Purchasing a car has never been easier. With the combination of online research and websites that allow buyers to get no hassle, reasonably fair pricing, the only part of the process that takes time these days is researching the exact car specs a buyer wants.
This research however can take a huge amount of time. Besides viewing the variety of choices that auto dealers have to offer on their lots, the average American spends roughly 11 hours researching what car they want online. The reason many people invest so much time into this process is because on average a person spends roughly 10% of their lifetime earnings on their automobiles.
The problem with this number is that many people do not realize that a hefty portion of that 10% comes after buying their new car. With the cost of gas having risen from $1.47 in 2001 to over $4 in 2014, and the ever-impending maintenance and repair costs associated with a new car, many owners are looking to find ways to save money.
Companies such as IntelliChoice (which was founded by Carjojo’s founder) help potential car buyers by allowing them to research what cars have the lowest cost of ownership. They measure seven different criteria, which allow car buyers to see what they’ll spend in each of the cost areas over the first five years of ownership. By having this available, many of the costs that were hidden from potential buyers are now available with the click of a button.
However, these numbers only take a car buyer so far. Once they make their final decision and buy their car, maintenance becomes key in prolonging the life of their vehicle, and saving money day-to-day. One of the easiest ways to do this is by keeping the tire pressure of their car at the recommended level. This level can be found on a sticker often placed on the inside of the driver side door. If kept at the correct level, car owners could save up to $250 annually. Unfortunately, a survey funded by “Shrader International—the company that makes tire inflation valve stems and ‘a global leader in Tire Pressure Monitoring Systems’ – found that 42 percent of drivers are unable to identify the low-tire-pressure warning light in the gauge cluster.” This lack of knowledge could become costly for car owners. If they are not able to identify that their car has low tire pressure, what else might they be unaware of?
Despite all of the new technology to make the car buying process easier, owners could still be saving more money—starting with a few extra minutes of research and a tire pump.