Life gets busy. Between work, family, and everything else on our plates, it’s easy to let car maintenance slip through the cracks. And even if you’re a true petrolhead, (like me) and you really value your vehicle, beyond the A to B, you understand that maintaining your vehicle isn’t just about keeping it on the road—it’s about preserving its performance and longevity.
Either way, everyone wants to save a buck on car ownership: So in this blog, I’m gonna use my decade of experience working on cars, as both a car enthusiast and mechanic to outline how to save thousands each year, without sacrificing performance or reliability! We’ll cover the basics, obviously, but there’s also plenty of pro-level tips that no one seems to think of that could save you thousands! All of this, of course, without neglecting small maintenance tasks could lead to big costs down the road. Here’s our ultimate guide to saving money on car expenses, from my decade Send It Mobile Mechanical Services.
Let’s break it down:
Top 8 Tips: How You Can Save Money On Your Car
1. Drive Smoothly: Save Up to $800 Annually by Easing Off the Gas and Brake
Before you click away… I get it! If you’re a car enthusiast like me, driving slower probably isn’t high on your list. But hear me out — a bit of finesse with the throttle and brakes can go a long way. It’s not about holding back; it’s just about not acting like an idiot with your driving technique. Heavy footed driving racks up fuel costs and increases wear on your tires and brakes, so a touch of control can make a difference over time. Don’t get me wrong, my business is literally named SendIt, so I’m all for doing just that.
But, don’t be a hero in stop-start traffic. Not only is it unsafe to drive fast in those conditions, but it’s obviously just plain stupid to put extra wear and tear on your car, just to end up at the same red light as the guy next to you.
Save the lead foot for when it’s actually fun on backroads or on track.
But, this one is fairly obvious so keep reading — the best is yet to come.
- Fuel Savings: By accelerating gradually and avoiding sudden stops, you can reduce fuel consumption by up to 20%, translating to around $300 per year in savings.
- Brake Life Extension: Smooth braking can add several months to the lifespan of your brakes, saving $100–$150 annually.
- Tire Longevity: Tires are expensive, and driving with care can extend their life by about a year, saving another $200–$300.
Tip: Using cruise control on highways to maintain a consistent speed, is actually pretty significantly more efficient so it helps save fuel and reduces wear on your engine.
2. Inflate Your Tires Correctly: The Easiest Way You Can Save Money On Your Car
This tip is obvious to petrol-heads, but it’s one of the easiest ways you can save money on your car. Reality is, even some of the enthusiasts are lax on this one, and you probably haven’t checked your wife’s car lately.
Tire pressure affects the big 3: safety, fuel efficiency and performance! Under-inflated tires create more resistance, leading to higher fuel consumption, while over-inflated tires wear unevenly and compromise handling. Aim for a balance that slightly exceeds the manufacturer’s minimum recommendation. Of course, if you’re headed to the track, or especially offroad, you’ll probably want to let some air out: but just inflate back up for day-to-day driving.
- Fuel Economy: Correctly inflated tires can increase fuel efficiency by around 3%, potentially saving you $150 per year in fuel costs.
- Extended Tire Life: Properly maintained tire pressure reduces wear, helping you get more miles out of each set and saving around $100 annually.
Pro Tip: Check tire pressure every month or before long trips. Send It Mobile Mechanical Services can help you with routine tire maintenance as part of our mobile service.
3. Say Goodbye to Dealership Prices: Save on Service Without Compromising Quality
Dealerships often charge more than independent mechanics like me, especially for regular servicing, because of their overhead costs. But, this is pretty much just built on the premise that most people think only dealerships can keep their car protect the warranty. The truth is, as long as a qualified repairer follows your logbook’s maintenance schedule, your warranty is always safe! Read up on ACCC warranty law and you’l find you’re always protected, again, as long as you service with someone qualified (like me) doing logbook servicing on time and scheduled correctly!
- Routine Maintenance: Dealerships charge around 20–40% more on average. By using a licensed mobile mechanic, you can save around $300-500 on yearly maintenance.
- Flexibility with Parts: Mobile mechanics can provide quality parts, and after-market parts that often cost less than what a dealership would charge. Plus we can come to you.
Tip: Send It Mobile Mechanical Services offers competitive pricing and certified mechanics, providing dealership-quality service at a fraction of the cost. We’ll come to your location, saving you time and money.
4. Review Your Insurance Plan Annually: Potential Savings of $350 or More
Car insurance is often set to auto-renew, which can lead to missed opportunities for better rates. Shopping around for insurance and adjusting your policy based on current needs can lead to significant savings. Here’s how to make sure you’re not overpaying:
- Bundle Policies: Many insurers offer discounts if you bundle multiple policies, such as car and home insurance, potentially saving up to $150.
- Increase Your Deductible: If you’re a low-risk driver, raising your deductible can lower your monthly premiums, resulting in up to $100 in savings.
- Limit Coverage Add-Ons: Extras like rental car coverage, windscreen replacement, or towing can be useful but often add unnecessary costs.
Pro Tip: Check for any no-claims bonuses or loyalty discounts if you’ve been with the same provider for a while. Adjusting coverage levels based on your car’s age can also help reduce costs.
5. Reevaluate Your Car Loan or Financing Terms
Reevaluate Your Car Loan or Financing Terms
Car loans can be a big drain on monthly expenses, especially with high-interest rates commonly associated with vehicle financing. For luxury car owners, refinancing or consolidating car loans against a home mortgage can provide considerable savings, offering the advantage of lower interest rates and potentially fixed terms. Here’s how you can get smart about managing car financing costs:
How to Start: Refinancing and Making Extra Payments
Refinancing Your Car Loan
Begin by checking your current interest rate. If your rate is over 5-6%, there’s a good chance refinancing could save you money. Contact your bank or credit union to see if they can offer a lower rate. Even a small reduction in interest can result in major savings over the loan term. For example, dropping from an 8.5% rate to 4.9% could save $400 annually on a $20,000 balance.
Let’s Break it Down: Ways You Can Save Money On Your Car Through Financing Knowhow
The Most Obvious: Making Extra Monthly Payments
Adding even a small extra amount to your monthly payment — say, $50 to $100 — can significantly cut down the total interest paid over the life of the loan and even shorten the term. I get that this isn’t very cutting edge – but this simple strategy can save you hundreds or even thousands in interest and pay off the loan faster.
Insider’s Tip: Consolidate with Your Mortgage for Big Savings
For owners of high-end vehicles like sports cars, supercars, and European imports, financing through a standard car loan can carry high interest rates. An alternative used by many savvy car owners is to consolidate the car loan into a mortgage, which usually has a much lower interest rate – I’ll quickly break down how many luxury car owners get a far, far better rate than those buying regular commuter cars:
Using a Mortgage or Paid Off Real Estate to Finance Your Car and Save Money on Exisiting Car Loans
By consolidating your car loan into your mortgage, you can potentially save a significant amount on interest, as mortgages typically have lower rates than car loans. Many Australian homeowners refinance their mortgage to include a luxury car purchase, getting rates as low as 2-3% compared to typical car loan rates of 6-8%.
Benefits of a Fixed-Rate Mortgage Loan
Mortgages can come with fixed-rate options, providing a stable, predictable repayment plan for the life of the loan – and obviously much longer pay off terms. This means you won’t be affected by market fluctuations that could increase your car loan rate, allowing you to finance a high-value car with lower, manageable payments.
The Basics of How to Consolidate a Car Loan with Your Mortgage
Step 1: Contact your mortgage provider to discuss refinancing options. Explain that you’d like to consolidate your car loan with your mortgage for a more favorable rate.
Step 2: If approved, the mortgage provider will assess your home’s current equity (the value of your home minus any outstanding mortgage balance) to see if it covers the amount of your car loan.
Step 3: Once consolidated, your car debt is effectively rolled into your home loan, allowing you to pay it off over the longer mortgage term with a much lower interest rate.
Why Many Luxury Car Owners Use This Strategy
Consolidating car loans with your mortgage makes financing high-end cars a much easier pill to swallow! Don’t get me wrong you’re still spending money, let’s not forget you either have to pay more on the home loan or pay your loan for longer… But it’s become common among luxury vehicle owners because it provides a way to enjoy the car they want at a fraction of the usual financing cost – and for some, it’s a way to stretch the budget to get a car they otherwise couldn’t justify; but have always wanted. Vehicles like sports cars, supercars, and European brands tend to have high upfront and maintenance costs, and this strategy allows for a more manageable monthly payment.
By refinancing, making extra payments, or consolidating with your mortgage, you can save big on car loan costs and enjoy driving a luxury vehicle while keeping it all manageable and in budget. Obivously this is not a solution for everyone – but I know this is how many of the luxury car owners out there, as well as everyday folk, save on financing their car.
Let Send It Mobile Mechanical Services help you keep your investment in top shape, ensuring every dollar spent on your car goes further.
6. Use a Mobile Mechanic for Added Convenience and Cost Efficiency
Taking your car to a workshop often involves arranging alternate transportation and losing time. By using a mobile mechanic, you avoid the inconvenience and can stay productive while your car gets serviced.
- No Downtime: If you typically lose a day’s wage or have to arrange transportation, switching to a mobile service can save an average of $300 per year.
- Reduced Travel Costs: Mobile services eliminate the need for the uber from the service centre which is a cost you probably don’t factor into your servicing and car maintenance cost.
Pro Tip: Send It Mobile Mechanical Services comes to your home or office, letting you carry on with your day while we take care of your car’s needs.
7. Lighten Your Load: Save on Fuel and Maintenance by Keeping Only What You Need in Your Car
Every extra 100 kg in your car increases fuel consumption by roughly 3%. Carrying unnecessary items like sports equipment or heavy tools when they’re not needed adds up in terms of both fuel and wear on suspension and brakes.
- Fuel Efficiency: Reducing excess weight can save around $70 per year in fuel alone.
- Extended Tire and Brake Life: Less weight means reduced strain on tires and brakes, potentially saving $200 per year.
Tip: Check your car regularly and remove items you don’t need for the week ahead, especially heavy ones. The lighter your car, the better it performs!
8. Stick to Your Car’s Maintenance Schedule: Prevent Major Issues and Avoid High Repair Costs
Skipping or delaying maintenance may seem like a money-saver, but it often leads to bigger, more expensive problems down the road. Regular services keep your engine running smoothly, prevent oil sludge build-up, and avoid costly repairs.
- Avoid Costly Repairs: Staying on top of oil changes, filter replacements, and brake checks can prevent severe issues like engine failure or brake seizing, which can cost thousands.
- Improved Resale Value: A well-maintained car holds its value better, which can make a difference when you’re ready to sell or trade in.
Tip: Book in with Send It Mobile Mechanical Services, and we’ll send you reminders for upcoming maintenance, so you never miss a service. Keeping up with maintenance saves the average person about $250 annually or more by preventing big repairs.
In Conclusion: You Can Save Money on Your Car, Even with Small Changes
By making small adjustments to your driving habits and sticking to a regular maintenance routine, you can save thousands each year on car expenses. Need help with the upkeep? Reach out to Send It Mobile Mechanical Services for convenient, affordable, and top-quality car care. Our mobile service ensures that your car gets the attention it needs, without disrupting your day.
Ready to start saving? Contact us today to schedule a service or mobile roadworthy!
