Car Ownership: Maintenance, Insurance and Warranties

The cost of owning a car is influenced by preventive maintenance which keeps the frequency of major repairs down and the price of insurance and warranties which keeps out-of-pocket costs for actual repairs down. Preventive maintenance can go a long way in avoiding costly repairs, but even with a diligent maintenance schedule, wear and tear, accidents or minor mishaps may occur. At this point getting the most appropriate insurance policy and warranty coverage can keep your out-of-pocket costs down.

The best way to keep a vehicle in good condition is to follow the manufacturer's maintenance schedule for the type of driving you do. This includes regular oil changes, part replacement, tire inflation, and fluid replacement. The next step is staying proactive, which simply requires paying attention to your car and your senses: look, smell, hear, and feel (we'll leave taste out). Looking on the ground where the car is parked can alert you too leaking antifreeze (engine overheating) or leaking oil (bad seals). Changes in smell like the smell of rotten eggs can indicate a problem with the catalytic converter. New sounds like a heavy, rhythmic pounding may signal a worn crankshaft. Finally, feeling how the vehicle drives is a great indicator of problems; for example, abrupt or hard shift between gears are often symptom of a transmission problem.

The second way to manage cost of ownership is finding the appropriate insurance and warranty programs. Insurance premiums can be reduced by making sure you take all discounts available to you, taking a higher deductible, getting free insurance quotes, dropping some coverage, cleaning up your credit report, and by getting the right car. Extended warranties are another way to mange costs. Most extended warranties programs offered by dealers as extended service contracts are generally not worth it. Today's cars last much longer and come with solid manufacturer warranties. That being said depending on your situation and the car you purchase extended warranties can be a smart buy. Again we suggest you getting free extended warranty quotes.

In all cases the greatest single factor that impacts the Total Cost of Ownership is the vehicle you purchase.

The following is a list of the lowest cost of ownership vehicles. Request a Free Discounted New Car Quote here.