When it comes to our cars, even the simplest mistakes can cost us big time. Before you know it, you start experiencing some remorse. Here are five of the most common car owner regrets and how you can avoid them.
Buying a Car That’s Too Expensive
You don’t want to regret the day you bought your car just because you paid more than you were supposed to. Make sure you’re not overspending on your vehicle because you think it will make you happy. A car is a significant financial investment, so be sure to do your research and find one that fits your needs and budget.
If you are currently on the market to make another car investment, do your research. Check out reviews, look for deals, and find a price that won’t leave you regretting your purchase. It helps to check the usual price range of your target car model before you make any investment.
Doing so lets you know if the price your seller is asking for is too high or if it’s a good deal. Of course, there are instances when the seller might pump up the asking price. This is especially true if they paid for in demand and expensive car upgrades.
Not Keeping Up With Regular Maintenance
Your car needs regular maintenance to keep it running smoothly and efficiently. Ignoring things like oil changes and tune-ups can lead to more significant problems down the road and ultimately, leave you with a hefty repair bill.
You can avoid this regret by staying on top of your car’s maintenance schedule. Be sure to consult your owner’s manual for specific maintenance recommendations and make an appointment with your mechanic when it’s time for service.
For instance, you suspect that your car might need a tune-up, but you’re not entirely sure. In this case, it’s best to take your vehicle to a reliable auto shop and have the professionals give it a once-over.
Failing to Budget for Unexpected Repairs
No one likes surprises, especially when it comes to their car. Unfortunately, unexpected repairs are often part of car ownership. Whether it’s a flat tire or a blown engine, these unplanned expenses can really put a dent in your budget.
The best way to avoid this regret is to plan ahead and save for unexpected repairs. Start by setting aside a few hundred dollars each month into a savings account dedicated solely to car repairs. That way, if something does go wrong, you’ll have the money on hand to fix it without breaking the bank.
Let’s say your engine starts failing. Instead of simply hiring the services of the first shop that offers diesel engine repair services, be sure to do your research. Compare rates and reviews, and your emergency car repair budget can help you cover the costs.
Not Buying The Right Insurance
Many car owners regret not having the right insurance coverage when they need it most. Whether it’s a fender bender or an accident, being underinsured can cost you big time.
To avoid this regret, make sure you’re adequately insured. Be sure to shop around and compare rates before buying a policy. And be sure to read the fine print to know exactly what’s covered.
Keep in mind that the minimum required coverage may not be enough to protect you financially if you’re involved in a serious accident. If you can’t afford comprehensive coverage, consider adding uninsured or underinsured motorist coverage. This will provide some financial protection if you’re hit by a driver who doesn’t have insurance or doesn’t have enough insurance to cover the damages.
Know that it is a different story if you use your car for your business. In this case, you’ll need commercial auto insurance to protect your vehicle in the event of an accident.
Not Keeping Track of Mileage
If you’re not careful, mileage can really add up quickly. And if you’re not keeping track of it, you could regret your car purchase down the road.
The best way to avoid this regret is to keep track of your mileage from the day you buy your car. This way, you’ll know exactly how much wear and tear your vehicle has been through over the years.
You can do this by recording your mileage in a notebook or on your computer. Include the date, time, and odometer reading each time you fill up your tank. This will give you a good idea of how much you’re driving and how quickly your car is racking up the miles.
It’s important to be aware of these five car owner regrets and take steps to avoid them. By keeping up with regular maintenance, budgeting for unexpected repairs, buying the right insurance coverage, tracking your mileage, and avoiding these common mistakes, you can better enjoy your car ownership experience.