 TITLE: What Are the True Costs of Car Ownership? CONTENT: How to Minimize the Costs of Owning a Car\n-----------------------------------------\nIf the thought of all these expenses has you rethinking car ownership, don't worry. There are plenty of steps you can take to help minimize your costs.\n*   **Pay attention to warranties.** After the manufacturer's \"bumper-to-bumper\" warranty expires, there may be an extended powertrain warranty that covers the car's major mechanical components. Using your warranty for covered repairs can save you money, but it's important to read the warranty carefully so you know what it includes, as well as any restrictions, exclusions or conditions. For example, you may need to have repairs done at a certain dealership or show proof that you performed all recommended maintenance.\n*   **Avoid long-term auto loans.** The interest on 72-, 84- or 96-month auto loans can really add up. If your budget can handle the higher monthly payments, a shorter loan term can save you thousands of dollars in interest over the life of the loan.\n*   **Lower your car insurance costs****.** Shop around to see which insurance company offers you the best rates on car insurance. Talk to your insurance agent to find additional ways you could save. Taking a defensive driving class, installing an app to monitor your driving habits, or increasing your deductible are just a few of the ways you might be able to lower your premiums.\n*   **Drive safely.** Steer clear of risky driving habits such as speeding or slamming on your brakes. They'll put you at greater risk of getting a ticket or having an accident, both of which could mean higher insurance premiums. Aggressive driving can also be hard on your car, costing you more in maintenance.\n*   **Look for ways to pay less at the pump.** Use an app like GasBuddy, GasGuru or Waze to find the cheapest fuel in your area. Check your owner's manual; if the car doesn't require premium gas, you can save by purchasing lower-grade fuel. Joining a warehouse club such as Costco that sells gas or using a supermarket gas rewards program can also cut your gas costs. If you really want to save at the pump, consider buying an alternative-fuel vehicle. AAA reports that the power costs associated with a compact electric car are $596 a year on average, compared with $1,255 you'd spend on gas for a similarly sized gas-powered car.\n*   **Take good care of your car.** Avoid costly repairs by getting your car maintained regularly. Check the owner's manual for recommended servicing intervals. You can save money by learning how to handle simple maintenance tasks such as changing bulbs, wiper blades and air filters. If you're more ambitious, learn how to change the oil or rotate the tires yourself.\n*   **Drive less.** You'll save on fuel and reduce wear and tear on your car by walking, biking or carpooling whenever you can. If you drive less, you may also qualify for low-mileage car insurance discounts. END