Owning a car can be very expensive. One thing that makes it even more expensive is when you make a lot of ownership mistakes. Whether your car is new or you drive a used car, you need to be proactive as a car owner and not take things for granted. 

The problem is that many car owners don’t do much when it comes to their cars. They take it to the mechanic when it has problems and otherwise ignores its basic needs. This is a costly mistake as you should be doing more to take care of your car and the things concerning it. In this article, we will go over several mistakes to avoid that are costing you money. 

Also, Read: Why It Is Important to Check a Used Car’s Verification Identification Number (VIN) Before Purchase

Not Getting the Extended Warranty

When you buy a new car, you are almost always offered the possibility to buy an extended warranty to protect your car and finances. Many people pass on it because it seems like it isn’t worth it. The reality is that it can be just what you need when you get an unexpected repair for your car. 

When offered the possibility to buy an extended warranty, look into what the coverage is and see if it will fit in with your needs. You may be surprised to find that it will save you money in the long run. 

There are even many used car warranty companies so you can always get an extended warranty even if you aren’t driving a new car. 

Not Updating Your Insurance

Insurance is mandatory in just about every state. However, paying too much for it is optional. Most people are paying far too much for car insurance without even realizing it. You should take a look at what you’re paying for when it comes to your insurance as you may be spending far too much. 

For instance, if you have comprehensive insurance but are no longer making any car loan payments then you can get rid of the fire and theft protection and save a bundle. There are usually other items that may not be relevant to you that can be removed as well. 

You should also shop around once per year to see if the competition will give you a better rate. Getting a quote costs nothing but your time and can result in changing providers for a lower premium.

Ignoring Maintenance

You can avoid a lot of high costs by making sure that you take care of routine maintenance with your car. Ignoring the owner’s manual and not maintaining the car will definitely result in an expensive repair at some point. For instance, when you don’t change your oil, the parts in the engine wear down due to friction. They will fail much earlier as a result and lead to a costly repair. 
If you don’t change the timing belt, then you risk your car engine seizing up when it breaks and you will spend thousands to fix it. It may even cost more than your car is worth.