Losing Money Driving a Lemon? 4 Ways to Lower Your Monthly Car Expenses

Monday, September 9, 2019, 6:00 AM | Leave Comment

Driving an old or rundown vehicle is more expensive than most people realize, and you could end up spending thousands a year on repairs if you don’t keep your vehicle properly maintained.

Luckily, there are a few steps that you can take to improve the efficiency of your vehicle and increase its lifespan.

Losing Money Driving a Lemon 4 Ways to Lower Your Monthly Car Expenses

  1. Upgrade the Engine

    One of the best ways to boost your vehicle’s fuel efficiency is to invest in a few simple car mods. If you have a relatively new vehicle, then you might want to pick up an OBD tuning kit. With one of those kits, you can automatically tune your vehicle with a small device that plugs into the OBD port. You can then alter the engine’s specs with your laptop or smartphone to improve its efficiency or increase its horsepower.

  2. Take Advantage of Your Warranty

    As long as you purchased your vehicle from a dealership, you most likely have some type of warranty. Upgraded warranties often cover a wide array of repairs and maintenance tasks including rotating the tires, changing the oil, and replacing any defective parts. You might also have a warranty directly through the manufacturer if your vehicle is only a few years old. Those warranties typically cover recalls as well as defective parts.

  3. Negotiate a Maintenance Contract

    When you are negotiating with a salesperson, you might want to talk about a maintenance contract. Most larger dealerships have their own service departments, and adding a maintenance clause to a contract isn’t going to cost them a lot of money. That clause could include any number of maintenance tasks ranging from professional tune-ups to oil changes.

  4. Sell Your Vehicle for a New Down Payment

    No matter what steps you take to protect and maintain your vehicle, there may come a point when you need to sell it. If you are spending thousands a year on repairs, then you should consider selling it to a company that offers money for junk cars. Many of those companies will give you cash on the spot, and they might even offer to tow it away for free.

Unfortunately, some car dealers will knowingly sell lemons if they think that they can get away with it, and one of those vehicles will wreak havoc on your finances. If you were recently sold a lemon, then you must contact an attorney to explore all of your legal options.

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