Realistic Ways to Reduce Vehicle Expenses

Individuals and business owners are always looking for ways to lower their expenses. One of the most common areas in which they can do so is related to the operation of vehicles. Cars, trucks, vans, and motorcycles cost money to purchase, maintain, insure, use, and repair. When it comes to minimizing monthly expenses, there are plenty of opportunities centered around vehicles.

Commercial fleets can leverage the power of electric vehicles to save big, while individuals can opt for one of the many PHEVs (plug-in electric vehicles) currently on the market. There are plenty of other tactics for cutting vehicle-related expenses for private and commercial owners. Minimizing mileage is one of the simplest, while regular maintenance and indoor garaging can reduce insurance and operating costs. Consider the following techniques that have proven effective ways to make vehicle ownership and operation more affordable.

EVs in Commercial Fleets

Fuel efficiency is a major component of total monthly expenses in fleet management. Now, more companies are transitioning to electric vehicles (EVs) not just because they’re cleaner and more environmentally sustainable but also for their fuel-efficient characteristics. Owners who want to minimize the cost of operating fleets can do themselves a favor by going electric. Fleet supervisors juggle different responsibilities, but efficient operations are one of the main areas they pay attention to. Electric trucks and cars require less maintenance than combustion vehicles.

PHEVs for Individuals

When the Chevy Volt made its debut in 2011, consumers discovered first-hand that PHEVs were a way to get the best of both worlds, the fuel efficiency of EVs and the long-distance range of combustion engines. For city dwellers especially, PHEVs paid off, and after the Volt, several other carmakers began offering plug-in hybrids to the public with great success. Today, nearly every automaker has at least one PHEV in its lineup, and more are scheduled to arrive in showrooms for the 2023 model year.

Mileage Minimization Tactics

The MM technique has been around for decades but is only now making a major comeback. It originated during the energy crisis of the 1970s when millions of drivers were forced to cut down on their daily mileage. Some of the more workable methods include combining errands so as to make fewer unnecessary trips, using public transportation whenever possible, and carpooling to work.

Regular Maintenance

Too often, car and truck owners forget that regular maintenance contributes to better mileage and longer vehicle life which can help make saving money easier over time. Make sure to have engines checked at least once per year, tires twice annually, and other systems and components as needed. What are the benefits? Besides better fuel mileage, owners who take good care of their cars, trucks, and motorcycles get many more years of use from them. Keeping tires inflated to their recommended PSI can increase fuel efficiency and make a car safer to drive.

Indoor Garaging

Park your cars and trucks inside at night for insurance savings and lower theft risk. Plus, indoor garaging extends the life of vehicles because they’re not exposed to adverse weather conditions 24/7. Remember to tell your insurer that you have and use an indoor parking area. The vast majority of carriers will offer you a reduced rate of theft coverage. Most auto theft occurs in the dead of night.




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