes, and even car washes can all help extend the life of your vehicle.
   
   Although these are all considered expenses, regular maintenance can save you quite a bit of money in the future because you’re less likely to incur repair costs and it helps maintain the value of your car. It also extends the life of your vehicle, keeping you from having to buy another car every 7 years. Pay attention to your vehicle, budget for regular maintenance costs, and you’ll pay less overall.  
   
   
3. Perform Repairs or Maintenance Yourself
   
   Some car servicing or repairs are easy enough to do yourself– or by a trusted friend or family member. You may not need to pay someone for servicing when you are just as likely to perform the job yourself.
   
   YouTube is an excellent resource for watching repair or service vehicles. You’ll most likely be able to find a tutorial for your car and watch someone perform the repair.
   
   Just make sure you know what you’re doing so you don’t make a mistake that requires a professional to fix. 
   
   
4. Reduce Your Gas Expenses
   
   One way to reduce your gas expenses is by purchasing a fuel-efficient vehicle, such as an electric car or a hybrid.
   
   If you are not looking to buy another vehicle, consider reducing the number of miles you travel. If you’re usually on the go, consider staying home. You can also use your favorite navigation app to search for the nearest gas stations and their prices, avoiding the need to drive across town to your favorite, low-cost station. 
   
   
5. Refinance Your Car Payment
   
   This is always a good option if you want to keep your vehicle but find your car payments are just too high.
   
   Shop around for low auto refinance rates to find the best option for you. Triangle Credit Union offers auto refinancing at competitive rates which can save you a significant amount of money in expenses and reduce your monthly car payment.