Thursday, March 6, 2008

How to Save Money on Transportation

Here's some tips on how we can save money on transportation.


*Buy a Used Car-Because cars lose most of their value in the first few years, buying used allows you to drive a vehicle you probably couldn't afford brand new.

*Buy a Sipper, Not a Guzzler-You don't need a hybrid vehicle to save money on gas -- higher purchase prices can cancel out any savings. But a regular car with good gas mileage could save you hundreds of dollars a year on fuel.

*Re-Shop Your Car Insurance-Shopping around is especially important for young adults because their rates could drop as they approach age 25 or older, build a credit rating, start a career and get married. Insurers reward customers who are responsible.

*Drop Collision & Comprehensive Coverage

*Raise Your Deductible-Upping your out-of-pocket outlay from $250 to $1,000 on any car can save you 15% or more on your car insurance.

*Join Policies-When shopping around for auto insurance, check first with the company that provides your renters or homeowners insurance. You could snag up to 15% off for a multiple-line policy.

*Shop Around for Gas- A 20-cent difference on 60 gallons of gas per month adds up to $12 per month or $144 per year.

*Use a Gas Rebate Credit Card-If you frequent the pump, soften the financial sting with a credit card that'll give you cash back for filling up.

*Hop on the Bus, Gus- Public transportation can save you a bundle on commuting costs because you won't have to spend money on a parking space, gas and auto maintenance. Plus, you can probably get a lower insurance rate for driving less

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