Eight Easy Ways to Curb Your Car Costs

by US EquityAdvantage | Feb 05, 2015

Americans spend about $9,000 a year to own and operate an automobile, according to a recent study by AAA. Gas, maintenance, repairs, insurance, tires and finance costs can take a big chunk out of any household budget.

US Equity Advantage® (USEA) has compiled the following list of eight easy ways to economize on almost every aspect of car ownership*.

  1. Heat Things Up – Driving in city conditions with a cold engine can reduce fuel efficiency by up to 4 mpg, so combine small trips to save gas.
  2. Slow Ride – According to AAA, aerodynamic drag can reduce gas mileage by about 5 mpg for every 10 mph increase over 55 mph.
  3. Easy Does It – Speeding, rapid acceleration and braking can reduce gas mileage by one-third at highway speeds and by around 5 percent in city driving.
  4. Pump It Up – Low tire pressure can reduce fuel efficiency by .3 percent for every 1 psi drop in pressure for all four tires. If a car’s tires are low by 10 psi, it’s the equivalent of paying 10 cents more per gallon of gas.
  5. Tune Up Time – Improve fuel efficiency up to 4 percent by getting a tune-up if your car has failed an emissions test and up to 40 percent when fixing a more serious problem like a faulty oxygen sensor.
  6. Share the Ride – A 40-mile round trip commute that costs $203/month for a single driver goes down to $102/month per driver for a two-person carpool and $68/month per driver for a three-person carpool.
  7. Raise Your Deductible – Raising your insurance deductible from $200 to $500 could reduce your collision premium by 15-30 percent. A $1,000 deductible could save 40 percent.
  8. Pay Biweekly – The average new car buyer borrows $27,430 and pays 4.2 percent interest. Dividing the monthly payment in half and pay that amount every two weeks save $212.43 in interest and pay off the car loan five months sooner.

Biweekly Car Payments Reduce Car Costs

“Biweekly loan payments are one of the simplest ways for consumers to reduce their car costs by shortening the term of a loan and saving money on interest without increasing the monthly payment amount,” explained USEA CEO Robert Steenbergh.

“It works using simple math. Standard loans require one payment every month. Biweekly loan payments divide this payment in half and pay that amount every two weeks. Because there are 52 weeks in a year, the borrower makes 13 payments over the course of a year (instead of 12) with the extra payment applied to the principal. On a monthly basis, the payment amount is the same. However, the one extra payment a year can save hundreds to thousands of dollars in interest over the life of a loan.”

US Equity Advantage (USEA) an industry leader in providing biweekly and early loan payoff services for debts ranging from automotive loans and home mortgages to student loans and credit cards. Since 2003, the company has enrolled more than 127,000 members and helped them save a projected $57 million in interest.

Founded in 2003, US Equity Advantage (USEA) is an industry leader in biweekly and early loan payoff services from home and automotive to RV, boat and student loans.  USEA helps its members reach their financial goals faster through flexible payment plans to accelerate their loan payoff, ultimately saving money in costly interest, staying within their budget and building valuable equity.  For more information please visit:

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