AP
- Cars are getting more and more expensive in the US.
- Sales data compiled by the Kelley Blue Book show that the average car cost more than $36,500 in February or nearly $1,000 more than in February 2018.
- We turned to the experts at Edmunds.com and Kelley Blue Book for some handy tips on how to make your car last longer and save you money.
Cars are big tickets buys for most American families. In fact, it’s usually the second biggest purchase right after the family home.
Unfortunately, cars are getting more and more expensive in the US. Sales data compiled by the Kelley Blue Book show that the average car cost more than $36,500 in February or nearly $1,000 more than in February 2018. Some of the more popular segments of the market were even more expensive. For example, full-size pickup trucks such as the Ford F-Series, Chevrolet Silverado, and the Ram 1500 had an average transaction cost of $49,958. That’s an increase of more than $3,000 over the same period in 2018. Compact crossover SUVs like the Honda CR-V and Toyota RAV cost an average of $29,259, up nearly $800 over the same time last year.
Read more: What your check engine light really means.
According to the US Bureau of Transportation Statistics, the average cars on the road in 2017 was 10.1 years old. That’s up from 9.5 years of age in 2009 and 9.0 years in 2001.
Regardless of whether this trend is caused by better build quality or increasingly high prices, the result is the same; cars are lasting a long time.
Recently, Business Insider spoke with Kelley Blue Book executive editor Michael Harley and Edmunds.com senior consumer advice editor Ron Montoya for some tips on how to make your last longer and save you money.
Fortunately, most of the advice is simple, common sense practices that don’t require much effort or expertise to implement.
1. Follow the manufacturers’ recommended service schedule.
Shutterstock/Welcomia
Both Montoya and Harley emphasized the importance of following your car’s service schedule.
"The best way to prolong the life of your vehicle is to stay on top of the scheduled maintenance," Montoya said.
Your owners manual should have a detailed outline of when the maintenance should occur and what will need to be addressed at each time.
This includes oil and filter changes along with inspections of your car’s tires, brakes, and fluid levels.
Montoy and Harley both say the old 3,000-mile per oil change rule no longer applies to modern cars.
"There could be oil changes anywhere between 3,750 miles for a severe service if you do a lot of stop-and-go driving or upwards of 15,000 miles between oil changes if you do a lot highway commuting," Harley said.
Each car maker will spell out the oil change intervals in the owners manual.
2. Check your tire pressure.
Shutterstock/Welcomia
Make sure the tires on your car are set at the optimum air pressure. Most cars will have the proper air pressure listed in the owners manual as well as in the driver’s door frame.
Both Harley and Montoya suggested drivers check their tire pressure at least once a month.
"A lot of people just wait until the (tire pressure monitor) light to come on," Montoya said. "That’s not when you should be replacing the air in your tires. At that point, it’s actually a little too late and it’s an emergency situation."
Not only will maintaining proper air pressure will help optimize the car’s handling and braking, but it will also save you money.
"If you let your tires run too low or too high, you’re going to get abnormal wear and tires are expensive," Harley said.
3. Make sure you take care of the little things.
Sutterstock/Welcomia
One way to extend to life your car is to take care of the little things before they escalate into the big problems, Harley told us.
For example, if a faulty oxygen sensor triggers the check engine light, replace the sensor before it caused excess wear to your car’s catalytic converter.
And installing new catalytic converters is a much more expensive job.
See the rest of the story at Business Insider
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Source: Business Insider – bzhang@businessinsider.com (Benjamin Zhang)