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Money Saving Advice That Car Owners Must Follow

  • Highlights

  • Buy car insurance for maximum protection

  • Build your credit score for lower premiums

  • Maintain your vehicle

  • Reduce expenses by driving with care

After a home, your car is probably one of your biggest purchase. If it is, you’ll find here some of the best tips on how to save money on a car. As a car owner, from car accessories to fuel, you must know how to cut down your expenses and invest them in something equally useful.

Don’t Rely on Extended Warranties

One of the best ways to save money on car insurance is known by extending your car warranty. Once your car warranty is extended you can save a large sum of money on your day-to-day car expenses. While car dealers may spend most of the time discussing the extended warranty, do not consider it as a replacement of insurance. Remember, warranties do not cover huge expenses. So, to save money on such costs opt for car insurance or commercial vehicle insurance depending on the usage of your car.

Build a good credit score to avail lower insurance premiums

Did you know that you can avail of lower insurance premiums with a good credit score? A high credit score proves your creditworthiness and hence insurance providers are likely to be willing to offer you lower premiums. On the contrary, if you have a bad credit score you may end up paying higher premiums. So, work on your credit score before applying to get more savings.

Oiling and Tire Replacement

Save money on oil and tire replacement by keeping a check on them regularly. Keeping a regular check on your tires and oil filters will significantly reduce the amount of money spent on maintenance and the health of the vehicle. Cleaning your tyres regularly will help to remove gravel, stones, pebbles from them and make your ride smooth. Tyres air pressure can also moderate the pressure of ground friction and hence the chances of losing vehicle balance is high. You can opt for good oil and keep your tyres maintained to save on the petty expenses that you may make regularly that add up to a sizeable amount

On-Time Wheel Balancing & Alignment

One of the things that you must be worried about is your vehicle suspension and the costs involved in them. Make sure you go for one-time compulsory wheel balancing and alignment. Proper alignment of the wheel will enhance tire life, wear and tear of parts, and save your money.

Planning Car Insurance

Planning car insurance is always a good idea to save your cost on multiple factors. If you are looking for budget-friendly options, you can trust reputed corporate agents like Bajaj Finance Limited. The company provides policies that protect your vehicle from own damage, third-party damage, acts of terrorism, riots, fire, natural disasters, and more.
With the Insurance Bazaar at Bajaj Finance, buy car insurance within minutes and enjoy add-on covers such as personal accident cover, no claim bonus, roadside assistance as well as competitive premium rates and enjoy renewal benefits.One of the things that you must be worried about is your vehicle suspension and the costs involved in them. Make sure you go for one-time compulsory wheel balancing and alignment. Proper alignment of the wheel will enhance tire life, wear and tear of parts, and save your money.

Plan Coverage on Older Vehicles

As your car gets old the depreciation on the car is increased. A 10-year-old car will have 10 times the depreciated value so maintaining it will be costly. Modify your old car and stay covered at a low premium rate.

Conclusion

Now that you know how to save money on your car, keep these tips handy and apply them to save on expenses. Additionally, if you are wondering how to save money on car payments you can start by calculating your down payment and deciding the budget for your car expenses. Other tips that might help you are automating your savings, selling or trading your current car and lastly, you can pick up a side hustle to earn more.

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Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third party products.”

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