Reduce Car Expenses to Stretch your Retirement Income
expenses consumes a large part of Baby Boomers income. First,
there's the cost of purchasing an automobile, then
licensing, insurance, parking and regular maintenance, not
to mention the skyrocketing cost of gasoline. Add it all up
and it is a big chunk of money. One rule of thumb is
that your total car expense should not exceed 20 percent of
your household (after tax) income.
There are many ways for baby Boomers to reduce their car
expenses, and most of them easy to implement.
How to Save Money by Reducing Car Expenses
selected articles offering useful advice on this subject:
If you use your car primarily for local travel (getting
about town, shopping, etc.), obviously it pays to car pool,
take the bus or ride your bicycle whenever possible.
Also, if your car is paid off, then perform regular
maintenance and drive it into the ground UNLESS your car
requires premium gas, in which case you should evaluate the
merits of trading for a car that runs on cheaper regular
gasoline. If your car isn't paid off and your current
interest rate is high, a new loan might save you money now
and over the life of your loan.
How to Buy a Car for Less!
Buying a new car will dent your budget. Used cars cost
considerably less. Since new cars dramatically
depreciate in value during the first two years, you can get
a "broken in" automobile which still under warranty at as
much as a 50 percent savings! And look for smaller,
more fuel-efficient cars. Here are some reputable
Websites that can help you determine how much to pay for a
new or used car, and assist you in finding a good, reliable
provides True Market Value pricing, unbiased car
reviews, ratings, and expert advice to help you get a
Gasoline prices change frequently and may vary by as much as
20 percent within only a few blocks.
GasPriceWatch.com can help you find cheap gas prices in
your city. They are networks of gas price information
websites and spotters that help you find low gasoline prices
in your area.
You can often save a bundle by combining your home and car
insurance with a single insurance agency. Take the
highest deductible you can afford. Here's an
It also pays to comparison shop car insurance. To get
quotes without having to give your name or phone number, go