Check the current interest rate on your existing auto loan(s). You might might be able to reduce your monthly payments by refinancing your auto loan at lower interest rates:

SayLending: compare numbers using our loan calculator Refinance Your Auto Loan: Select State... Alabama Alaska Arizona Arkansas North California South California Colorado Connecticut DC Washington Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

Another option is to payoff your existing auto loan balances with a home equity loan.

Home equity rates are as low or lower than many auto refinancing rates. Plus, you can extend the repayment term to significantly lower your monthly payment if needed.

Also note that home equity interest rate charges qualify for tax deductibility — another way to reduce your monthly costs if you qualify. See your tax advisor for information.

SayLending:  Compare numbers using your home equity.
SayLending:  View home equity rates
SayLending:  View home equity options for auto refinancing

Getting out of your lease

you may need to get out of lease to save on costs --
there are options:

• www.leasetrader.com
• www.swapalease.com

Insurance rates are determined by a number of factors including your driving record, members of your family, the car you drive, your marital status, where you live, age, gender, and in some cases, your credit history.

The best way to lower your insurance premiums is to compare and shop around (especially if one of your life factors change like getting married).

Direct insurance programs pass the savings onto you

The insurance premium has two components. One part goes to the insurance underwriter (85-90%); the other part goes to the insurance agent that sold you the policy (10-15%).

So cut out the middle man and buy your auto insurance directly from the insurance company. You could possibly save anywhere from 10-15% or more on your insurance premiums.

Compare insurance online:

link directly to our nBuy center for an online quote from the nation's leading auto insurance providers

Bundle your insurance needs

Another way to reduce costs is to bundle your insurance policies with one company.

Example, if you have your home insurance with Company A and your auto insurance with Company B, compare the cost between the two companies if you bundled your insurance policies with one company.

Compare these costs with other insurance providers.

View company financial ratings: ambest.com

Make online comparisons with multiple providers to estimate best cost:

Compare insurance bundling:

link directly to our nBuy center for online quotes from the nation's leading insurance providers

Fuel economy tips from fueleconomy.com:

1. driving more efficiently
   
2. keeping your car in shape
   
3. planning and combining trips
   
   can save $100s each year.
   
   also check out other ways to save on fuel:
   www.ftc.gov
   

Use lower octane

Check the octane requirements for your vehicle. Less than 10% of vehicles require higher octane fuel, which can average about $0.20 cents more per gallon.

More information about high octane use

Shop your gasoline

Shop around for the less expensive gas:
Search and compare gasoline prices

or use GasBuddy to search gas prices by city:

Join a club membership group

Membership warehouses often offer reduced gasoline prices for its members. Check for a club membership in your area:

SamsClub
Costco
BJs

Buy a more fuel economy car

Search and compare fuel consumption by model
Search for cars that don't need gasoline

Auto showroom:

link directly to our nBuy auto showroom for a line-up of autos (new and used) and consumer auto guides

Use a gasoline rebate credit card

Earn up to 3-5% rebates on gasoline purchases. Redeem rebates for future gasoline purchases.

View credit card list

A little preventive maintenance can keep your auto going:

View this service checklist
Auto maintenance tips

Auto service center:

link directly to our nBuy center for complete auto care and auto maintenance guides

Perhaps you repair your own cars. Shop online and retail auto repair parts:

Checker Auto Parts @ PartsAmerica.com

You get the lowest prices, best quality auto parts, and the most helpful automotive technical reps at Perfect Auto Parts.

DIAL-A-CLUTCH.com for LuK standard clutches

Mustang and Other Classics Parts & Accessories

Auto parts center:

link directly to our nBuy center for complete auto parts and auto maintenance guides

You might consider purchasing a warranty contract to protect against major vehicle repairs.

Don't buy your warranty coverage from an auto dealer. Markup on cost can average 50-100%.

Keep in mind that the fine print and other exclusions may not justify the cost. Run your numbers to justify your coverage costs.

Places to start:
auto warranty buying guide
facts for consumers: auto service contracts

Find your warranty:

link directly to our nBuy center for auto warranty quotes

You can reduce fuel consumption costs plus relieve yourself of driving stress by car pooling and taking public transportation:

Find public transportation in your area
Find ride share buddies in your area

Check your local governments for ride share information

You can reduce fuel costs by roller blading, biking, motor scootering, and even motor biking to work, school, shopping, etc.

SayPlanning:  Link to our Garage Center for product info

Beware of depreciation (which can vary by car).
How depreciation works?

A car loses about 15-20 percent of its value each year. For example:

1. Let's start with a 1-year old used car worth $15,000 that loses 15% of its value each year.
   
2. At 2 years old, the car value is worth $12,750
   (85% of $15,000).
   
3. At 3 years old, the car value is worth $10,838
   (85% of $12,750)

So what is the value of a new car

You can lose thousands once your drive your new car off the dealer's lot. Why?

Because the price you paid for the car is the retail price (not counting the taxes and licensing that are sunk costs). If you drove that new car back to the dealer, the most the dealer will pay is the wholesale price (the same price he would pay the manufacturer).

So your value drops instantly from the retail price to the wholesale price once you take possession. That drop could be in the thousands depending on the type of car and model.

So what not buy used

You will be paying for the market value of the car instead of dealer markup.

Some 1 year-old cars are great values that can save you thousands in financing costs. Get the facts:

consumer guide vehicle history report

www.carfax.com
Kelley Blue Book


Some places to look for used cars:

link directly to our nBuy auto showroom for a line-up of autos (new and used) and consumer auto guides

Should you lease to reduce costs

Leasing is simply a 3-yr or more rental agreement. You are renting the car for a period of time that you will return at the end of your leasing agreement.

The advantage of leasing is that the monthly payments are significantly lower than financing.

The disadvantage of leasing is that you will not be building any equity value. You don't own anything.

The financial advantages and disadvantages of leasing will vary by person and circumstances.

1. If you are a person who must drive a new car every 1-3 years, then leasing may be your best financial option.
   
   
2. If you are a person who likes to replace your car every 5 years, then either leasing or financing will be your best financial option.
   
   
3. If you a person who likes to drive the same car for 7 or more years, then financing would be your best option.

Lease Information

About Auto Leases
—	For information about leases: click here
—	Find the right lease without paying dealer markup: click here
—	Compare leases for best lease: click here
Take Over or Swap Your Lease
link directly to our nBuy auto center for lease swaps and auto leasing quotes