Saving for Your Startup: How to Slash the Cost of Running Your Car

As many entrepreneurs invest most of their money into their startup business, they may want to minimize their personal expenditure. Apart from your mortgage or rent, running a vehicle can be one of your biggest expenses each month. Thankfully, there are things you can do to cut your expenditure. Find out how to slash the cost of running a car.

Consider Buying a Used Vehicle

Of course, the best way to cut the costs of owning a car is to buy the best make and model for your budget. Those wanting to save money on a vehicle price should consider purchasing a second-hand car, so they can enjoy a reliable vehicle at a fraction of the original RRP. To do so, simply consult a dependable dealership, such as Bob Gillingham Ford, a family owned and operated Ford dealer.

Avoid Using Your Air Conditioner

You might not realize that running your car’s air conditioner could decrease its fuel economy by more than 25%. It is, therefore, a smart idea to either set the A/C to a higher temperature or avoid using it altogether. If the heat is unbearable inside the car, drive with your windows open until you need to turn the air conditioner on. You could save up to $120 annually in fuel costs.

Don’t Use Premium Gasoline

Unless the owner’s manual states otherwise, or you have a high-performance engine, you should avoid buying premium gasoline for your vehicle, as it offers next to no benefit. Premium gas costs approximately 10-15% more than its inexpensive alternatives, so save your money without compromising on fuel.

Drive Sensibly to Lower Your Gas Mileage

Did you know that speeding, hard braking and fast acceleration can quickly waste gas? Unfortunately, this can lower your vehicle’s gas mileage by an incredible 33% along highway speeds. Avoiding aggressive driving could help you to save between 13 to 89 cents a gallon, or $477 per year, which will depend on the highway miles you accumulate and how aggressively you drive.

Attempt to Drive at 50mph

It is common for your gas mileage to decline once you speed reaches over 50mph, which is why you should set cruise control on your car. To put this into perspective, you will pay an extra 20 cents per gallon for every 5mph extra you drive above 50mph. So, if you regularly drive 60mph on the freeway, you could potentially save $198 per year by reducing your speed. The money saved can, therefore, be invested directly into your new business.

Pick the Perfect Motor Oil

Are you using the vehicle manufacturer’s recommended grade of motor oil? If your answer is no, you could be lowering your gas mileage by 1-2%, as it will increase engine friction. Protect the metal surfaces within your engine by adding the correct oil into your vehicle, as this unwanted grinding could otherwise damage your car. What’s more, you should look for a motor oil that states it is energy conserving, which will indicate that it can reduce engine friction.

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