though.
•Cars that are more expensive to repair are going to cost more to insure
•Choosing higher deductibles can help to curb monthly costs
•Bundle insurance policies; having multiple policies with one company can qualify you for additional discounts
•Young drivers can lower insurance costs by earning good grades and not having a car in their name.
Depreciation
Everyone knows that as soon as you drive a new car off the lot, it is worth less. In order to avoid that hit in value, there are a few things you can do:
•Buy used car— With lease programs still being popular options, many good vehicles are returned to the dealerships after a few years with less than 50,000 miles on them. Often, you are able to buy an extended warranty up to 100,000 miles, making these much less expensive choices, but still back by the manufacturer.
•Take care of your car— Take your car for regular oil changes and tire rotations.Regularly wash your car, some environmental factors can actually be corrosive to your car’s paint over time.
•Drive your car longer— Most depreciation occurs when the car is new and decreases at a slower rate the older the car gets. Buying a car and trading it in after only two or three years can put you in a negative-equity situation, whereas, keeping the car and driving it for six or seven years allows you to pay off the auto loan and, typically, get past any negative equity.
"The overall cost of owning a vehicle went up 1.96% last year"
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