Saving some money this summer

Want to save some money this summer? And be green in the process?

The summer is upon us and thus the summer travel season. Although gas prices are down a bit, they are still rather hideous, aren’t they? It has been a long time since gas dipped below the $2 per gallon mark, but it was way down there within memory, wasn’t it? So as we plan our summer travels and wistfully recall fonder gas prices, the ugly reality of $3.60 or so just won’t go away.

Fortunately, there is something you can do about it! By following a few simple guidelines, you can improve your car’s mileage and have more money to spend on other, more appropriate summer expenses.

Gas saving measures come in a couple of varieties: mainly car maintenance and driving technique.

 Keeping your car serviced is part of good ownership. It can also make a difference in your mileage, up to 5% according to www.fueleconomy.gov, provided that you have the proper grade of motor oil lubing your engine. You can also improve your mileage by keeping your tires properly inflated. Particularly before a road trip, check your tire pressure and adjust it as necessary. Don’t go overboard; overinflating tires can be dangerous. Stay within 2 or 3 pounds of the manufacturer’s recommendation. Consult your car’s owner’s manual if you are not certain about either motor oil grades or tire inflation. If you’ve lost your owner’s manual, check the internet.

Keeping your car tidy can also save miles. Sure, it can be handy to carry around your golf clubs at all times, but excess weight means excess work for your engine and less efficiency for your gasoline dollar.

There are driving techniques that can improve mileage and save money as well. The first, and least fun, is to watch your mileage. Adhering to posted speed limits in town not only makes good legal sense, it is also good manners and keeps your mileage in line. Avoid “jack-rabbit” starts and sudden braking. Both of these are inefficient uses of your engine and waste gas. Also, avoid idling whenever possible. When you are idle, you are getting zero miles per gallon.

There is an e-mail that makes the rounds every so often that purports the practices of filling up your tank in the morning and refilling when the tank is only half-empty will improve your gas mileage. The science behind this is somewhat arguable, but it isn’t like there is anything wrong with either one. Just don’t expect drastic improvements.

Getting ready for a big trip? Here are four things you can do: 1) Get your car serviced if you are within 500 miles of needing a visit to the mechanic. 2) Make sure that your tires are properly inflated. Consult your owner’s manual and do not over inflate. 3) Pack sensibly. 4) Choose a reasonable speed at which to drive.

Another word about driving speed and saving gas: there is a balance to be maintained. Sure, your car may function more efficiently at 55 mph than 75 mph, but weigh the savings against the costs. Assume that you are driving 400 miles to get to your destination and that driving 55 mph rather than 75 mph realizes a 20% savings on gas. At $3.85 per gallon, you will save over $20 for the round trip. However, you will also spend almost four more hours on the road. Saving money is good, but time is also a valuable resource, especially when you’re on vacation.

And if you choose to drive 55 mph, please, for the love of God, stay in the right hand lane. Thank you. 

This Ever-changing World in which We Live in

For many years now, the conventional wisdom has been that used cars offer a better overall financial deal than used cars. Well, it took a sea change for that to become the conventional wisdom and it might be time for another look. 

My grandfather was a mechanic in a small town in Southeast Kansas. He could fix anything, be it car, truck, or farm equipment. He taught his children that buying a used car was buying somebody else’s problem. It made sense at the time. In those days, people bought cars and drove them for their useful life. If anyone was selling a car, there was probably a reason.

As our economy developed and the auto industry became more competitive, folks began to trade cars more often. It may have been conspicuous consumption, or accommodating growing families, or just wanting the latest in an ever-evolving selection of bells and whistles, but more perfectly good used cars were available in the marketplace.

More than one automobile sales professional in the past ten years has told me that the best deal in a car of any kind is a used car with a manufacturer’s warranty. These tend to be vehicles that were driven by corporate users and have been well-maintained as well as completely refurbished and evaluated by the manufacturer before being placed back into the marketplace.

Think about a sales person who works for a medical supplies company and drives around a lot visiting customers and delivering product. It is more cost efficient for their employer to buy a large number of cars directly from Ford or Toyota, distribute those cars to their sales force, and insure those cars through one policy than to manage transportation for all of their employees individually. This same company will replace these cars on a regular basis and return them to the manufacturer, who will place them into the market creating a secondary supply.

However, in since the recession, the landscape has changed again. The market for used cars, particularly the high-quality, manufacturer’s warranted type, has become increasingly competitive. When looking for a small, fuel-efficient car last summer, my husband and I found that the difference between new and used in our car category of choice was minimal. All of the great bargains in used cars were in the luxury segment, or in minivans. We bought a new Honda Fit and plan on driving it for at least five years, although based on my personal history our little Scooter doesn’t have to worry about being traded until 2020 or beyond.

Used cars are not the rejects of my grandfather’s era, but they cannot universally be considered better deals financially than new units. If you are looking to buy or replace a car, certainly give used cars a chance, but don’t discard the possibility of buying a new car out of hand. This advice particularly applies to fuel efficient vehicles that you plan to own for at least five years.  

For more information, check out this article from Kiplinger: http://kiplinger.com/columns/kiptips/archives/when-it-pays-to-buy-a-new-car.html