Unfortunately, lower operational and maintenance costs are often unattainable due to the higher upfront cost of buying an electric car — until now. The new lineup of cheap electric cars makes owning an electric car an affordable car-buying option for more budgets.

2024 Nissan Leaf: Leading with Value

Nissan Leaf Price: $29,280

Key Features:

• Sleek interior
• Ample cargo and passenger space, one of the best in class
• Two battery and trim options
• Three charging options – 480V public DC, 240V home and public, or 120V in a pinch
• e-Pedal technology with regenerative braking
• Eco-mode for enhanced miles of range
• Front Wheel Drive
• Advanced safety features like automatic emergency braking with pedestrian detection, intelligent lane intervention, blind spot warnings, and front collision warnings with automatic emergency braking

Performance: The all-electric battery gives the Nissan Leaf instant torque as soon as you press the e-Pedal. The base model, the Nissan Leaf S, features 147HP, a 40.0-kWh battery pack, and a range of 149 miles. The upgraded Nissan Leaf SV Plus gets 214HP, a larger 62.0-kWh battery, and a 215-mile EPA-rated range.

Overall Value: If you’re looking for a great starter EV, the 2024 Nissan Leaf is a prime contender with its low price point. With its shorter range, it’s ideal for city driving but may not be the prime choice for long-range commutes.

2024 MINI Electric Hardtop 2-Door: Style Meets Efficiency

Since MINI first introduced the MINI Cooper in the United States, it’s been a delightfully charming and somewhat quirky addition. Now, MINI is stepping into the EV world with their all-new 2024 MINI Electric Hardtop 2-Door, featuring the unmistakable design drivers have come to know and love. This all-electric hatchback starts at an excellent base price range, making it one of the cheapest EVs, and offers a spunky and fun city driving experience.

MINI Electric Price: $31, 895

Key Features: 

• Quick acceleration, 0-60 mph in 6.1 seconds
• Two-mode regenerative braking
• Three charging options – 120V occasional use, home wall box, or the public charging at one of 50,000 charging stations
• Front-Wheel Drive
• Seats 4 adults comfortably
• Standard luxuries include heated front seats and steering wheel, dual zone climate control, rain-sensing windshield wipers, and faux-leather seating.
• Advanced safety features like forward collision warning with pedestrian detection, lane departure warnings, and the option for self-parking assist

Performance: The 2024 MINI Electric retains the distinctive styling and exciting urban driving experience and brings it into the electric world. With quick acceleration, agile handling, and 181HP, the new EV version offers an exciting driving experience. Unfortunately, the 28.6-kWh needs to be recharged every 114 miles.

Overall Value: The 2024 MINI Electric has ideal offerings for car buyers looking for an eye-catching electric vehicle with a spunky driving experience. However, with one of the shortest ranges in our lineup, planning a route with sufficient charging infrastructure is essential.

2024 Hyundai Kona Electric: Compact Power

Hyundai Kona Electric Price: $34,050

Key Features: 

• Named the Insurance Institute for Highway Safety (IIHS) 2024 Top Safety Pick+
• Two battery options – 133HP and 201HP
• Three trim options – SE, SEL, and Limited
• Front-Wheel Drive
• Ample passenger seating, Best in Class cargo space, and a small bonus space in the front trunk
• Vehicle-to-Load (V2L) connector to charge electric bikes, camping gear, etc.
• The upgraded interior includes features like a floating horizontal center pad with upgrades like a wireless smartphone charger, relaxation mode seat programming, ambient lighting, two additional V2L ports, and two 12.3inch displays
• Smart power tailgate allows you to adjust the opening speed and height to your lifestyle
• Safety features that come standard are blind-spot collision-avoidance warning, rear cross-traffic collision-avoidance assist, forward collision avoidance assist with pedestrian and cyclist detection, driver attention warning, and rear seat occupant alert, among others.

Performance: The fully electric SUV crossover delivers instant torque and perky acceleration. The redesigned Hyundai Kona Electric has two different battery options. The 48.6-kWh option has a range of approximately 200 miles. The other option with a larger battery offers a 64.8-kWh battery and up to 260 miles.

Overall Value: The improved battery and range of the 2024 model year, its commanding and rugged exterior, its upscale interior, and its advanced safety features make it a good choice for both city commuters and long-distance drivers.

2024 Fiat 500e Red: Iconic and Electrified

The previous generation Fiat 500 urban city car has been redesigned bumper-to-bumper, transforming the iconic Fiat into a fully electric vehicle (EV) while leaning into its predecessor’s lovable retro-modern appeal. The 2024 Fiat 500e is a battery-operated electric subcompact SUV, quickly becoming Fiat’s flagship electric motor car, complete with the Italian innovation we’ve come to expect. The Fiat 500e will have three different trim options, the first of which will be Inspir(Red), a red model that a part of Fiat proceeds is donated to Project Red. The next two are Inspired by Music and Inspired by Beauty, both loaded with advanced technology features and creature comforts at a higher price point.

Fiat 500e Red Price: $34,095

Key Features: 

• Slower acceleration, 0-60 MPH in 8.7 seconds
• Average range 149 miles
• Three unique trim options
• Three driving settings based on your needs
• Front-Wheel Drive
• Three charging options – Type 1 AC/DC for temporary charging, Level 2 for charging at home with a 48-amp current and 240-volt socket, or DC charging for fast public charging
• The Inspi(Red), also known as the 2024 Fiat 500e Red, enters the market at an enticing price tag, under $35,000.
• The Fiat 500e Red features a brilliant 10.3-inch infotainment system display with a touchscreen, automatic climate control, a 7-inch gauge cluster, rain-sensing windshield wipers, and a wireless smartphone charging pad.

Performance: The 2024 Fiat 500e Red allows you to tailor your energy usage based on your drive. Normal mode delivers up to 117 HP and is ideal for drivers craving the pep and responsiveness of the traditional Fiat while still driving a greener solution. Range mode allows you to save some electricity by accelerating and decelerating using one pedal. Sherpa maximizes your energy range up to a 162-mile range, but it reduces some of the Fiat’s responsiveness and shuts down some of the auxiliary systems.

Overall Value: The Fiat 500e Red is a great entry-level car at an affordable EV price. Its design revives Fiat’s signature appeal with modern upgrades both inside and out. The subcompact design is ideal for urban driving but may be too cramped for longer trips.

2024 Hyundai Ioniq 6: Stretching the Budget for Premium Features

Hyundai Ioniq 6 Price: $38,650

Key Features:

• Three attractive trim package options – SE, SEL, and Limited
• Ultra-fast charging option with 800V DC charging
• Interior and exterior vehicle-to-load (V2L) options
• Available in rear-wheel drive (RWD) and all-wheel drive (AWD)
• Awarded the Insurance Institute for Highway Safety’s (IIHS) 2024 Top Safety Pick+
• The exclusive Bluelink+ app allows car owners to schedule, start, or stop charging remotely, activate climate control features so it’s the right temperature upon entry, and even control the door locks
• Interior features include two 12.3 displays, 5 USB charging ports, digital key entry, voice recognition, and more
• Available safety features include Hyundai SmartSense with smart cruise control, surround view monitor, blind spot monitoring, parking collision avoidance assist, premium remote start parking assist, lane following assist, driver attention warning, lane keeping assist, and more.

Performance: The 2024 Hyundai Ioniq is one of the few electric motor vehicles capable of charging using the 800 V DC charging stations, taking it from 10% to 80% charge in as little as 18 minutes. It can still conveniently be charged at the traditional 400V DC Level 3 charging stations as the others and the 240 V Level 2 home charger. The 77.4-kWh battery allows the 2024 Hyundai Ioniq 6 to accelerate quickly, with impressive horsepower – the AWD brings 320 HP and the RWD 225 HP.

Overall Value: Although slightly over the $35,000 budget, the 2025 Hyundai Ioniq 6 still offers an exceptional value. With more than double the range of other competitors, additional power, and function, the 2024 stands out as a clear competitor.

Extended Warranty Considerations for Electric Vehicles

As more electric vehicle options are introduced, more cost-effective options will likely become available. Unfortunately, essential parts like EV batteries and electric drive trains still mean expensive car repair bills.

Electric Vehicle Factory Warranty

When you buy a new electric car, automakers guarantee that if the vehicle experiences mechanical failure due to an inferior part or an error during assembly, they’ll fix it at no additional cost.

Almost every new car comes with a bumper-to-bumper manufacturer’s warranty (or factory warranty) that lasts a set amount of years or mileage. Usually, they’ll protect the car for up to three years or 36,000 miles, whichever comes first, though the actual terms will vary based on your car dealership.

Additionally, new vehicles usually have a powertrain warranty that protects the vehicle’s most important components, usually up to five years or 60,000 miles.

High Voltage Battery Warranty

Some new electric vehicles also come with a unique electric vehicle battery warranty. If you’re lucky enough to have an EV manufacturer include a battery warranty with the purchase of an EV, it may be good for up to 8 years, or 100,000 miles. It’s important to read the fine print before assuming your battery is included in the warranty.

Extended Warranty for Electric Vehicles

When you’re buying an EV, it is important to know that no manufacturer’s or factory warranty lasts for the lifetime of the vehicle. While these comprehensive bumper-to-bumper warranties provide peace of mind while the vehicle is brand new, eventually, the warranty expires, and EV owners are left paying out-of-pocket for expensive car repairs. And, regardless of your vehicle’s price, EV batteries are notoriously expensive to repair.

Although parts like the EV battery or the EV drivetrain are reliable and durable by design, eventually, these parts wear down and become susceptible to failure, even with proper routine EV maintenance. An EV extended car warranty can protect against these expensive repair costs and any important technology advancements and upgraded components.

Choosing the Right Extended Warranty for Your EV

When shopping for an extended car warranty for an electric car, more accurately known as an auto protection plan or a vehicle service contract, ensure that you have the most comprehensive warranty coverage for your EV or hybrid vehicle. Both hybrid and electric vehicles have unique needs, so you’ll want to read the fine details of each extended warranty plan and warranty provider to ensure maximum coverage with minimal exclusions.

Terms of Coverage for Hybrid or Electric Components

Not all EV extended warranties are created equal. Although advanced technology has its perks, your extended car warranty should cover high-cost EV repairs, such as the battery, drivetrain, charging systems, and electrical components. Take time to read through the terms and conditions, exclusions, and limitations so there are no surprises when you need to file a claim.

Transferable Extended Car Warranties

If you think you might sell your vehicle down the road, consider how a transferable EV warranty can enhance your vehicle’s resale value. If a prospective owner is looking for a maintained EV for sale, the extended car warranty may give them peace of mind that scheduled routine maintenance has been taken care of. Additionally, it builds trust and confidence if mechanical breakdowns are covered if something should break after purchasing.

Additional Extended Warranty Benefits

Another factor to consider when comparing EV vehicle service contracts is the additional benefits. If you find two electric vehicle warranty providers with similar EV coverage options, the additional warranty perks and benefits can significantly affect the overall value.

For example, third-party providers like Endurance Warranty offer vehicle protection plans that include a suite of standard benefits, like 24/7 roadside assistance and towing, trip interruption coverage, and rental car reimbursement. Additionally, every customer can maximize savings by activating a year of Endurance Elite Benefits. For a small activation fee, you’ll get tire repairs and replacements, key fob replacements, collision discounts, and more.

Find the Best Electric Vehicle Protection Plan for You

Just because you’ve chosen to save money on gas prices by buying an EV doesn’t mean you have to pay the price when disaster strikes. An extended EV warranty can give you the best of both worlds. Save money on your electric vehicle, fuel costs, and EV repairs with the best EV vehicle service contract for your lifestyle and budget. Endurance Warranty offers coverage for hybrid vehicles and fully electric brands like Tesla.

Contact a knowledgeable Endurance plan advisor at (800) 253-8203. You can also request a FREE quote online or shop our eStore to see coverage and pricing options now!

Find more helpful automotive articles on the Endurance Warranty blog. Get answers to your frequently asked questions, learn about the compatibility of Tesla chargers, get maintenance tips for your hybrid or electric vehicle, and discover everything else you need to know about electric vehicles.

Recent data from Cox Automotive shows that new vehicle inventory has reached its highest level in two years. This abundance has led to more sales volume, which could bring back more incentives from automakers. New car sales jumped year-over-year by almost 19% in August 2023.

Cox economist Charlie Chesbrough remarked, “The supply recovery continues to improve across the country, and this is leading to the market’s sales gains this year. In addition, the return of supply is also bringing back more discounting from manufacturers.”

We’ll get into more detail about this potential good news. But let’s first review how we got here.

The Impact of COVID-19 on Car Inventories

Flashback to the first months of 2020, and the car industry was humming along with expectations for another strong year. Then, COVID-19 hit. By spring and summer, auto manufacturing plants shut down in response. New cars became scarce, which was one part of the problem.

Next, with production at a standstill, automakers canceled component orders, including critical microchips. When manufacturing resumed months later, many car companies couldn’t access these vital semiconductors. As people stayed home, the chip makers shifted to building for consumer electronic products (cell phones, computers, gaming consoles, etc.). Automakers had to wait their turn for these essential microchips, another contributor to new car shortages.

In the meantime, car buyers turned their attention to used vehicles because of the scarcity of new automobiles. Not only did second-hand cars in America become harder to find, but they were more expensive. At the start of 2020, the average used car sold for $21,436, reports CarGurus. By July 2022, the typical second-hand vehicle went for more than $31,000. Average used car prices have decreased to about $29,000 per transaction since early September 2023. But this is still 35% higher than before anyone ever gave a thought about a pandemic.

And the new cars that were available also skyrocketed in price. Kelley Blue Book (KBB) data shows that the average new car sold for $38,948 at the end of 2019. In July 2023, the same transaction added up to $48,334. This came from more than just higher MSRPs; dealers marked up the sticker prices.

The Recovery

Although automakers couldn’t address supply challenges overnight, they did eventually adapt. Focus was placed on building more expensive cars, which let the manufacturers and dealers sell fewer but more profitable products. This wasn’t ideal for anyone looking for more affordable transportation and was a key reason for the rise in new car prices.

Along the way, car companies learned to use different chips, worked with semiconductor makers more closely to overcome chip shortages, and shifted to more of a build-to-order approach. The results are vastly better than the dark days of idle factories and minimal dealer inventories.

A recent report from UBS forecasts that 2023 global car production will exceed sales by 6%. Yahoo Finance reports that that would leave a surplus of five million vehicles needing sales incentives. If this proves true, bargains could again be available to car shoppers in 2023’s closing months. We’re already seeing this evidenced by price cuts from Tesla and other electric vehicle manufacturers.

Other signs are also pointing to a return to normal. Before COVID-19, the typical car dealer had a 60-day supply of new cars to sell. This was considered a healthy level, enough to meet consumer demands without sitting on too much inventory. At the height of the crisis, the new car supply level was cut by two-thirds or more. Most recently, the typical dealer has a 56-day supply of new cars on hand. We’re getting close to the good old days.

Last year, Americans bought 13.8 million new cars, reports Cox Automotive. That’s a far cry from the 16 million annual sales the auto industry considers a good pace. Yet, things have bounced back nicely. At the end of August, new cars sold at an annualized rate of 15.4 units. Clearly, normalcy is on the horizon.

What Does This Mean for Buyers?

The vehicle market’s slow return to pre-pandemic days means two things for buyers: better selection and lower prices. “The return of supply is also bringing back more discounting from manufacturers,” remarks Cox’s Chesbrough.

Findings show that the typical new car purchase in July reflected 4.4% in incentives, almost double (2.4%) what consumers received a year earlier. That’s still a far cry from 2019, when incentives made up 10% of new car transactions. But just about any discount is an improvement.

In the near term, these changing market conditions translate into select opportunities for a better deal. In other words, don’t expect to find discounts on every car from every automaker. Buyers will need to cherry-pick from the best offerings. This approach usually involves targeting slow sellers.

For instance, search engine iSeeCars.com reports these vehicles were the slowest-selling new cars in August 2023 (accompanied by the average number of days required to sell):

• Jeep Cherokee (129 days)
• Land Rover Discovery Sport (119 days)
• Buick Envision (117 days)
• Ford Mustang (109 days)
• Mazda MX-5 Miata (107 days)
• Lincoln Aviator (105 days)
• Nissan LEAF (95 days)
• Ford Edge (93.6 days)
• Nissan Murano (88.7 days)
• Infiniti QX80 (87.2 days)

The used car market also has its share of snails. Among them are the Tesla Model S, Buick Envision, Ford Mustang Mach-E, Land Rover Discovery Sport, and Cadillac XT4.

7 Tips for Buying a Car in a Buyer’s Market

Remember these hacks for getting a good deal in today’s market:

1. Conduct Research

Doing your homework is the key to making a smart purchase (for a car or any high-ticket item). The more information you have, the better you can make an informed decision. However, don’t just look at vehicle reviews and specifications. While this is vital, you must also get a handle on market conditions. Is the car you want readily available? Are there manufacturer incentives and dealer discounts available?

2. Compare Prices

Don’t rely on pricing from a single dealer; look around. Even in a market with tight supplies, some retailers are more flexible on pricing than others. Importantly, review all the fine print, as some dealers can mask the true selling price. Often, charges like freight and dealer preparation fees don’t appear in advertisements.

3. Be Flexible

Arguably, flexibility is the most significant factor in getting a deal on a new car at the moment. This covers everything from brand and vehicle type to options and color. Greater adaptability increases your choices and your odds of saving money. SUVs are in greater demand these days. So, consider a sedan instead. Look for different automakers, as well. You may be leaning toward a Toyota or Honda, but Mazda offers compelling alternatives (and the company is partially owned by Toyota). These are just a few examples to consider.

4. Expand Your Search

Don’t limit your buying efforts to local dealers. Look for retailers in neighboring cities, adjacent states, or even nationwide. What sells well in your area may not be so popular elsewhere, creating an opportunity for discounts. Broadening your search parameters also improves selection. And don’t worry about location. Shipping a car is commonplace and not that expensive. Alternatively, a great discount can easily offset the cost of a plane ticket.

5. Inspect the Car

This matters less with new cars, but pre-owned vehicles should be carefully analyzed. Such action can help avoid repair headaches later but also open room for better pricing if you discover imperfections you can live with. Always have an independent professional mechanic inspect any used car under consideration. There are also mobile mechanic companies that can perform the same service remotely, making long-distance purchasing easier.

6. Negotiate

It never hurts to ask for a better price. The worst that can happen is that the dealer says no. Use your research to make a case for why the dealer should offer a discount. Perhaps another retailer has a better selection or lower prices.

7. Exploit Financing

Dealers make money on financing they arrange. Use this to your advantage by asking the dealer for a better price if you take out a loan through them. You might be surprised at the results. You’ll want first to get pre-approved from another source (online lenders can do this without the inquiry impacting your credit score) and be sure the dealer at least meets your best independent financing offer.

What to Expect in the Future

The crystal ball for the car market remains clouding. No one has a definitive answer for when production and demand rebalance. It’s safe to say that there will be select opportunities to find a deal on a car over the next six months or so. It just may not be the exact vehicle you want.

There’s also economic uncertainty to contend with. Rising interest rates via the Federal Reserve and the onset of a recession could cause automakers to scale back on production, causing supplies to tighten again. If these or other unforeseeable factors occur, the momentum could shift back in favor of sellers.

Endurance Offers Protection for Today and Tomorrow

Whether you’re focused on keeping the car you have or thinking about getting a new one, Endurance offers extended warranty coverage for just about every vehicle. These auto protection plans (also called vehicle service contracts) safeguard against breakdowns and unexpected repair bills.

But that’s not all that Endurance offers. Every customer gets peace of mind from 24/7 roadside assistance (with towing coverage and lockout assistance), rental car reimbursement, trip interruption reimbursement, and convenient payment options. In addition, Endurance plan holders can choose any ASE Certified mechanic or repair facility for covered repairs. Confidence also comes from a 30-day money-back guarantee — request plan cancellation during the first month of coverage to receive a typically full refund.

Discover all the advantages of an Endurance auto protection plan. Get a FREE quote online or visit our online store for instant cost and coverage details. Personalized help is a phone call away. Reach an Endurance plan advisor at (800) 253-8203.

Review the Endurance blog for expert-written articles about vehicle maintenance, DIY reports, car reviews, and more.

Car Inventory FAQs:

Are new car inventories getting better?

Yes, thanks to overcoming the chip shortage, automaker production volume is approaching normal (pre-pandemic) rates.

Will the price of cars go down in 2023?

Besides some electric vehicle (EV) makers periodically adjusting sticker prices, don’t expect lower MSRPs on most cars. Price reductions will come in the form of manufacturer incentives and dealer discounts. In addition, given greater supply, dealers are less likely to add markups to the window sticker, which will lower overall car prices.

Should I buy a car now or wait until 2024?

It’s always good advice only to buy a car when necessary. Most cars (new or used) suffer from depreciation. So, the longer you can delay making a purchase means avoiding the loss of value that comes with a new (or newer) vehicle. That said, changing market conditions could once again swing against buyers. You’ll want to pay attention to any disruptions that could limit availability and raise prices. In addition, the used-car market is still priced above normal. Waiting may lower what you pay for a second-hand vehicle.

Can I get a good deal on a new car now?

The key to buying a car now is finding a slow-selling vehicle or one with too much inventory (or both). These are the vehicles most likely to have discounts and automaker incentives. Flexibility also maximizes the potential for a better deal on a new car now.

How to Define a Budget for a Car Purchase

The first and most important step to take when considering a new vehicle that falls into the luxury category is the budget you have. Affordable luxury cars shouldn’t break the bank so long as a person is prepared well in advance with a budget that allows them to meet the financial obligation of luxury vehicle ownership. To that end, use the following four points to define your luxury vehicle budget:

Start by setting your max spend amount for a down payment.

Naturally, the first part of building a budget for a car purchase is determining how much you can afford for a down payment. Financial experts recommend a down payment of 20% of the total purchase value when making a new car purchase, and this recommendation doesn’t change when a car falls under the luxury category. However, considering the fact that the average luxury car has a sale value tens of thousands of dollars higher than a standard car, a person needs to outline the max down payment they can afford.

Factor in the ongoing monthly payments for the car.

The down payment for a car is only the beginning of the cost of that vehicle. After the maximum down payment you can afford has been worked into your budget, determine the maximum monthly payment you can also afford. To do this, add your monthly expenses and income to see if you will still comfortably be in the green after a multi-hundred dollar car payment.

Balance your total existing debt against the new potential amount.

Taking out an auto loan for even the cheapest luxury cars will significantly increase the debt on a person’s personal balance sheet. Take into account any existing debt, such as a mortgage or line of credit, to determine whether or not an auto loan will put you over the edge of affordable debt.

Don’t forget to account for the total cost of ownership.

Finally, never forget that the cost of a vehicle is not just the down payment and the ongoing monthly payments. The average yearly maintenance cost for vehicles can be hundreds to thousands of dollars on top of what you are already paying, so factor this potentially higher amount into your budget when evaluating what you can afford.

Benefits of Buying Used

While many people considering luxury SUVs or luxury sedans often believe they need to purchase a new vehicle to meet their dream, opting for a used car is extremely smart. There are a number of prominent benefits to purchasing used, with the most notable including:

• Generally, lower insurance rates, which is particularly helpful for higher-end sports cars such as Porsche
• A wider selection of potential vehicles to consider as compared to only what is on the dealership lot
• The upfront cost of purchasing the vehicle will be far lower than buying it outright off the manufacturing line

What You Need to Know About Luxury Car Depreciation

The depreciation with vehicles is notoriously known for being intense, but it’s even more so with luxury cars. In fact, the first five years of luxury vehicle ownership will see an average 40-50% drop in value from the original selling amount. This intense depreciation is why buying a used luxury car is so smart financially.

5 Tips for Settling on the Right Brand and Model

Once a person has really begun their savings journey towards getting a luxury vehicle, they can narrow down the type of car they want. The following tips can help ensure that happens:

1. Assess your current needs for a vehicle.

While the first type of luxury car that may pop into a person’s head is likely to be a sports car, they aren’t good choices for those who need more space or those with a family. In this situation, a person should consider a larger luxury car that is more of an SUV style. Alternatively, consider how you will be driving the vehicle and where you will be driving it so that you can narrow down your needs better.

2. Look up safety ratings for different brands.

Another great way to determine which brand and model of vehicle is right for you is to look up the safety ratings for the different vehicles. Check user reviews so you can read about first-hand ownership stories with that vehicle.

3. Weigh the costs of ownership for a specific brand.

As mentioned, there are more costs to owning a vehicle than just the purchase price. Consider the ongoing maintenance costs, as well as potential repair costs, that you may need to pay, which can drive your total price toward the roof. With that said, a person can mitigate some of these extra expenses by investing in an extended warranty contract.

4. Set up a test drive ahead of purchase.

All those looking to purchase a luxury vehicle should test drive the car they are considering before actually making a purchase. While a Mercedes-Benz, as an example, may look flashy from the outside, there could be specific factors that arise when driving it that you dislike.

5. Compare different vehicle models under the same brand.

While one specific model offered by a brand may not catch your eye, it’s entirely possible that you are dead set on the brand itself. In this situation, consider looking at similar models to the ones you don’t want so that you can find a great alternative.

Typical Financing Options for a Luxury Car

Financing a car purchase is extremely common, but there are two primary options to consider depending on your personal financial situation:

Direct Lending

Direct lending involves reaching out to a third-party lender to take out an auto loan. This is done by researching different lenders until you find one who offers historically good rates. You then apply for a loan and indicate that it will be used for an auto purchase. Once you have been approved for the loan, the funds will be released, and you can go shopping for the vehicle.

Dealership Financing

The more common alternative to direct lending is dealership financing, which involves taking out a loan directly from the auto dealership. The dealership structures the loan and sets it up, then they sell the loan to a financial institution that takes it over from there.

Negotiation Tips for Luxury Vehicle Prices

While car buying in the past was more of an art, and prices could be haggled, purchasing a new car from the dealership doesn’t leave much room for negotiation. However, if you are considering purchasing a sporty, luxurious car from a third party, there are a few general negotiation tips that can help adjust the price tag:

• Do research ahead of time to find a fair value for that vehicle
• Use cash as a negotiation tool by showing a willingness to pay right then and there
• Always try to negotiate on the total price rather than the monthly payments
• Make a reasonable, not insulting, offer on a vehicle
• Have a pre-purchase inspection completed, either by yourself or with the help of a professional

The Importance of a Pre-Purchase Inspection

No driver should make a purchase without inspecting the vehicle they are going to purchase with their own eyes. While dealerships will be honest with you, it’s entirely possible that the person doing the walk around on the vehicle missed something. Inspect the wheels, under the car, the outside of the car, and the interior components such as the wheel, the gadgets, and everything else inside.

Endurance Warranty to Protect Your Vehicle

Once a driver has the vehicle of their dreams, the last thing they want is to see their vehicle have a serious breakdown that results in an expensive repair cost. Mechanical breakdowns are unfortunately quite common and can occur on vehicles of all ages, which is why having the right auto protection plan in place is so important, especially when it comes to luxury vehicles.

In particular, Endurance Warranty offers customizable coverage plans that offer everything from basic to the most comprehensive. The Supreme for Highline Vehicles package is most applicable to luxury vehicles, offering the closest to manufacturer-level coverage a person can get, with parts such as high-tech components, the engine, the transmission, or other serious components all covered.

Additionally, each new Endurance contract comes with Elite Benefits, for a small activation fee, that offers bonus perks such as 24/7 roadside assistance, reimbursements for up to two tires per year due to road hazards, up to $500 in collision coverage, and more.

To experience the award-winning customer service offered by Endurance, give our dedicated team a call at (800) 253-8203 or request a FREE quote. Alternatively, take the time to explore our online store to get an instant price review so that you can shop with confidence.

Of course, it costs money to invest in an auto protection program, but having one can save you thousands of dollars in repairs (and sometimes maintenance) per year. Like any contract, however, it pays to research before you pen to paper. Whichever warranty you choose, whoever provides it, you want to be absolutely certain that you’re getting great bang for your buck.

So, how do you calculate the value of an extended car warranty? Here, we’ll go through all of the factors you need to consider so you can decide on the right contract for you.

What Is an Extended Warranty?

When a vehicle rolls off the production line, it comes with what’s generally known as a factory warranty or a manufacturer’s warranty. This is basically an automaker’s promise to repair or replace anything that fails due to manufacturer fault within a predetermined number of years or miles traveled (whichever comes first). This kind of coverage is great and as comprehensive as it gets, but once it expires, you, as the owner, are fully responsible for any future repair bills. And repair bills are rarely cheap.

Most manufacturers allow their customers to continue factory warranty coverage past the expiry date by purchasing an extended warranty. While they may sound appealing, this kind of extended warranty isn’t ideal, as they’re usually more expensive, plus you’re tied to dealerships for repairs. To make matters worse, you must purchase an extended warranty while your factory warranty is still active. Leave it just a day late, and you’re out on your own.

Because of these shortcomings, most people prefer to opt for third-party vehicle service contracts over manufacturer extended warranties. Third-party warranty companies are incentivized to offer the best possible level of coverage at the best possible price, and they often throw in plenty of additional benefits to sweeten the deal. On top of that, used car owners are eligible, and you’re free to have repairs carried out at any certified auto shop.

4 Factors to Consider

The value of an extended warranty effectively boils down to what you pay vs. what you receive. If you pay a little and receive a lot, you’re most definitely getting great value. If you pay a lot and receive a little, you probably went wrong somewhere down the line. To help you avoid the latter, let’s take a look at the key factors you should be thinking about during the purchasing process:

1. The Vehicle’s Age and Mileage

It may seem obvious, but that doesn’t stop it from being true: the older and more well-traveled a vehicle is, the higher the chances of it breaking down at any given moment. Vehicle components are put under heavy strain during use, and even if the car in question isn’t used all that much, parts still decompose over time.

If your vehicle is pretty much fresh off the production line, a warranty will still be great for peace of mind but ultimately less likely to be used. The older it is, however, the more the value of a warranty goes up. You pay a little more for your premium, but you can still save thousands in the long run.

2. The Vehicle’s Reliability and Maintenance History

Similar to age and mileage, reliability and maintenance history directly affect the value of an extended warranty. Some vehicles score surprisingly low for reliability and are much more likely to break down. Luxury cars, in particular, are some of the most unreliable, plus the resulting repairs are as costly as they get.

Poor maintenance also damages components over time, so if your car has been neglected at all (by you or a previous owner), an extended warranty would be a wise investment. Switching to a regular maintenance schedule may delay any repairs a little, but chances are that you’ll be in the auto shop before long either way.

3. The Coverage Offered by the Warranty

Plenty of coverage providers are out there, all offering slightly different plans. When you’re looking for an extended car warranty, you’ll want to look at the coverage in detail and get a feel for how comprehensive it is. You may want to cover only the most expensive components, or you may want to cover as many components as possible—whichever it is, weigh up the price with what you could potentially save.

The more components that are covered, the more you can expect to pay, but the more you should ultimately make back in savings. For example, a powertrain warranty is much cheaper than an exclusionary or bumper-to-bumper one.

4. The Potential Repair Costs

While the other factors are all important, this is the big one. When you estimate the cost of potential yearly car repairs and compare this with your warranty fee, the warranty fee should be lower. If it’s equal or higher, you’re getting a bad deal. Websites like RepairPal can really help with this.

You also need to consider the deductible that your provider expects you to pay. This is usually charged per trip to the auto shop but can sometimes be charged per repair. If it’s per repair, those additional costs can really rack up, so run the numbers for a few different repair scenarios to get a feel for how things might play out financially.

Research and Comparison

Another crucial part of the warranty purchasing process is to research your options and compare them. It’s the only real way to be sure you’re getting good coverage at a good price.

Researching Different Warranty Options

There are so many extended warranty companies and plans that it can initially feel a little overwhelming. When it comes to providers, most do some things better than others, and a select few should be outright avoided. A quick Google search is usually a good place to start, but it’s also recommended to take a look at relevant publications like Motor1. They know their stuff about auto warranties and can point you in the right direction.

Once you have a few contenders that you’re interested in, look at them side by side. How comprehensive is their coverage in reality? How do their prices compare? What kind of additional perks do they offer? It’s really worth taking your time with this stage so you can be certain you’re going for the best.

Considering Deductibles and Exclusions

We’ve stated before: go through any contracts with a fine-tooth comb. Less reputable providers will often hide deductibles and exclusions in small print in the hope that they’ll go unnoticed, and you really don’t want to get stung by them later down the line.

It’s incredibly important that you know exactly what your warranty covers, which means understanding what it doesn’t cover too. Even the most comprehensive plans will have some exclusions, so get familiar with the list and ensure you’re happy with it. Likewise, if your deductible is so high that it almost negates any savings, it’s not a contract you should be taking out.

Evaluating the Reputation of Warranty Providers

One of the final hurdles is making sure you’re in good hands. A contract may look like a fantastic deal on paper, but it isn’t worth a penny if your provider doesn’t come through in the event of a breakdown. Motoring publications are a great source of professional reviews, but nothing beats a customer’s opinion. Check out review sites like Trustpilot and try to get a feel for what other people are thinking. Remember that most customers only leave reviews when they’ve had a bad experience, so don’t just go off the star ratings—read through a handful too.

The Better Business Bureau is also a useful resource. A warranty provider that has applied for BBB accreditation is usually more established and should, in theory, be more reliable. Customers can also file grievances about businesses via the BBB website, so you can see the most common issues with each provider you’re considering.

Making an Informed Decision

No one wants to sign up for a service that isn’t worth the money, so research as much as possible before you make any decisions. Only when you have all of the relevant information can you be certain your top choice offers the best value. The ideal extended warranty will:

• Cover all of the components that are important to you
• Cost less than the most expensive potential repairs
• Have a deductible that doesn’t negate potential savings
• Come from a reputable and reliable provider

If you find something that ticks all these boxes after considering your options, you’re probably good to go.

Comprehensive Coverage from America’s Most Trusted Provider

It’s no use investing in an extended warranty if you can’t rely on your provider when the worst happens. At Endurance, we know how much great service matters to anyone dealing with a breakdown, so we always go the extra mile to ensure you’re looked after. It’s why we’re consistently rated one of America’s very best vehicle service contract providers, and if that wasn’t enough, our customer service team has won plenty of awards too.

We offer a wide range of fully flexible plans, catering to everyone from rideshare drivers to luxury car owners. And if our base plans aren’t exactly what you’re looking for, we’ll be more than happy to tailor a bespoke program to suit your specific needs and budget. Better yet, we also add some of the best benefits in the business. Every Endurance plan includes 24/7 roadside assistance, replacement travel reimbursement, and trip interruption costs. Plus (for a $29 activation fee), all new Endurance customers also get a year’s free access to our Elite perks package, which opens up tire repair/replacement, key fob replacement, total loss protection, and more.

If you’d like to find out what we can do for you and your vehicle, call (800) 253-8203 to request a FREE quote. Or, if you’d like to do a little more reading first, you can check out the rest of the articles on our extended car warranty blog.

Of course, if you buy a new vehicle, you’re protected by the bumper-to-bumper warranty from the car manufacturer. But, unfortunately, once that warranty expires, car owners are left to pay out-of-pocket for unexpected costly vehicle repairs.

Whether you buy a new or pre-owned vehicle, repairing a car can quickly get expensive. Today, many people living paycheck to paycheck cannot afford to pay for surprise expenses. Fortunately, an extended vehicle warranty is an excellent investment that can help you save money.

How Can an Extended Car Warranty Save You Money?

An extended auto warranty is a vehicle service contract (VSC) between a car owner and the provider. The agreement state that the car owner pays a low monthly fee and any potential deductibles and fees. In return, the provider will pay for all included vehicle repairs.

An extended car warranty isn’t right for every driver. If you have a new vehicle, you’re already protected by the manufacturer’s factory warranty. An extended warranty isn’t necessary if you plan to sell your vehicle before the original warranty expires. This coverage extends beyond the manufacturer’s bumper-to-bumper warranty and often has exclusions and restrictions. However, if you plan to keep your vehicle, investing in an extended car warranty can save hundreds, even thousands of dollars on unexpected car repairs.

An extended car warranty offers financial coverage for many automotive repairs and services. These include engine, transmission, electrical, and other mechanical repairs. A car protection plan can extend the life of your vehicle. It can also protect you from costly repair bills, giving you financial peace of mind. Rest easy knowing you have coverage if something goes wrong with your car.

How Much Can an Extended Warranty Save?

An extended auto warranty can save you money in the long run. Depending on your car’s coverage and make and model, an extended warranty can cover anything from powertrain components to interior features. Reading your vehicle service contract to see what your extended car warranty covers is important so you don’t get surprised at the auto repair shop.

The cost of car repairs ranges widely, from minor adjustments, such as replacing a gas cap, to significant repairs. Certain repair jobs can be more expensive than others. Even the most reliable and long-lasting vehicles, like Honda, can require a pricey fix, such as an engine repair or a clutch assembly replacement. Regardless of age or model, expensive car repairs are inevitable and happen to everyone.

Let’s take a look at some common car repair costs that extended car warranties can cover:

Replacing an O2 Sensor

The oxygen sensor in a car helps the vehicle’s computer keep track of unburnt oxygen in the exhaust. This information optimized the air-to-fuel ratio for higher performance. Generally, it’s necessary to switch out the sensor every 50,000 miles.

Neglecting to address an oxygen sensor issue can be potentially hazardous to your car and will likely result in an extra expensive repair bill. In addition, failing to address the problem early on could mean replacing the catalytic converter, which can cost anywhere from $500 to $2,000.

According to our partners at RepairPal, replacing an oxygen sensor can range anywhere from $346 to $395.

Alternator Replacement

The alternator is a generator that supplies the necessary electricity to a car and replenishes the battery. Ultimately, an alternator is required to produce the right energy for a car to run.

A car can operate for a brief period with a bad alternator. However, the vehicle will not start again once the alternator fails and the battery drains, rendering it useless.

RepairPal estimates that replacing an alternator costs anywhere from $608 to $790.

Replacing the Transmission

The transmission is an essential part of your car. It changes gears and ensures your vehicle runs properly, whether you’re speeding up or slowing down. However, your transmission may be in danger if you’re experiencing gears slipping, rough shifting, or delayed movement. Once the transmission fails, it will be necessary to replace it.

The estimated cost of replacing a transmission on a car is between $4,967 and $5,167, according to RepairPal.

How to Save Money on an Extended Vehicle Warranty

Multiple third-party providers offer various vehicle coverage options to fit different lifestyles, driving styles, and budgets. It is tempting to buy a cheap extended car warranty. However, cheaper isn’t always better. Sadly, the wrong auto protection plan can leave drivers without the protection they need in an emergency.

Things like the make, mileage, and age of a car can influence the cost of an extended car warranty. However, there are ways to get the best value and save money when buying an extended car warranty.

1. Buy Early

Delaying the purchase of an extended warranty for your car is not recommended. Waiting until the manufacturer’s coverage has run out before finding extended vehicle coverage can be costly. Instead, look for the most suitable coverage plans and prices for your car towards the end of the original warranty period.

2. Explore Different Vehicle Protection Plans

Before signing a car service agreement:

• Research and compare extended vehicle contracts.
• Consider the level of protection and fees available for your car’s make and model.
• Explore the different levels of coverage between a powertrain warranty and a comprehensive warranty and all the vehicle coverage options in between.

Understanding the differences between plans will help you decide which is best for you based on your budget and needs.

3. Read the Fine Print

When shopping for an auto warranty, it is important to understand the coverage details and ask questions to make an informed decision. Also, consider factors like transferability, roadside assistance, cancellation terms, and repair reimbursement.

Every warranty provider offers different levels of extended warranty coverage. While the right warranty can help you save money, some auto contracts have restrictions, limitations, deductibles, and fees hidden in the fine print. Read the service agreement before signing to avoid being taken advantage of and to save time and money.

4. Take Advantage of Multi-Car Discounts

Some warranty providers offer discounts for customers who own more than one vehicle. These multi-car discounts may include reduced rates for each additional vehicle or a discounted plan covering all your cars. Explore discounts each provider offers and learn how to take advantage of them.

5. Drive With Caution

Careful driving keeps you safer and keeps your vehicle running smoother and longer. Avoiding reckless driving, such as sudden stops and rapid acceleration, can help you extend the life of your car and avoid expensive repair bills. It’s also a good idea to follow the manufacturer’s service schedule and have routine maintenance performed. Keeping up with regular oil changes and other services can help extend the life of your vehicle and help you avoid expensive repairs.

6. Consider Exclusionary Warranties

Exclusionary warranties are often better when it comes to extended warranties. Rather than listing all the items they cover, they only include a short list of exclusions. This setup provides more extensive coverage than inclusionary warranties. As a result, exclusionary contracts often get the most value for the cost.

7. Ask for Other Discounts

Feel free to ask for discounts when negotiating your vehicle service contract. Many service providers are willing to negotiate the price of a service contract. Be sure to inquire about any discounts or special offers that may be available.

Some service providers may offer discounts for bundling services or signing a long-term contract. Again, researching and asking questions can help you get the best value for your money.

Buy from a Reputable Extended Warranty Provider

Third-party extended warranty providers, such as Endurance Warranty, offer comprehensive coverage. This coverage is similar to an automaker’s or dealer’s coverage. However, it does not have some of the major drawbacks of those options. For example, with Endurance, you can take your car to any ASE Certified mechanic or repair shop, including the dealership.

Third-party warranties provide similar or better coverage than a dealer or automaker and can be purchased anytime. Endurance auto protection contracts offer additional benefits. These include 24/7 roadside assistance, rental car reimbursement, and trip interruption coverage. No matter your chosen plan, you’re protected by a risk-free, 30-day money-back guarantee if you decide to cancel your warranty.

Every Endurance customer can boost their savings by activating a year of FREE Elite Benefits. For just $20, you can activate additional protection benefits. These include key fob replacement, tire repairs and replacements, and more.

Get a Custom Auto Protection Plan Quote

When it comes to your vehicle, you want the best protection possible. That’s where Endurance comes in. Our extended warranty plans offer unbeatable coverage for your car, truck, or SUV, giving you peace of mind on the road.

With customizable plans and industry-leading customer service, Endurance makes it easy to get the protection you need at a price you can afford. Don’t take chances with your vehicle’s future – call (800) 253-8203 to get more information, or shop online today. Your vehicle will thank you!

For a short time, it seemed as if prices were finally starting to stabilize at their high level. However, recent news in the industry regarding prices and federal reserve interest rate announcements have caused consumers to wonder if prices will be back on the rise. Stay current on the industry’s recent news to identify when the best time to buy will occur.

Recent News on Used and New Car Prices

For those who have been holding out hope that the price for American used and new vehicles is falling, you will be disappointed. Recent data indicates that prices for used cars, on average, have risen above $40,000, which is close to all-time highs. The price for new cars has not risen as rapidly as new cars, but the average price for a new vehicle is still hovering around $10,000 higher than used cars at $50,000, according to Kelley Blue Book (KBB).

The primary driver behind the increase in used car prices, but stabilization in higher new car prices, is due to inflation. When new car prices began to rise and inflation started to increase, consumer demand for used vehicles due to their (at the time) lower price increased. This resulted in subsequent price increases for used vehicles that are still continuing.

When Will Used Car Prices Drop?

The federal reserve has been making an active effort to reduce the higher prices automakers such as Honda, Tesla, Subaru, and other car dealers are charging, but it is a slow process. While the supply chain shortage that caused the original increase in vehicle prices during the pandemic has been relatively stabilized, the federal reserve has been trying to target the increased demand in the used car sales market.

This effort involves aggressive interest rate hikes that make borrowing more expensive for consumers and businesses alike in an effort to reduce demand. Once demand falls, prices should begin to stabilize in the used car market. However, the effects of the federal reserve rate hikes will not be seen for a number of months. Therefore, it’s not likely that used car prices will significantly drop until the end of 2023 or early 2024.

Used Car Coverage with Endurance

When purchasing a used car, it’s more than likely that dealerships won’t provide an automaker warranty with the purchase. As a result, your used vehicle will be left unprotected from potential breakdowns that may occur. Adding an extended warranty package to your used vehicle from Endurance can save you both time and money. There are three main packages to choose from depending on your used vehicle, or you can also customize your own coverage online.

1. Secure Plus

Designed to offer affordable protection that any driver can make use of, the Secure Plus package offers stated protection for older vehicles. With the most vital components of your vehicle being protected, you can rest easier. Additionally, there is added protection for components beyond the engine. The parts covered under this plan include:

• Air conditioning system
• Brakes
• Drive axle
• Electrical components
• Engine
• Hybrid coverage
• Steering
• Transfer case
• Transmission
• Turbo/Supercharger

2. Superior

For those who are looking for protection that goes a little further, the Superior plan by Endurance offers high-level state component coverage. This particular package includes coverage for electronics, including the option to add on high-tech protection. In addition to all of the coverage the Secure Plus package offers, the Superior plan also offers coverage for:

• Cooling system
• Suspension
• Fuel system

3. Supreme

Finally, the Supreme plan offered by Endurance offers exclusionary coverage that provides a plan holder with near bumper-to-bumper coverage. With almost every part under the hood covered, this package includes parts as small and intricate as gaskets and seals. Being compared to Titanium and Diamond packages on the market, this plan can cover nearly anything that may break down under the hood.

As you consider the different types of extended warranty packages above, think about the needs of your used vehicle. Consider the number of miles on your vehicle, along with factors such as the age of your vehicle, to determine how likely a breakdown is and the extent of protection your vehicle needs.

When it comes to keeping yourself and your vehicle safe on the road, it’s important to consider how you drive on a daily basis and your vehicle’s history.

Protect Your Vehicle with Endurance Auto Warranty

Whether you choose to purchase your used vehicle now or you decide to wait a couple of months (or next year) to see if prices begin to fall, it’s important to ensure your new purchase is protected, especially if you pay a price that meets record highs. The best way to ensure this is to add a comprehensive extended warranty plan to your vehicle that offers component protection and maintenance coverage.

Endurance has paid $287 million in customer claims since 2012, which means by using one of our extended warranty plans, you know you can have peace of mind out on the road regarding breakdown protection. Additionally, for a small activation fee, each Endurance contract comes with Elite Benefits that offer bonus perks, including reimbursements for up to two tires per year due to road hazards, key fob replacement, total loss protection up to $1,000, and much more.

To find out more about how Endurance can help protect you and your vehicle, call our award-winning customer service team at (800) 253-8203 and request a FREE quote, or shop online today.

You can also continue reading up on the latest automotive news; car, truck, and SUV comparisons; electric vehicle reviews; and more on the Endurance blog.

One common expense that causes a large amount of stress is a car payment. Making large monthly payments can quickly add up and reduce the amount of discretionary income you have. Learning how to lower your car payment should be a top priority as the cost of living increases.

How to Lower Your Car Payment

While most people view their monthly car payment as the sole expense going toward their vehicle, the reality is much more expensive. Ongoing costs, such as maintenance or repairs, factor into total payments for your car. Whether you’re looking to reduce the price of a vehicle you’re interested in or simply curious about finding a way to reduce your existing payments, there are several beneficial tips to consider:

1. Choose a reliable vehicle to purchase.

The upfront cost you pay for a vehicle is not equivalent to the total cost for that vehicle. Over time, parts will deteriorate on a car and require replacement. These repairs can be costly depending on what needs to be fixed. You can reduce the ongoing maintenance and repair costs by choosing a more reliable vehicle, whether a new car or used car.

As Kelly Blue Book reports, there are seven primary factors involved in the five-year cost to own a vehicle.

While you can’t control accidents on the road, purchasing a reliable and safe car can still help to ensure minimal damage in the event of one. This will allow the overall cost of your vehicle to be lower while also ensuring you don’t end up in a troubling financial situation, unable to pay major repair bills.

2. Sell or trade in your old vehicle.

Cashing in on your old car can help you save money when shopping for a new or used vehicle. By trading in your old vehicle to a dealership, the value of the car can be automatically applied to your loan in most cases, helping to reduce loan payments or the total loan balance. Given the high price of auto loan payments resulting from increased vehicle prices due to the ongoing chip shortage, trading in your vehicle can help offset the cost.

Many dealerships often offer trade-in deals, but for those that don’t, selling your vehicle can provide you with funds that can be used to reduce your out-of-pocket down payment. Alternatively, you could set the money aside and use it solely to fund your monthly car payment to delay the time until you need to pay out-of-pocket.

3. Shop around for the best financing offer.

Finding a lower rate when looking for a vehicle requires a little shopping, as opposed to settling on the first loan you’re approved for. While working directly with dealerships is undoubtedly one of the more common methods for financing a vehicle purchase, credit unions and banks are other financing options.

Depending on your credit history and credit score, alternative financing options may provide you with a lower interest rate, lower car payment, or a more favorable life of the loan.

4. Refinance your car loan.

For an existing loan, an auto loan refinance opportunity can sometimes result in better or cheaper loan terms. However, the likelihood of receiving a better rate or lower monthly payments on the loan amount depends on several factors. You may qualify for a lower rate if your credit score has improved. Or, if you are an existing borrower refinancing a loan with minimal time left, it may allow you to save money.

Be aware that refinancing a car loan with a longer maturity date can result in you paying more in interest over time. If you have bad credit, your car loan payment or interest rate may stay the same.

5. Make a larger down payment.

Assuming you are in the financial position to do so, making a sizeable down payment will reduce your loan value, thus reducing your monthly payments. Suppose you have extra cash on hand or can hold off on purchasing a vehicle for a number of months until you save up a larger down payment. In that case, it can reduce how much you pay back, including interest, over the life of the loan.

6. Speak with your lender about your current payment.

Finding yourself in a tricky financial situation can create stress in anybody’s life. If you are unable to continue to meet payments at the same frequency or amount, speaking with your lender and updating them on your financial situation can help. While it’s not a guarantee, some lenders may be willing to temporarily defer loan payments or something similar to offer slight relief.

7. Find the best auto coverage.

Finally, as alluded to before, reducing ongoing costs is one of the best ways to lower total payments toward your vehicle over its life. Comprehensive auto protection via factory warranty or extended warranty is the best way to receive coverage for future maintenance or repair costs.

Car repair is unavoidable as a vehicle begins to age, but an extended warranty plan can cover those costs and save you large amounts of money out-of-pocket. With plans starting as low as $79/month, Endurance can help by offering powertrain protection with our Secure Plus auto protection plan. Secure Plus is our most competitive and affordable protection, ideal for any driver.

Protect Your Vehicle with Endurance

Everyone is looking for ways to save money as the cost of living continues to rise. The best way to make a noticeable difference is to take a look at the most significant expenses in your monthly budget. By using some of the above tips, you can reduce the monthly cost and ongoing costs of your vehicle. And, with the right auto protection, you can take even greater steps in saving more money on these costs.

Endurance auto protection can help you save money on costly repairs or breakdowns. Additionally, each plan comes with a year of FREE Elite Benefits, including 24/7 roadside assistance, key fob replacement, up to $1,000 in total loss protection, up to $500 in collision discounts, and more. A small activation fee applies. To find out how a vehicle protection plan can help cover your breakdown, call (800) 253-8203 to request a free quote or shop online today.

Car Maintenance Repairs

A well-running vehicle takes intentional effort and following a routine maintenance schedule. Eventually, your vehicle will need repair, which makes planning for the repair a necessity. Before setting a budget, you’ll need to know your vehicle’s average car maintenance costs.

Here are a few regular maintenance services to consider. However, your vehicle’s specific maintenance schedule may vary slightly. Follow the maintenance schedule that is in your vehicle’s owner’s manual:

Weekly Car Maintenance

Weekly car maintenance and operating costs depend on lifestyle, vehicle make and model, usage, and more. However, in general, most people need to fill up with fuel, whether it’s petroleum gas, diesel, biodiesel, or electricity. In addition to fuel costs, you’ll want to consider the cost of keeping your car clean. Getting regular car washes at a shop or home can help improve safety and boost your car’s resale value. It also protects the paint and prevents rusting.

Weekly Car Maintenance Checklist

• Fill up with gas or recharge the battery
• Clean the windshield
• Wash the car

Monthly Car Maintenance

There are predictable car ownership costs each month, including the monthly car finance charges (your car payment), insurance, and any applicable parking and toll costs. In addition to paying for everything on time, performing your vehicle checkup at least once a month is a good habit of getting into. A routine checkup allows you to catch a minor repair before it becomes something much more significant.

Monthly Car Maintenance Checklist

• Check fluids (oil, brake, coolant/antifreeze, windshield washer fluid)
• Check tire pressure and tread
• Check lights (headlights, turn signals, parking brake lights, and parking lights)

3-Month/ 3,000-5,000 Mile Car Maintenance

Quarterly vehicle maintenance is due every three months to keep your vehicle running at its best. A monthly check can detect car issues such as oil leaks, but more thorough maintenance is needed after three months.

Quarterly Car Maintenance Checklist

• Change engine oil and filter
• Test the battery
• Check fluids (automatic transmission, power steering, transfer case, and differential fluid)
• Inspect belts and hoses
• Change engine air filter

6-Month/ 6,000 Mile Car Maintenance

Every six months requires more advanced maintenance for your vehicle. By this point, your car has endured significant wear and tear and requires attention to keep it free from malfunctions or breakdowns.

Bi-Annual Car Maintenance Checklist

• Tire rotation
• Check suspension components and joints
• Replace the cabin air filter
• Chassis lubrication
• Check engine coolant levels
• Check windshield wiper blades
• Replace spark plug wires

12-Month/ 12,000-15,000 Mile Car Maintenance

Annual expenses such as vehicle registration fees, property taxes, and state inspections (if required) can be expected each year. However, in addition to these annual fees, more extensive, routine maintenance is essential to your vehicle’s life.

Annual Car Maintenance Checklist

• Check brakes and wheel bearings
• Check the air conditioning system
• Inspect steering and suspension
• Inspect spark plugs
• Wheel alignment
• Check timing belts and chains
• Inspect the exhaust system for rust, holes, or excess wear

Long-Term Car Maintenance

While plenty of minor maintenance needs to occur more frequently, there is more considerable, routine maintenance that is essential to your vehicle’s life. These larger tasks require more time and effort that should be done less frequently. Doing these larger maintenance tasks every 60,000 to 120,000 miles will help ensure your vehicle runs smoothly and safely for many years.

Long-Term Car Maintenance Checklist

• Powertrain
• Suspension
• Engine
• Exhaust
• Electronics
• Brake System

How to Budget for Car Maintenance

Today, one-third of car owners cannot afford unexpected car repairs. While maintenance costs upfront, it often defers or eliminates the need for expensive car repairs, ultimately saving money. Knowing that car maintenance is required to keep a car running smoothly, maintenance costs don’t have to become an emergency. Car maintenance can become routine without breaking the bank with proper planning and budgeting.

Build an Emergency Fund

Building an emergency fund is essential to preparing for whatever happens on the road ahead. Expensive car repairs can happen anytime, seemingly at the worst moment. Most experts recommend setting aside $50 to $100 each month to help cover the cost of expensive engine repairs. Setting a designated amount aside each month is like paying yourself, giving yourself peace of mind that your vehicle is protected no matter what happens.

Create a Car Maintenance Fund

The car maintenance fund is a separate savings account used to cover the ongoing costs of maintaining a car, such as oil changes, tire rotations, brakes, and other regular maintenance items. This fund is not to be confused with an emergency fund, which is a savings fund used to cover the unforeseen costs of an unexpected mechanical breakdown or an expensive engine repair. Both are important, as regular car maintenance can help keep a car running efficiently, and an emergency fund can help cover any sudden and significant expenses that may arise.

There are two different ways to calculate how much you should set aside each month:

• Set aside $50 each month, according to AAA
• Calculate last year’s expenses, then divide it by 12 to estimate a monthly budget

Invest in an Auto Protection Plan

Car maintenance and repairs can be a costly and time-consuming endeavor. With a vehicle protection plan or vehicle service contract (VSC), you can have the assurance that any major repairs, as well as some routine maintenance services, are taken care of. One convenient, fixed monthly payment makes it easier to stick to a car maintenance budget.

VSCs provide comprehensive coverage for your car, ranging from engine and transmission repairs to electrical and air conditioning systems. They may also include coverage for regular oil changes, brake and suspension maintenance, and more. Having a VSC can give you the confidence to keep your car running smoothly and reliably for years.

Tips for Saving on Car Maintenance Costs

Although car maintenance and repairs can be costly, there are several ways to save money on how much you pay for these services. One way to save is to perform regular maintenance on your vehicle. This includes oil changes, tire rotations, and other routine maintenance tasks. Additionally, it’s vital to be proactive about preventive care by regularly changing fluids, rotating tires, and replacing filters when necessary. This can help you avoid costly repairs and maintain the value of your car over time.

Performing some of the maintenance and repairs yourself with the proper knowledge and tools can save you a significant amount of money and help you become more knowledgeable about the inner workings of your vehicle. If you need more time to tackle maintenance, you can also save money by finding a reputable mechanic who charges reasonable rates and discounts on labor. Research your local repair shops to see if you can find any deals or discounts.

Another way to save money is to use quality parts from reliable suppliers. Although purchasing generic or aftermarket car parts can be cheaper than buying the manufacturer’s parts. They often will only last for a short time as more durable and reliable parts, resulting in more frequent repairs and higher costs in the long run.

Consider an auto protection plan that offers discounts or complete coverage for parts and labor costs in the event of a mechanical breakdown. If you have a new car, you may be covered by a factory or extended warranty. Additionally, you can get extra coverage and benefits from Endurance Warranty or other third-party providers if you have a used vehicle.

Finally, you can save money by shopping for the best deals on parts and services and by taking advantage of coupons and discounts. With some planning, you can save significant money on car maintenance and repairs.

Endurance Warranty Can Help You Budget for Car Maintenance

The cost of car ownership is more than just a monthly car payment. It includes regular car maintenance and repairs, such as oil changes, tire rotations, and brake pad replacements. These costs can add up quickly over time, so it’s essential to budget and ensure you have the funds available when the time comes. Consider getting an extended car warranty to help cover the cost of any unexpected repairs. Endurance Warranty provides protection from expensive car repairs by covering a variety of parts.

Endurance offers a range of auto protection plans to suit your needs and budget, with flexible payment plans, so you can rest assured that you’ll be covered for any unexpected repairs. In addition, each coverage plan comes with a suite of additional benefits such as roadside assistance, rental car reimbursement, and more. Endurance customers can save even more by activating a free year of bonus perks with Endurance Elite Benefits. For a low activation fee of just $20, you’ll enjoy additional benefits, like tire replacements or repairs, key fob replacements, collision discounts, and more.

With Endurance Warranty, you can enjoy peace of mind knowing that you will have the protection you need in the event of an expensive car repair. Even if you have a luxury vehicle or one with high mileage, an older vehicle, one with a salvage or rebuilt title, a Canadian grey market vehicle, or a hybrid, you can find coverage. Then, when it’s time to use your benefits, your car can be repaired by any ASE Certified mechanic, repair shop, or dealership you prefer, ensuring you get the most qualified technicians working on your repairs.

Prepare for an emergency before it occurs – and before you’re stuck on the side of the road facing an expensive car repair. Call (800) 253-8203 to request a FREE quote or shop online to find the auto protection plan that is right for you.

You can also visit the Endurance blog for answers to your frequently asked questions about how much to budget for car maintenance, including how much is car maintenance per month, the average cost of car repairs in the United States, and vehicle comparisons (like if a Range Rover is more expensive to maintain than a Nissan).

Let’s explore the average car maintenance costs to more accurately determine how much you can genuinely afford.

The Importance of Routine Car Maintenance

Although it is tempting to procrastinate on routine car maintenance to save on vehicle expenses, delaying or ignoring maintenance can cost you more in the long run in expensive car repair costs. Following your recommended vehicle maintenance schedule can help you catch a small problem, such as an oil leak or brake pad replacement before it becomes an expensive engine repair or wheel replacement. Not only can maintenance save money in car repair costs, but it can also save money on fuel costs, keep your car running smoother and longer, and ultimately, keep you safe on the road.

Average Car Maintenance Costs

Auto maintenance is necessary for both new vehicles and used cars to protect your investment. The average cost of vehicle upkeep varies on a wide variety of factors. These include vehicle make, model, age, mileage, whether you do repairs yourself, and if your car dealership, extended warranty, or auto protection plan covers vehicle maintenance. Regular maintenance includes oil and filter changes, windshield wipers, alignment checks, tire rotations, and battery replacements.

Besides consulting your owner’s manual, here are a few common items and average car maintenance costs per year to consider:

Oil and Filter Changes

Your vehicle operates with several complicated systems with intricate components that can move quickly for long periods. Traditional vehicles require oil to keep these moving parts lubricated, reducing heat, friction, and excessive wear and tear. Vehicles can consume a lot of oil, gathering dirt, metal shavings, and other particles.

An oil filter reduces the bulk of contaminants entering your car engine. However, oil filters can clog over time. Once your filter accumulates too much debris, excess pressure opens a bypass valve, allowing particles into the engine, and putting extra strain on your vehicle.

• Frequency: Oil should be changed every 3,000 miles for older vehicles and every 6,000-7,500 miles for newer cars.
• Oil Change Cost:  $137 – $152
• Estimated Annual Repair Cost: $274 – $608

Wiper Blade Replacement

Although they don’t seem very impressive at first glance, your windshield wipers have a big job to do when you’re in an unexpected downpour or the truck in front of you sprays mud across the front of your car, covering your windshield. Your windshield wipers keep your windshield clean of buildup, moisture, snow, debris, and more. Exposure to the elements, age, and normal wear and tear eventually cause windshield wiper blades to become ineffective, rip, or even fall off the blade arm altogether. Streaks or film left on the windshield after wiper use indicate it is time to replace the blades. However, routine maintenance can spot potential problems before your blades fail, putting you and your passengers at risk.

• Frequency: Windshield wiper blades must be replaced minimally once or twice a year or every six to twelve months. However, if your wiper blades get frequent use, you may need to replace them sooner.
• Wiper Blade Cost: $58 – $83
• Estimated Annual Repair Cost: $116 – $249

Wheel Alignment

Part of your basic car maintenance cost budgeting should include wheel alignment services. Although it isn’t a car expense every month, misaligned wheels can reduce fuel efficiency, cause tires to wear out quicker, and impact overall driving performance. Hitting a bump or driving off-road can cause a vehicle’s wheels to become misaligned. However, misalignment also happens over time with daily driving. Having your tire and wheel alignment checked and adjusted can keep your vehicle driving safely and efficiently.

• Frequency: Wheel alignment should be done as a part of your routine car maintenance at a schedule of every 6,000 miles or minimally once per year.
• Wheel Alignment Cost: $140 – $176
• Estimated Annual Repair Cost: $140 – $352

Tire Rotation

Your tires are essential parts of your vehicle, so keeping them operating at their best is vital. In addition to checking the tread depth and air pressure, it is crucial to rotate your tires regularly. Each tire on your vehicle plays a different role. For instance, front-wheel drive vehicles rely on the front tires to drive the car, resulting in faster wear. By changing out the positioning of all four of your tires with routine tire rotations, your tire tread will wear more evenly, extending the life of your tires and promoting a smoother and quieter driving experience.

• Frequency: Tires should be rotated every 5,000 to 7,500 miles or every six months to a year.
• Tire Rotation Cost: $35 – $45
• Estimated Annual Repair Cost: $35 – $90

Battery Replacement

A dead car battery is one of the most common calls for roadside assistance. Without a running battery, your vehicle won’t drive. Unfortunately, your car battery can wear out over time, from old age to too many short trips that don’t give it enough time to recharge, leaving electrical connections running or extreme weather conditions. In addition, the components inside your battery can become less effective over time, taking longer to start. Ignoring the symptoms of an old or worn car battery can be inconvenient, cause other systems within your vehicle to malfunction, and put extra strain on your car starter and alternator.

• Frequency: Car batteries need replacing every four to five years.
• Replacement Cost: $345 – $355
• Estimated Annual Repair Cost: N/A

Planning for Unexpected Auto Repairs

Routine car maintenance may increase the price you pay in car expenses per month or per year. However, car maintenance costs are often cheaper than car repair prices. However, even following a recommended maintenance schedule, parts wear out, and car accidents or mechanical breakdowns can happen anytime.

Therefore, part of car ownership is planning and budgeting for car maintenance and expensive vehicle repair costs when it becomes necessary. However, studies show that 1 in 3 drivers cannot afford the cost of unexpected car repair bills. Fortunately, car insurance and car warranty programs can reduce costs in emergencies.

Car Insurance

Auto insurance protects your budget against the unexpected costs associated with car accidents. Although car insurance is required in nearly every state, it is helpful to customize a contract that suits your driving style and needs. Car insurance companies cover expenses from car accidents, such as repairs, medical bills, and lost wages. However, most car insurance plans and insurance premiums do not cover repairing mechanical breakdowns due to normal usage.

Car Warranty

A car warranty is different from car insurance. Rather than covering costs related to a car accident, a car warranty protects you from the financial burden of car repairs related to breakdowns. Factory warranties protect new cars, meaning the auto manufacturer guarantees their vehicles, bumper-to-bumper, against mechanical failures for the first three years or 36,000 miles. After the factory warranty ends, many dealerships offer limited extended warranties for used cars, although rarely as comprehensive or inclusive as the original factory warranty.

If your factory warranty has expired, you are not eligible for an extended car warranty, or you are looking for alternative solutions, third-party auto protection plans are available from providers such as Endurance Warranty, CARCHEX, Olive, and more. Although not an extended car warranty by definition, since only a manufacturer can extend the factory warranty, these providers offer impressive, comprehensive coverage with additional benefits not provided by dealerships. An auto protection plan can help drivers avoid costly car repair bills with customizable and flexible monthly payment plans. Some providers even offer vehicle service contracts (VSC), including routine vehicle maintenance coverage solutions.

Endurance Warranty Can Save on Car Repair Costs

Whether you own a Kia, Toyota, Chevrolet, or BMW, routine car maintenance and repairs are essential to car ownership and can directly impact how much a car costs. To avoid breaking the budget, these true costs should be considered when buying a new or used car. While it is difficult to plan for the unexpected, breakdowns do happen, and typically when we are least expecting them. Endurance can help protect you when it does.

Endurance Warranty offers a wide variety of customizable vehicle protection plans to fit different lifestyles and needs, including coverage plans for many vehicle types excluded from dealership-extended car warranties. Coverage options are available for any type of car, including luxury vehicles, hybrid vehicles, high mileage and older cars, vehicles with salvage or rebuilt titles, and even vehicles used for commercial purposes, like rideshare or delivery drivers. No matter which plan you choose, every plan is risk-free, with a 30-day money-back guarantee.

In addition to your choice of plans, every Endurance coverage option comes with a suite of additional perks, such as 24/7 roadside assistance and towing, trip interruption coverage, rental car reimbursement, and more. You can use your benefits to get your vehicle repaired at a dealership, ASE Certified mechanic, or repair shop. Plus, you can save even more if you activate Endurance Elite Benefits. For a small $20 fee, you’ll enjoy a full year of Elite Benefits, including tire repair or replacement, key fob replacement, collision discounts, and more.

For a FREE quote, contact our award-winning customer service team by calling (800) 253-8203 or shop online today. You can also explore more resources on the Endurance blog, including answers to your frequently asked questions and helpful articles that tell you if Nissans are expensive to maintain, common Range Rover service and repair costs, and how to save even more on car repairs.

Let’s explore whether or not Black Friday is a good time to buy a car and dive deeper into other times of the year when you can find the best price on your next car. 

Are There Black Friday Deals for Cars?

Whether you are looking for a vehicle at a car dealership or from a third-party seller, Black Friday will undoubtedly be a day of deals. In fact, in years past, used cars could have seen as much as 33.1% more deals this time of year than new vehicles.

To demonstrate just how much money you can save on Black Friday, here were some of the biggest savings on vehicles last year in 2021:

• Acura offered 0% financing for 24-36 months for the 2021 TLX
• Audi offered deals as low as 1.99% for 60 months on some pre-owned vehicles
• Dodge was willing to offer 0% financing for 72 months along with $1,000 in cash at the time of purchase

When’s the Best Time to Buy a Car?

With new and used car prices fluctuating, finding ways to save as much as possible helps make the car-buying process smoother. Luckily, there are plenty of times throughout the year when you can get great deals on a new vehicle purchase or a trade-in, including cash-back, lower interest rates, rebates, and other great incentives. 

So to help you get the best price you can find on your next car, let’s explore the times of the year when you can get the best deals and whether or not days like Black Friday are the best time to buy a car:

Black Friday & Christmas

As a whole, the end of the year presents potential buyers with tons of holiday savings, starting from Black Friday through New Year’s Eve and even Valentine’s Day. In fact, on average, December has the highest pure discount off MSRP at 6.1% compared to other months. This temporarily elevated level of savings is due to the large number of holidays that occur around this time. Additionally, some car dealers wish to eliminate their remaining inventory at the end of the year and are willing to offer greater discounts. 

Memorial Day

Historically, the three-day holiday weekend over Memorial Day is one of the best times for car shoppers, despite 2021 and 2022 suffering from supply chain shortages caused by the pandemic. However, expectations for 2023 are far stronger. Savings during this time are estimated to be between 5-8% off MSRP, meaning you could save thousands on a car purchase. 

Labor Day

Labor Day is another three-day weekend where a potential car buyer can save money in a few ways. Mainly, while the holiday weekend brings some sales events, the time of the year plays a significant role in savings. This is because new models for vehicles are released right around Labor Day occurs, which causes a discount to be applied to vehicles currently in the showroom as they try to make way for the new inventory.

The End of the Month

For someone who doesn’t want to wait until a holiday rolls around to look at savings on car sales, simply looking to purchase at the end of the month can help. Car dealerships likely have quotas and sales goals they are trying to meet, so they may apply smaller discounts that make the initial sticker price of the vehicle far more manageable. If you can, consider waiting until the end of the quarter or even until the end of the calendar year, as your chances of finding savings will only increase.

The Fourth of July

The Fourth of July is another great time to find deals on vehicles. However, because of the popularity of the savings the Fourth brings, you may find dealers running low on some of their stock, so look to take advantage of any Fourth of July deals ASAP. 

Is Black Friday the Best Time to Buy a Car?

All in all, while are plenty of excellent times throughout the year for finding car deals, the end of the year, starting with Black Friday, is often the ideal time to buy a car. First, savings from Black Friday, Christmas, and the New Year will be available. It’s also after the time of year when automakers look to roll out their following model year vehicles, meaning older models will often be discounted to make room for the newer vehicles. Combined with some old-school negotiating with a salesperson, these can all help make Black Friday and the end of the year the perfect time to save on your next car. 

Remember, whether it’s the holiday season, a random weekday or another sale, always research and test drive any vehicle you consider.

Save Even More with Endurance Warranty

Being in the market for a new vehicle isn’t ideal for everyone, but buying a used vehicle is still a fantastic way to get your hands on a reliable car without breaking your budget. But, while used vehicles are a great way to save, they’re usually well past their factory warranty coverage. Luckily, whether your car is just past its coverage or up to 20 years old, Endurance Warranty can help protect you and your car from unexpected breakdowns and repairs you can’t avoid. 

Whether you’re looking for basic powertrain coverage starting with monthly payments as low as $79 with the Secure plan or near factory-like coverage with the Supreme plan, there’s an Endurance auto protection plan for you. Even high-end luxury vehicles, salvage and rebuilt title vehicles and more can get covered with Endurance. 

Even better, regardless if you have Secure, Supreme or any other Endurance plan, you’ll get complimentary 24/7 roadside assistance, towing services, trip interruption coverage and rental car reimbursement. You’ll also be automatically eligible for a whole year’s worth of Endurance Elite Benefits, including even more perks and savings, including collision discounts, tire coverage and more. You’ll even be able to transfer your plan to any new owner, so you can use your award-winning Endurance coverage to help get the best price for your car should you ever look to sell it.

Don’t wait until you’re left dealing with expensive repair bills, and request a free, no-obligation quote today. Or, to learn more about how Endurance can help you, call our customer care team at (800) 253-8203. The Endurance blog can also be a great resource where you can find other articles on various automotive topics, including vehicle buying guides, answers to your biggest extended warranty FAQs, maintenance how-tos and more.

If this happens, your credit score and overall credit history can be temporarily impacted, causing you to be unable to make your intended purchase, take out a home or auto loan and then some while you sort out the issue. Due to this, you, like many, may wonder if taking the preventative step of freezing your credit before making such a purchase is a good idea.

What Does it Mean to Freeze Your Credit?

Before jumping in and looking at whether a credit freeze could help you or not, it is crucial to get a background on what credit is as a whole. For starters, credit is simply an arrangement with a financial institution that allows you to borrow money now on the condition that you repay them in the future, typically with some interest included.

Credit can come in many forms, such as a credit card, line of credit, installment loans, and much more. Regarding how this relates to freezing your credit, you may have heard the term “credit report” in the past. And as it sounds, a credit report is simply a statement that contains information about your credit history, such as payment histories, types of credit used during your life, current outstanding credit, and more.

These reports are collected and stored by organizations known as credit reporting agencies, of which there are three: Transunion, Equifax, and Experian. From these reports, each agency assigns an individual a credit score that can constantly change depending on your credit situation. Factors such as on-time or late payments, amount of credit outstanding, history with credit, and more can all affect this score, which you can often find by running a credit check, such as using a free credit report site.

When you take out a large loan for a purpose, such as buying a car, lenders will request access to your credit report to view your credit history and credit score. These two variables will be significant factors in whether or not you are given the loan, helping you to save money on a vehicle purchase.

Freezing your credit means that you contact one of the various credit reporting agencies and place a request to put a security freeze on your credit. Once they approve the request, you will not be able to view your credit report or open a new credit account until the freeze is lifted. 

Should I Freeze My Credit When Buying a Car?

Placing a security freeze on your credit can be an excellent strategy if you suspect you are the victim of identity theft or a data breach may have exposed your social security number to potential scammers. A credit lock can even be an extreme strategy if you lose your wallet and want to ensure that a thief does not ruin your credit score. Either way, though, anytime you know your identity is compromised, freezing your credit report should be something you immediately do. 

And while other risks come with your social security number getting stolen, you can help to ensure that your credit is not damaged. Credit reporting agencies will help you if your identity is stolen, but identifying when the theft occurred and recovering your credit score can be a challenge. 

You may even consider freezing your credit during the process of a large purchase just in case somebody attempts to steal your identity. The thought process in taking this measure is that, with your credit frozen, nobody will be able to open a new credit account under your name, which could potentially impact a lender’s decision to provide you with a loan for the purchase you seek. However, you should not freeze your credit when actively buying a car because the dealership will not be able to pull your credit and, therefore, will not give you a loan. 

Steps to Take if You Freeze Your Credit

If you do decide to freeze your credit before purchasing a car, consider these key tips:

Consider keeping it frozen until you decide to take on a loan

Assuming you are the type of person who is not actively opening new credit accounts, keeping your account frozen can be a wise strategy to protect against new accounts being created in your name. Not only can this help prevent identity theft, but keeping your account frozen until you decide to take on a loan can help deter you from taking on impromptu credit.

The process of unfreezing your credit is quick and easy and can be done by calling or mailing the credit reporting agencies. In most cases, assuming you call, your credit can be unfrozen in as little as an hour. 

Inform the dealership if you plan to freeze your credit shortly after a credit check

You should never freeze your credit while in the middle of a car purchase. Instead, it’s always best to inform the dealership of your credit-freezing habits. Inform the lender that you regularly freeze and unfreeze your credit before and after major purchases. 

If there is an issue with unfreezing your credit and the reporting agencies inform the lender they cannot release your credit, the lender will better understand the reason. And instead of immediately rejecting your loan, they may reach out to inform you of the current freeze.

Regardless of the context, there can be several benefits to freezing your credit. Just be sure to unfreeze your credit anytime a lender is about to view your credit to ensure they can gain access to your report.

How Endurance Can Help Protect Your Vehicle

The car buying process is complicated as a whole, and the last thing anybody wants is their loan to get rejected because they’re the victim of identity theft. That’s why, for some, freezing your credit is a great way to protect yourself from fraud alerts, scammers trying to hack your social security number, or if you’re looking for some general peace of mind. Just be sure always unfreeze it when taking on a loan. 

But once you actually have your hands on the vehicle you desire, how do you know you’re covered from unexpected and costly breakdowns or repairs? Well, if you have a brand-new car, you’ll have a factory warranty to help. But for used car owners, chances are you may be past the available coverage from the automaker. Luckily, with a vehicle protection plan from Endurance Warranty, you can rest easy knowing that you and your car are covered, whether it’s near-complete protection with plans like Supreme or basic powertrain coverage starting at just $79 a month with Secure.

Even better, all Endurance plans come with a full 30-day money-back guarantee, complimentary 24/7 roadside assistance and towing services, trip interruption coverage and rental car reimbursements. You’ll also be able to take your car to any ASE Certified mechanic or repair shop. But that’s still not it, as you’ll also be eligible for a full year of Endurance Elite Benefits, which include even more perks and savings like tire coverage, collision discounts and more.

Get started protecting your vehicle (and wallet) from costly auto repair bills by requesting a free, no-obligation quote today. Or, to learn more about how Endurance can help you, call us at (800) 253-8203. And don’t forget to check out the Endurance blog to find even more helpful tips on what to do (and not to do) when buying a car, as well as other articles on topics like DIY maintenance tips, extended warranty coverage comparisons and more.

Luckily, whether you do have an older car or a new one, there are ways you can get help paying for car repairs. And learning more about them can help ensure you get the help you need to get you and your car back on the road. 

How to Get Help Paying for Car Repairs

Finding the money to fix your car can be incredibly difficult if your car experiences a breakdown or needs repairs. This is especially true if the problem is severe and involves some of the most expensive components, like the engine, transmission, alternator, air conditioning system and more. 

The good news is that some charitable or governmental organizations and other various methods can help you get the financial help you need to get the repairs done. And while you may need to qualify or provide proof of need, understanding these resources can help you choose the right one for your particular situation. 

Federal Government Grants

Depending on your circumstances, some government organizations offer grants for people who need repairs on their vehicles. If you need your car to get to your job, one of the most popular programs available is the Job Access and Reverse Commute, also known as JARC. This program usually runs through your local Department of Human Services or social services office and offers grants to people who need repairs for their commuter vehicles. 

As with many federal social programs, if you are part of a particularly vulnerable demographic such as single mothers, veterans, or people on financial assistance, your likelihood of getting help is much higher. The best way to determine if you qualify for one of these JARC grants is to check with your local Department of Human Services office. They will be able to point you in the right direction and let you know if your situation qualifies as an immediate need. 

Car Repair Organizations

Several independently-run car repair organizations throughout the country focus on helping people keep their cars running smoothly. Many of these organizations are locally based and are dedicated to working with the people in their community. Some examples of these non-profits include Hands of the Carpenter in Denver, CO, and Vehicles for Change in the Maryland, Washington D.C., and Virginia areas. 

These organizations offer up to $1,000 to people who need their vehicles repaired to get to work or school. Even if you don’t live in one of the above areas, it may be worth contacting these non-profits. They will be able to direct you toward local resources in your area that has a similar mission so you can get your car back on the road. 

Vehicle Donation Charities

Sometimes, it just wouldn’t make much sense financially to fix a car, such as the cost of repairs being more than the actual cost of the vehicle. If this happens, some vehicle donation charities can get you a used car if you qualify. Generally, these vehicle donation charities take used cars in fair condition and distribute them to people who are in need. 

One of the largest vehicle donation charities in the country is 1-800 Charity Cars. They offer vehicle donations to people who qualify. Generally, you can only get a vehicle if you fall into one of the following categories if you are: 

• A veteran
• A victim of natural disasters or domestic violence
• Disabled
• Belong to a family moving away from public assistance

While these are the people they help the most, you may also qualify depending on your situation, even if you don’t check any of the above boxes. Contact them or check your local listings for vehicle donation charities near you. 

Churches

Even if you are not religious, churches are an excellent resource for people in need, no matter the issue. Many churches and religious organizations have resources available for people who need transportation or financial assistance due to all kinds of circumstances. While some national organizations can help, many vehicle resources will be local to your community. 

One of the national organizations is Lutheran Services. They work with several local, community-based churches to help people get car repairs or vehicle donations. They are a great place to start if your car has broken down and you need to get to work since they usually prioritize employed people who are still struggling financially. 

Veterans Organizations

If you are a veteran of the armed forces, many organizations in the United States are there to help you fix your car or get reliable transportation. One of these organizations is Keys to Progress, a charity run by Progressive Auto Insurance focused on helping veterans replace their cars or get them a new vehicle when the need arrives. They host several giveaway events throughout the country, and all the vehicles they donate are high-quality, previously-owned cars meant to be as reliable as possible. 

If you are an injured or disabled veteran, The Semper Fi Fund could be a good option. They offer resources for vehicle repairs for injured veterans and their families all over the United States. They also offer financial assistance to people who need to modify their current vehicles to accommodate an injury or medical issue. 

Crowdfunding

If you are so inclined, crowdfunding is a great way to get the money you need to repair your vehicle. Sites like GoFundMe offer a platform for you to solicit donations to get your car fixed. In exchange, you can offer incentives such as rides or running errands for people who give to your campaign. If the cost of repairs is relatively low and you have a network of friends and supporters who can help, this could be a great way to get the assistance you need. 

If your car is still relatively new, the odds are good that it is still under its manufacturer’s warranty. This new car warranty covers you from issues that may come up due to issues at the factory or design defects. A factory warranty, which can come in the form of a bumper-to-bumper warranty and/or a powertrain warranty, usually lasts between three years or 36,000 miles and five years or 60,000 miles. If you would then like to continue this coverage, you can get an extended auto warranty from the automaker. However, most automakers may limit you to purchasing this kind of coverage while the original warranty is still active, so if you miss the cut-off or have an older car past its coverage limits, you would be unable to purchase an extended warranty from the automaker. Instead, you can purchase coverage from a third-party warranty company. 

But whether it’s the automaker or a third-party warranty provider, with the right coverage, you can be protected from expensive auto repairs with little to no expenses apart from any applicable deductibles, so you don’t have to worry about getting the financial assistance you need.  

How Extended Car Warranties Help with Car Repairs

Coverage through a third-party extended warranty provider is a great way to get the same kind of breakdown coverage without being limited to a specific time to purchase it, making it perfect for those purchasing a used car or those with older vehicles. However, while the plans from these providers are similar to warranties and are often referred to as such, they are actually vehicle service contracts, also called VSCs or vehicle protection plans, as only an automaker can “extend” an original vehicle warranty. However, it’s crucial to remember that any warranty, factory or otherwise, is not the same as car insurance.

Still, while not “officially” a warranty, a vehicle service contract from a high-quality provider like Endurance can cover all your vehicle’s essential components from wear and tear damage and high repair bills. And understanding what Endurance has to offer can help you decide if it is right for you and your vehicle. 

For example, unlike other providers, Endurance plans are customizable to help fit practically every budget and driver, including basic coverage starting as low as $79 per month or comprehensive coverage with just a small list of exclusions. Endurance can even help protect vehicles that other providers won’t cover, like high-end luxury vehicles from select car manufacturers, Canadian Grey Market vehicles, salvage and rebuilt title vehicles, and even those used for rideshare or delivery. Even vehicles up to 20 years old and with unlimited mileage can get coverage with Endurance. Plus, you can take your car to any certified repair shop or ASE Certified instead of having your vehicle fixed solely at the car dealership or an automaker-approved repair facility.

On top of coverage for expensive repairs, Endurance plans offer a range of benefits and perks that will keep you safe on the road. All plans come with 24/7 roadside assistance and towing, trip interruption coverage and rental car reimbursements. And for a small activation fee, you also get access to a full year of Elite Benefits, including tire replacements or repairs, collision discounts and more. Plus, your plan is available 24 hours a day through the easy-to-use Endurance mobile app and access to our award-winning coverage and customer service. 

Get Help With Car Repairs with Endurance

Whether you own a Ford, Honda, Toyota, Subaru or any other vehicle make or model, if you depend on your car for your day-to-day activities and responsibilities, an unexpected breakdown can cause serious problems. But knowing the available resources to you can help you get the help you need can get you back on the road as soon as possible. 

With an Endurance vehicle protection plan, you get peace of mind knowing that your covered repairs that your typical insurance contract won’t cover will be taken care of and that you won’t be left without the transportation you need. You’ll also have access to award-winning customer service to go along with your award-winning coverage. So whether you have factory-like coverage with just a small list of exclusions in the Supreme plan or basic powertrain warranty coverage starting at just $79 per month with a Secure plan, you know Endurance will have you covered. Plus, all plans also come with a 30-day money-back guarantee, 24/7 roadside assistance, trip interruption coverage, rental car reimbursements, and, for a one-time activation fee, one year of Elite Benefits, including tire replacements or repairs, collision discounts, and much more.

To learn more about how Endurance can help you, call our award-winning customer care team at (800) 253-8203 or request a free quote today. By visiting the Endurance blog, you can find even more extended warranty comparisons and other articles on topics like DIY car maintenance tips, vehicle buying guides, and much more.

And while both buying and leasing have their pros and cons, one of them may not be the best choice for you. That’s why learning more about leasing a vehicle, and other car shopping tips can help ensure you’re getting the right vehicle for you.

What is “Leasing” a Car?

For many, leasing a car may seem similar to the general car buying process, but it is distinctly different. First, while buying a car requires a down payment and monthly car payments (unless you can pay for the vehicle outright), leasing a vehicle will not always require a down payment. Instead, you will be responsible for monthly lease payments, often cheaper than the monthly payments on a new car. And along with these minor differences, the major difference between leasing a car and buying a car comes down to car ownership. 

As you can guess, when you buy a car outright or after a few monthly payments, you own the vehicle and can do with it as you see fit. But when you lease a car, you are simply paying for the right to drive it around up until a specific mileage limit or timespan, with most lasting between two to four years on average. For example, per the Department of Motor Vehicles (DMV), standard leases usually last for 36 months or 36,000 miles. But regardless of how long your lease agreement is, once the auto lease is up, you return the car to the dealership and walk away for good.

Should You Buy or Lease a Car

On the surface, leasing a vehicle can sound quite appealing, considering its lower average monthly cost than purchasing a vehicle. However, limitations imposed on a lease agreement may negate the lower cost benefit for your personal situation. That’s why learning more about some of the common benefits and drawbacks of buying or leasing a car can help you make the right decision for you:

Benefits of Buying a Car

• You own the vehicle and can do what you want with it.
• No mileage restrictions or limits are hanging over your head.
• Buying can be cheaper in the long run than continually leasing multiple times.

Cons of Buying a Car

• You’re stuck with it unless you sell it in the future or scrap it.
• Higher monthly payments than leasing.
• There will be long-term maintenance costs as the car ages.

Benefits of Leasing a Car

• You get to drive the car during its most trouble-free years.
• Gives you the ability to drive a higher-priced car than you may generally be able to afford.
• Potential benefits included within the lease agreement, such as oil changes or warranty coverage.

Cons of Leasing a Car

• You may have to pay excess wear and tear costs if you don’t keep the vehicle in good condition.
• You don’t have the flexibility to change things on a leased car.
• Lease contracts for vehicles often have a mileage limit, so drivers who are always on the road may not benefit.

As evident by the above points, both options have excellent arguments for and against. If you’re not in the market for a long-term vehicle, leasing can be an effective strategy for getting a vehicle for a cheaper cost for a few years. However, buying a car and keeping it for a few years will likely be cheaper than leasing multiple vehicles over the same period. 

Other Tips When Getting a New Car

Whether looking at getting a leased car, new car, used car, or anything else, there are some tips you need to consider before making your choice. 

Research the long-term maintenance costs

When you purchase or lease a vehicle, the upfront price is not the actual cost, as monthly lease payments or purchase payments are just one of many other things to keep in mind. For instance, regular car maintenance is vital for any vehicle. It is often covered on a leased vehicle, while you would be responsible for those costs when you purchase a vehicle. 

For example, on just maintenance alone, owning a Honda Civic Si would cost you around $3,284 over five years, or just around $658 per year. Combine that with the cost of car insurance payments, unexpected repairs, gas and other expenses, and you could raise the actual value of your car by a couple of thousand dollars compared to that initial sticker price. So, if you purchase a vehicle instead of leasing, don’t just look at the price. Consider the long-term impact of that vehicle on your budget and ensure that the vehicle you choose has low maintenance costs and good reliability. 

Perform a pre-purchase inspection

While it may seem like a hassle at first glance, you should always perform a pre-purchase inspection of a vehicle you are interested in. A leasing company or dealership may not even be aware of a visible issue with the vehicle, but if you drive it off the lot and try to come back after finding it when you get home, they may not believe you.

Whether you are a lessee or a purchaser, save money by performing a walk-around inspection of any vehicle you are interested in. If you are leasing a vehicle, check the odometer to the number of miles on the vehicle to ensure accuracy with what you are told. Any normal wear and tear should also be noted before you drive off a lot, so you do not get charged for what already existed when you return a leased vehicle. 

Take it for a test drive

While a pre-purchase inspection can help you identify any visible flaws with a vehicle, taking the vehicle for a test drive allows you to see if you enjoy how the vehicle drives. The last thing you want is to pay high monthly costs for a vehicle you don’t even like driving. Take any vehicle you consider purchasing or leasing for a short test drive on similar roads to those you would frequent to ensure the vehicle meets expectations. 

Choose the right warranty

One of the best ways to save money while owning a vehicle is to ensure all components under the hood are protected. And while factory warranties will offer this kind of coverage if you’re purchasing a brand-new vehicle, investing in an extended warranty on a used car can help you get peace of mind and help mitigate some unexpected costs of owning a vehicle. This is especially true when it comes to covering the repairs and issues that the average car insurance plan won’t help you with. 

For example, with an Endurance vehicle protection plan, you can get comprehensive breakdown protection for a car up to 20 years old, regardless of how many miles it has on the odometer. You’ll even enjoy several standard benefits like 24/7 roadside assistance and towing, trip interruption coverage and even rental car reimbursements. And, because Endurance is a direct provider, most of our plans are also transferable. So even if you end up selling your car with active coverage, you can help fight against your car’s depreciation and boost its resale value as the new owner can enjoy the same great coverage you had. 

How Endurance Can Help Protect Your Vehicle

Choosing between purchasing and leasing a vehicle is a decision that shouldn’t be taken lightly. After all, while leasing has many cost benefits, these can quickly become void if you lease vehicles for your entire life. If you purchase a vehicle, going with a used one can help get you a lower overall purchase price while still getting a vehicle you can rely on. However, while a used car can help limit up-front costs, things like maintenance, repairs and so on can start to add up over time, especially if you no longer have an active factory warranty. Instead, give yourself peace of mind when it comes to those unexpected and expensive repair costs with the help of an Endurance vehicle protection plan. 

Like a car’s factory warranty coverage, each Endurance plan is designed to protect your vehicle’s vital and expensive components from the cost of breakdowns and repairs caused by general wear and tear use. But, unlike a factory warranty or an extended warranty from your automaker, with Endurance, you don’t have to worry about your car being ineligible for coverage as Endurance plans can help cover vehicles up to 20 years old, regardless of their mileage. So whether you’ve purchased a lightly used car just past its factory coverage cutoff or if you’ve had your car for years already, Endurance is sure to have the plan for you, including coverage starting as low as just $79 per month.

And, as a bonus, no matter the Endurance plan you choose, you’ll automatically be able to enjoy standard benefits like roadside assistance and more. You’ll even be able to take your vehicle to any ASE Certified mechanic or repair shop of your choice while also being eligible for even more perks and savings with a year’s worth of Endurance Elite Benefits. 

Don’t wait until you’re left paying for unexpected car repairs; request a free, no-obligation quote today. Or, to learn more about how an Endurance vehicle protection plan can help you, call our award-winning customer care team at (800) 253-8203. You can also find even more articles with car buying/leasing tips and other topics like DIY maintenance how-tos, driving safety guides, extended warranty coverage comparisons, and more by visiting the Endurance blog.

But, while there is no fool-proof way to avoid every breakdown or repair, adding an extended auto warranty to your vehicle can remove some of the burdens that unexpected repairs bring, including helping you save money.

What Are Extended Auto Warranties?

Before learning more about extended warranties, it’s first essential to know about factory warranties, which are protection plans available for brand new vehicles that provides you, as the owner, coverage against expensive repair costs due to mechanical breakdowns or other issues. This typically comes in the form of bumper-to-bumper warranty coverage or powertrain warranty coverage that protects crucial aspects of a vehicle. 

However, while comprehensive, this coverage only lasts for a few years, with most giving you 3 years/36,000 miles (whichever comes first) to 5 years/60,000 miles, though some automakers can offer coverage as high as 10 years. But, regardless of how long that coverage is, it will end; when it does, an extended warranty can help you continue getting the same comprehensive coverage.

Most automakers often offer you extended warranty coverage, though there is often a catch. Mainly, many automakers will only allow you to extend your coverage while your original manufacturer’s warranty is still active. So if you wait a day too long or drive a mile too far, you won’t be able to get coverage. And even if you go with your automaker, you could find yourself stuck to only getting repairs done at certified dealerships, meaning that if you move or find yourself a long way from home and need repairs, you could be out of luck. Thankfully, you can still get the same great breakdown coverage with third-party warranty providers, such as the plans offered by us at Endurance Warranty.

Like extended car warranties from automakers, third-party warranties, also known as vehicle service contracts, can provide you with the same comprehensive breakdown protection for a monthly fee. Plus, with coverage plans from third-party car warranty companies, you can take your car to any certified repair shop or mechanic, including the dealership, so you never have to worry about where you can get your repairs done. You’ll even be able to enjoy extra perks and services, like 24/7 roadside assistance and towing, trip interruption coverage and even rental car reimbursements that come for free regardless of your level of coverage.

5 Ways an Extended Warranty Can Help You Save

The bottom line is that owning a vehicle is expensive, and that’s not just referring to how much it costs you to buy it. Between regular maintenance, breakdowns and beyond, you could be left paying more than you’d expected before you were handed the keys. But learning more about how an extended auto warranty can help you save can help ensure that you and your vehicle are protected from those costly repair bills you aren’t planning for. 

1. Cover the Cost of Unexpected Repairs

The biggest and most obvious way an extended warranty can help is by footing the costs of auto repairs covered by the contract. For example, if your car needs a new transmission, you could be paying anywhere from $3,000 to potentially as high as $10,000! But, with the right extended warranty coverage, the only payment you’d have to worry about is your monthly payment and any applicable deductibles that your contract may require.

2. Can Help Upsell Your Vehicle

In some cases, a vehicle protection plan can be transferable to a new owner, like most plans offered by Endurance Warranty. So if you’re ever looking to sell your car while your coverage is still active, you can upsell it by giving potential used car buyers extra peace of mind knowing that they’ll be able to enjoy the same great coverage. However, while Endurance plans are transferable, some warranty providers don’t allow for transfers, so if you have a contract already, be sure to read the fine print before promising coverage to any potential buyers. 

3. Fill in the Gaps of Your Current Coverages

While a factory warranty is a great way to protect your car, and coverage from an auto insurance company is a must, both only go so far when it comes to repairs. For example, maybe the original warranty on your vehicle isn’t the most comprehensive and just covers the essentials, and you’re left paying for a repair you thought would be covered. And as car insurance only covers damage resulting from accidents or extraordinary circumstances, an unexpected breakdown to a part not covered by either would leave you dealing with the repair bill. 

But, with a customizable vehicle protection plan, like the customizable plans from Endurance, you can ensure that you can cover every eligible part of your vehicle you want to be covered. Better still, with Endurance, you can enjoy a full 30-day money-back guarantee, so you can be sure that the coverage option you chose is the right one for you.

4. Offer Can Comprehensive Maintenance Coverage & Benefits

When it comes to any vehicle, the best way to help avoid repairs and breakdowns is with regular maintenance. But, while insurance and factory warranties can help you with eligible repairs, you’ll have a hard time finding one that can help you with maintenance. Combined with the fact that the average cost of car maintenance for a car driven 10,000 miles each year hovers around $900, and over time that cost can add up to tens of thousands of dollars or more, depending on how much you drive and how long you own your vehicle. 

However, when you have an Advantage auto protection plan from Endurance, you can get comprehensive breakdown protection AND savings of up to $3,500 on some of your car’s biggest maintenance needs. That includes oil changes, tire rotations, alignment checks, engine diagnostic exams and more. Plus, you’ll also be able to save even more with several special, one-time services like cooling system maintenance, a battery replacement and more.

5. Can Offer Specialized Coverage Packages

Certain vehicles may not be eligible for more basic extended warranty packages. High-mileage vehicles, for example, are often passed over by warranty providers due to their increased chance of breakdowns. Providers will also often exclude luxury vehicles due to their premium repair costs. But, with Endurance, you can rest easy knowing that both these vehicles can get coverage.

With the Advantage plan, you can get breakdown protection for vehicles up to 20 years old and unlimited miles on the odometer. Or, the Highline protection plan can help cover select luxury vehicles from some of the most popular automakers in the world, including Audi, Mercedes-Benz, BMW, Porsche, Jaguar, Range Rover and more. Even salvaged or rebuilt title vehicles, Canadian Gray Market vehicles and even those used commercially for rideshare and delivery services can get coverage with Endurance.

Or, if you’re looking for a basic level of coverage without breaking your budget, Endurance offers plans with low monthly payments. So whether you’re looking for basic powertrain protection, a comprehensive plan for a high-mileage car or more, Endurance is sure to have the plan for you.

Keep Your Vehicle Covered with Endurance

Whether you’re buying a car at a car dealership or a third-party seller, it’s vital to remember that what you’re paying upfront isn’t the actual cost of the vehicle. In fact, between regular maintenance, trips to the gas station, car washes and the occasional breakdown and repair, owning a vehicle can end up costing you thousands more than the sticker price. But, with the help of an extended warranty, like the coverage of an Endurance auto protection plan, you can rest easy knowing that your car and your wallet will be covered.

For example, you can help protect your vehicle and save up to $3,500 in yearly routine maintenance services with the Advantage plan. Or, you can find near factory-like coverage with just a short list of exclusions with the Supreme plan. You can even find basic powertrain coverage for your vehicle’s most vital components, like the engine and transmission. But that’s not all, as every Endurance plan also comes with perks like 24/7 roadside assistance services and towing, plus trip interruption coverage and rental car reimbursements. You’ll even be eligible for even more perks and savings with a full year of Endurance Elite Benefits, including collision discounts, tire replacements or repairs and more.

Don’t wait until you’re stuck paying an unexpected repair bill and request a free, no-obligation quote today. Or, to learn more about how Endurance can help you and your vehicle, give a member of the award-winning Endurance customer service team a call at (800) 253-8203. You can also find even more money-saving car tips, including ways to boost your car’s miles per gallon, or other articles on DIY maintenance how-tos, vehicle buying guides, extended warranty coverage comparisons and more by visiting the Endurance blog.

That’s why, if you can’t wait for car prices to level out again, finding ways to save during the car buying process can help you get the right vehicle without breaking your budget.

Why Are Car Prices High?

Whether you’re visiting a dealership or are searching for a car online, you’ve likely noticed that car prices are pretty high, whether you’re looking at a brand new car or a used one. But why? Well, the primary cause of this price increase has been a semiconductor shortage in the auto industry due to the COVID-19 pandemic.

Mainly, with stay-at-home orders throughout the country and worldwide, many consumers began looking for new ways to stay entertained while stuck at home. This meant that devices such as phones, computers, game consoles and other electronic devices began seeing a rise in demand. These devices utilize the same type of semiconductors, aka microchips, to operate. Combined with people driving less and less, semiconductor manufacturers began putting a greater emphasis on at-home technology and less on the automotive industry. 

But chip manufacturers can’t meet automakers’ demand with the pandemic waning. And without semiconductors, fully constructed vehicles can’t be sold as a vehicle’s electrical system, air conditioning, and general connectivity will not work. However, hope is on the horizon with the new bipartisan bill signed by the U.S. President, which will invest billions into the research and production of semiconductors here in the United States.

That said, there is no way to know when semiconductor manufacturing will catch up to the auto industry’s demand or when prices will start to drop, so learning how to save money during the car-buying process is a must-do.

Tips to Save Money Buying a New or Used Car

When looking for your next car, whether it’s an old car, used car, or brand new vehicle, there are many ways to save. These methods range from negotiations with car dealers, finding the best purchase price from different sellers, to even finding help with an auto loan. 

1. Wait for the Right Time

The holiday season is a great time to get a good deal on anything, even cars. More specifically, you can receive more favorable contract terms from dealerships or a car loan lender by waiting for the right time of year, whether it’s the holidays or some time else. Whether it be a better interest rate, down payment, or all-around monthly payment, the holiday seasons are undoubtedly one of the best times to make a car purchase. 

Even months like October or November can be a great time to start your car buying process, as October tends to feature better auto loan terms. This is because many vehicle manufacturers announce the release of the following year’s model. As a result, the current year’s model enjoys a small discount on the price that can make a car payment more bearable. 

2. Check the Vehicle History

For a new car, look into reviews from previous customers to see if any significant complaints may stop you from wanting to make the purchase. For used cars, consider researching sources such as Consumer Reports, Edmunds, Kelley Blue Book (KBB) or Carfax to see if you can pull information on the vehicle.

You should also always ask for an in-depth history of a used vehicle when purchasing, including any prior damage or repairs that were necessary. Doing so can help you save money. 

3. Take a Test Drive

Think about your current car and all the small things you’ve noticed over time about how it drives on the road. If you could go back before you purchased the vehicle, would you still make that purchase based on how it drives? A big part of learning how to save money buying a new or used car is taking a test drive.

By simply trying out a vehicle before you buy it, you can identify any potential flaws that may cost you money in the future and give you an idea of just how well (or poorly) the vehicle handles. Inspect the car to see if there are any damages you may not notice if you glance at the car.

4. Compare Quotes for Auto Loans

If you’re car shopping on a budget, taking out an auto loan, also known as a car loan, can help. But, when considering how to save money buying a car, it’s essential not to settle for the first offer you receive for a loan. In fact, as you would for a car or any major purchase, it’s recommended to take your time and compare the cost of a car loan from different providers before making a decision. But where to start? 

Well, car dealerships often offer their own financing, but if you’re a car buyer looking to stick within a specific price range or have a less-than-ideal credit score, turning to a traditional bank, credit union, or online lender could be a better choice. But no matter which you consider, ask for a quote on an auto loan for the vehicle you wish to buy and compare it to other offers you have received to ensure you get the best price. 

However, if you are in the financial position to do so, paying cash for a vehicle can be an intelligent choice to avoid higher interest rates. 

5. Calculate Future Maintenance & Repair Costs

Monthly car payments are not the only vehicle cost you must consider when making a car purchase. For any vehicle, regardless if it’s new or used or a particular make or model, regular maintenance is vital to keep it running for as long as possible. But that also means that long-term maintenance costs can quickly add up to the thousands if you’re not careful, and a car that may be within your budget just by the sticker price may not be when you consider its maintenance needs. 

Use sources such as Edmund’s five-year cost calculator or Kelly Blue Book to determine the common problems your vehicle may face and their associated costs. 

6. Trade In Your Old Vehicle

An often overlooked strategy for reducing the cost of purchasing a vehicle is looking into receiving trade-in credit for your current vehicle. Whether you are looking for trade-in credit or are simply trying to garner a few extra dollars toward your next purchase, getting rid of your old vehicle can help.

In fact, some dealerships may even accept a trade-in instead of a down payment, so be sure to ask your salesperson what options are available to you.

7. Invest in the Best Warranty

If you’re buying a brand new car, you can rest assured that its factory warranty will help take care of any issues you may have for a certain number of years or miles driven. But once you’ve hit those limits, or if your next car is a used car without coverage, you’ll be responsible for paying for any repairs that can pop up. And when it comes to issues due to maintenance or general breakdowns, your car insurance will not cover the items that your factory warranty protected you against. Still, the right extended warranty or vehicle service contract will. 

Some plans, such as our Advantage auto protection plan, can even help protect you by offering up to $3,500 in yearly maintenance services plus the extensive component protection you need to help protect your vehicle. Even cars with a salvaged or rebuilt title can get coverage with Endurance. You’ll also receive extra benefits like complimentary 24/7 roadside assistance and towing, trip interruption coverage, and rental car reimbursements. Plus, just by being an Endurance customer, you’ll also be eligible for even more perks and savings with a year’s worth of Endurance Elite Benefits, including collision discounts, tire repairs or replacements, and more.

Protect Your Car & Your Wallet with Endurance

Taking the time to research and find ways to save on car purchases is more important now than ever, considering the all-time high prices consumers face. 

But regardless of whether you purchase a new or used car, ensuring that vehicle is protected from the unknown should be a top priority. Even if you are choosing to hold onto your current vehicle until prices begin to drop, the right extended warranty can help reduce the depletion of your savings account in the future. Some, like plans from Endurance, are even transferable, meaning you can use your car’s comprehensive coverage to upsell it to potential car buyers whenever you’d like to sell it. 

Plus, along with helping you get coverage from unexpected and expensive auto repairs and breakdowns, each Endurance plan can also help you by providing roadside assistance and other standard benefits. Combined with your year’s worth of Elite Benefits, like tire coverage and collision discounts, you can rest easy knowing that Endurance has you (and your wallet) covered.

Don’t wait until you’re stuck paying for expensive repairs; request a free, no-obligation quote today or call us at (800) 253-8203 to learn more about how Endurance can help you. Or, to find even more money-saving tips and other articles on topics like DIY maintenance, vehicle buying guides, extended warranty coverage comparisons and more, be sure to check out the Endurance blog. 

In fact, not only does regular maintenance help you as a vehicle owner keep your car running for longer, many essential maintenance tasks require very little energy. They can even be done right at home, leaving no reason for them to be left unattended.

What Does “Regular Maintenance” Mean?

Before diving into how tackling regular maintenance will save you money, it’s important to define the term. And to put it simply, regular maintenance means performing the various maintenance tasks your vehicle needs after a set period or miles driven to stay running for longer. More specifically, however, regular maintenance means following the recommended maintenance schedule provided by your car’s manufacturer while also handling small tasks that keep a vehicle in working order.

This maintenance schedule, which you will often find in your owner’s manual, may include various tune-ups and other minor (or major) services at important mileage milestones, such as every 15,000 miles, 30,000 miles, and 60,000 miles. In general, though, some of the most important maintenance tasks you need to do as part of your car’s regular maintenance schedule will include: 

• Oil Changes: Follow the manufacturer guidelines for how often the oil needs to be replaced in your vehicle.
• Tire Rotations: Rotating your tires every 5,000 miles is a good rule of thumb, but this can vary by vehicle. This is an important step in extending the life of your tires by ensuring even wear on your treads.
• Inspecting Tire Treads: On that topic, taking a look at the treads of your tires is recommended to ensure your tires aren’t going bald.
• Looking at Tire Pressure: One final task when inspecting your tires should be double-checking tire pressure manually or using your vehicle’s computer to ensure they meet the manufacturer’s recommended guidelines.
• Inspect Brake Pads: Generally, your brakes and pads should last you around 20,000-30,000-miles, but it’s a good maintenance item to remember for those with slightly older vehicles.
• Replacing Windshield Wiper Blades: This is a simple yet crucial tip for those of you in wetter climates. Should you notice your windshield wipers no longer clean your windshield effectively, take the time to stop off at an automotive parts store to replace them.
• Familiarizing Yourself with the Owner’s Manual: While you won’t be physically working on your car with this, reading through your owner’s manual to learn what type of maintenance your specific vehicle requires, as well as how often, should be a priority for you as a car owner.

The above are just common examples of what regular maintenance may look like when you own a vehicle. As mentioned, refer to your car’s owner’s manual or the manufacturer’s website to learn about any specific maintenance tasks you may need to perform to help you avoid potentially bigger problems in the future.

How Regular Vehicle Maintenance Saves You Money

When dealing with both high gas prices and the high costs for both used and new car prices due to chip shortages and general supply chain issues, it’s never been more important to save as much money as possible. Routine maintenance keeps the parts of your vehicle in better condition, which, in turn, keeps the larger parts of the vehicle that they make up functioning properly. In fact, with the right kind of maintenance, you can actually help improve your car’s gas mileage on top of expanding its lifespan. 

However, while it’s one thing to learn what regular vehicle maintenance is and looks like, understanding its importance from a cost-saving perspective can be difficult. So to help emphasize this, let’s look at some potentially costly auto repairs for popular vehicles that may have been prevented or lessened through preventative maintenance:

• Ford F-150 Brake Replacement: Without regular maintenance, your brake pads could wear down too far and cost you a decent chunk of change. For example, replacing a single brake pad on a Ford F-150 is valued anywhere from $172 to $196, which may not seem bad until you consider a vehicle can have anywhere from four to eight pads depending on the model. The only thing worse than needing to replace those brake pads is replacing the brakes as a whole, which could cost you hundreds or more for all the required parts combined. Even inspecting your F-150’s brake system could cost anywhere from $88 to $111.
• Honda Odyssey Wheel Repair: Tires and your car’s wheels are some of the most important things on any vehicle. After all, without working tires, you could be putting yourself and others in danger. Not to mention that improperly inflated tires can also cost you more at the pump. And if you fail to maintain your car’s tires, such as those on a Honda Odyssey, you could be harming your car’s wheels (aka the part of your vehicle the tire warps around). If this happens, it could cost you anywhere from $745 to $756 on average to replace, all of which can potentially be avoided by simply checking your car’s alignment and rotating your tires when required.
• Jeep Wrangler Transmission Repair: Your car’s oil isn’t the only essential fluid a vehicle needs. For example, your car’s transmission is another vital component that needs to have its fluid replaced regularly, which would only cost you around $143 to $165. However, fail to change your transmission fluid for too long, and you could be looking at replacing your entire transmission, which can start at $1,800 and go as high as $3,400 if you own a Jeep Wrangler. However, for only $143-$165, you can get the transmission fluid in your vehicle replaced, which is a far better price than that of replacing the transmission.
• Honda Civic Radiator Replacement: Your engine is an intricate system that requires the help of a radiator to cool down fluids which, in turn, cool down the engine. However, if you don’t actively maintain your car’s radiator, it can be catastrophic, and your engine could overheat. And if this happens in your Honda Civic, you could be paying between $668 and $823.

When it comes to maintenance, an extended warranty or vehicle service contract can help you save even more on costly car repairs. Endurance’s Advantage package combines both of these to maximize your protection and savings.

How Endurance Can Help You Save

The Advantage protection plan offered by Endurance Warranty is an industry-leaving coverage plan that combines comprehensive protection that can help you take care of your car with up to $3,500 in yearly maintenance benefits, including:

• Up to $50 per oil/filter change (3x per year)

• Up to $45 towards an engine diagnostic exam

• Up to $25 towards an alignment check

• Up to $35 towards tire rotation/air pressure (PSI) check

Additionally, Advantage offers several single-use services during the life of the contract for even more savings, including:

• Up to $100 towards a new vehicle battery

• Up to $20 toward one set of windshield wiper blades

• Up to $140 towards a brake pad replacement

That’s not all, as you can save on your vehicle’s first three major service intervals with Advantage. This includes saving up to $25 towards your first, $45 for your second and $65 for your third service visit.

Combining these standout benefits will the all-around perks Advantage provides, you can rest easier knowing that you are saving time and money by protecting against unexpected breakdowns and costly repair bills. Plus, as an Endurance customer, you can take your vehicle to any certified mechanic or repair shop of your choice, meaning that no matter where you are, you can be confident Endurance will have you covered.

Save Money While Protecting Your Vehicle with Endurance

When it comes to avoiding having small problems turn into something bigger, regular car maintenance is often the best way to help you save on major repairs. But while many extended warranties or vehicle services contracts can help you save on costly breakdowns and repairs, only the Advantage protection plan from Endurance can do that AND help you save on your car’s maintenance to help keep it running for years to come. 

But that’s not all, as you can save even more just by being an Endurance customer, regardless of your coverage, thanks to perks like 24/7 roadside assistance and towing, trip interruption coverage and even rental car reimbursements. You’ll also automatically be eligible for even more perks and savings like collision discounts and tire replacements or repairs, thanks to a full year’s worth of Endurance Elite Benefits.

Save on your car’s repair needs with Endurance by requesting a free quote today. Or, to learn even more about how Endurance can help you save, call the award-winning Endurance customer care team at (800) 253-8203. And don’t forget to check out the Endurance blog to find even more ways you can save on your car, including expert maintenance tips, vehicle buying guides, extended warranty coverage comparisons and more. 

But, following a few simple tips at the gas pump and even at home can help you save. 

How to Save on Gas

First, we will look at a few different ways you can save money when driving your vehicle or purchasing gas for your vehicle. 

Comparing Gas Prices with Apps

One of the most common ways many people save money on gas is by researching and comparing fuel prices in their area. After all, why would you want to fill up at a gas station that’s a few cents higher for a gallon of gas when you can go a few blocks down the street and save a few bucks?

There are many different gas price comparison apps, such as GasBuddy, which allows you to see all the gas prices within a specific radius of your location. This will allow you to see where the cheapest gas is around you so you can save the most money.

Take Advantage of Reward Programs

Gas reward programs are a great way to get cash back on gas and grocery store purchases. Depending on the reward program, you can get cash back, discounts, gift cards and other rewards that help offset fuel costs.

Choose from popular rewards programs such as BPme Rewards, Exxon Mobil Reawrds+, Shell Fuel Rewards, Pilot Flying J Rewards, and many more. After all, if you purchase gas, you might as well be rewarded for it. You may find some credit card providers may offer rewards programs on gas purchases, helping you save even more at the pump. 

Keep Up with Maintenance

Your vehicle’s gas mileage is determined by how efficiently your engine runs, aka your car’s fuel efficiency. It’s essential to keep up with your vehicle’s maintenance schedule to help keep your engine running smoothly, which you can often find right in your car’s owner’s manual. There, you’ll be able to see how often your automaker recommends maintenance services such as oil changes, air filter changes, tire rotations, and keeping your tire pressure (PSI) at the right level, all of which can help ensure your engine runs as efficiently as possible.

Other Ways To Save

While there are a few different ways to save on gas purchases, there are many other ways you can save money as a car owner. 

Hand Washing Your Car

While this may not be something most would consider “convenient,” washing your car by hand can save you a couple of hundred dollars a year compared to paying for car washes. Hand washing also helps you to save money on future car repairs, as drive-through car washes can cause scratches on the surface of your paint. Knowing how to wash your car properly can protect your paint for years.

Plan an Efficient Route

Whether running around town or heading out for a road trip, planning the most efficient route can help you save money on gas, especially if you are dealing with frequent red lights and stop-and-go traffic. So while adding an extra mile or two may feel like it’s taking you out of your way, you may actually use less gas overall, which can easily add up to some serious savings over time. To help, use apps like TripTik by AAA or Waze to help you find the best route for your next trip. Even better, look at carpooling with others whenever possible. 

Drive More Efficiently

When driving your vehicle, make sure you are driving efficiently to help minimize your fuel consumption. This may mean changing your driving habits entirely, as hard stops and quick accelerations can eat up gas and decrease your overall fuel mileage. Driving the speed limit, accelerating smoothly, “coasting” when able and coming to stops at a controlled pace can help you get the best fuel economy for your vehicle. It will also help to avoid idling in your vehicle, as you’ll still be burning gas even if the car isn’t moving. And while it may be tempting to roll the windows down and enjoy the breeze, especially in spring and summer, it can actually make your car less aerodynamic and thus, you burn more gas. Instead, crank up the A/C and roll the windows up, especially when taking longer trips. 

Also, believe it or not, but taking a short trip with a car can often eat more gas than a longer trip at highway speeds. So if you can, look at using public transportation or other means for shorter trips, like to the store or work.

Look at More Economical Ways of Travel

For those who have access to public transportation, this can be an easy way to save money on gas. Getting a bus pass or walking to work can be cheaper than driving your vehicle to work. When planning a road trip, you should calculate how much gas you think it will take to get to your destination and compare this to a bus ticket or plane ticket, as it may be cheaper to take a different form of transportation rather than drive.

Get an Extended Warranty

Lastly, getting an extended warranty can help save you thousands of dollars in unexpected repair bills. As cars age, parts fail, leaving you with large repair bills that might not come at the perfect time. An extended warranty helps protect you by offering coverage for various components on your vehicle. These warranties can be purchased in various configurations ranging from coverage for your expensive drivetrain components to comprehensive coverage that offers the same great protection found on your factory warranty. 

How Endurance Can Help You Save

While gas prices are at record highs, knowing a few basic tips to help you save at the pump can add up over time. But while these tips can help you save money on gas, they can also help to keep your vehicle running its best, helping you save in the long run by avoiding repairs from neglected maintenance. But even still, while you can do everything to maintain your car, sometimes parts fail without warning, leaving you with an unexpected repair bill on top of already expensive gas prices. Instead, get peace of mind when it comes to expensive repairs with the help of a vehicle protection plan from Endurance, including finding a plan that starts as low as just $79 per month.

Or, for even more coverage and savings, our Advantage plan can be a perfect choice. Along with covering expensive repair bills while also helping you save up to $3,500 in yearly maintenance services, including oil and filter changes, engine diagnostic exams, tire rotations, and much more at no additional charge. But that’s not all, as Advantage customers will also receive several one-time services like cooling system maintenance, a battery replacement and more.

Don’t wait until you’re stuck with an expensive repair bill; protect your vehicle today by requesting your free, no-obligation quote. Or call the Endurance customer care team at (800) 253-8203 to learn more about how Endurance can help you save. And don’t forget to check out even more informative and helpful articles to help you save even more as a car owner, as well as other articles on topics ranging from DIY maintenance how-tos, extended warranties coverage comparisons and much more by visiting the Endurance blog.

Although many vehicles have been paid in full, around 35% of American adults were paying an auto loan back in 2019, with the total debt coming to an eye-watering $1.3 trillion. Combined with the fluctuating costs of new and used cars due to the pandemic and various supply chain issues at dealerships across the country, if you needed a car, you may have paid a lot more than you were expecting.

As car lenders continue to make eligibility criteria easier to meet, the loan terms are also increasing, with some stretching as long as 96 months. No one wants to lose a chunk of every paycheck for 8 years, so what can you do to pay off your car loan early and get extra money back into your pockets?  

We’ve got all the advice you need to learn how to pay off your car loan faster. Follow our tips and tricks, and you can say goodbye to those pesky repayments.  

8 Ways to Pay Off Your Car Loan Faster

Paying down the loan balance for any vehicle can help you gain peace of mind and put money back in your pockets over time. What used to go towards your car loan can now go towards credit cards that need to be paid down or towards routine maintenance to keep you on the road longer. 

Here are 8 tips you can implement today to help you pay less in loan interest and pay off your car loan.

1. Switch to Bi-Weekly Payments

Bi-weekly payments help lower the interest you pay over time, especially if you’ve recently purchased a new car and are looking to improve your credit score. In general, making extra payments helps bring down your remaining balance on any loan, whether an auto or personal loan, so if you can, it’s best to set up a budget to see where you can save on expenses while adding more towards your monthly car payment. 

Also, check the terms and conditions of your agreement to ensure there are no prepayment penalties and there’s an option to make additional payments. While making additional payments may seem costlier now, you’ll pay less interest in the long run.  

2. Round-Up Your Payments

An easy way to get rid of your loan faster is by rounding up your repayments to the nearest $50. Say you took out a $15,000 loan with a 4.6% APR over 60 months. Your monthly repayments would be $279.03 per month, costing you $1,741.82 in interest.  

By increasing this to $300 per month, you’d drastically cut the life of the loan, as you’d pay off your loan in 56 months—almost half a year faster. Plus, you’d have saved around $145.08 in interest. This could go towards credit card debt or towards paying off the cost of an extended warranty.

3. Try Snowballing Payments

The snowball effect is a repayment strategy where you direct as much money as possible at either your smallest or highest-interest debt until it’s paid off. When you’re done with that one, you move on to the next until you are debt-free.  

This method can be effective, as you quickly plug the holes in your finances rather than spreading your income across several debts and paying more interest for longer. The key to getting this right is to stay disciplined with repayments and not take out any more loans while others are outstanding.  

4. Make at Least One Large Payment Over the Term

If you’re struggling with any of the above, one large lump sum payment a year will still positively affect your term time and interest owed. The sooner you can make that big deposit land, the sooner that sweet debt freedom will be in reach.  

5. Refinance Your Loan

Just like you can negotiate a better car price, you can negotiate the term of your loan and a lower interest rate on your loan. Speak to your loan provider and see if you can arrange a lower monthly payment or a shorter term. Even better, try to ask for both. However, don’t refinance if you’re only allowed to lower your monthly repayments and increase your term. This will mean more time in debt and more money wasted on interest. 

6. Don’t Skip Payments

Some auto loan providers allow you to skip a payment or two each year but don’t be tempted. Interest still accumulates during this time, so all you’re doing adds time to your term and increases the amount you owe to the lender.  

You avoid additional interest and late fees by never skipping a loan payment. You can apply this to student loans or any current loan amount. 

7. Reduce Extra Expenses Where You Can

Saying you should try to increase the size of your payments is all well and good, but where’s that money supposed to come from? You could get a second job, maybe even use your car to make some extra cash as a rideshare or delivery driver, but it’s much easier to work with what you’ve got.  

When owning a vehicle, you must insure it and carry out any necessary maintenance or repairs to help keep it running. Luckily, while automaker warranty coverages and those from other third-party providers can help you with unexpected repairs, only the Advantage auto protection plan from Endurance can give you award-winning breakdown protection AND up to $3,500 in routine maintenance. As one of the most comprehensive plans on the market, you can save the cost of breakdowns and repairs, along with essential maintenance services like oil changes, tire rotations, alignment checks and more.   

8. Take Out an Extended Warranty on Your Vehicle

Investing in an extended car warranty (also known as a vehicle service contract when coming from a third-party provider) is a great way to cut back on spending, especially if you own an older, high-mileage vehicle that’s past its factory warranty coverage. 

You’ll be covered against sudden breakdowns and repairs with an Endurance auto protection plan. Some plans, like Advantage, can even help you save up to $3,500 on yearly maintenance services along with several special, one-time-only services like a battery replacement and more. 

Plus, regardless of your Endurance plan, you’ll get complimentary 24/7 roadside assistance and towing, rental car reimbursement and trip interruption coverage. You’ll also be automatically eligible for a full year of Endurance Elite Benefits, including even more perks and savings like collision discounts, tire replacements or repairs, and more.

Save Even More with Endurance Warranty

Extended car warranties are designed to save you money, but when you use those savings to bump up your loan repayments, you pay it off much sooner and save on interest too. So whether you have basic powertrain protection starting as low as $79 a month or near factory-like coverage for almost every single part of your vehicle, Endurance has you covered. 

Best of all, every Endurance protection plan includes 24/7 roadside assistance and other benefits FOR FREE, giving you even more peace of mind. But, believe it or not, that’s still not it, as every new Endurance customer is also eligible for an entire year’s worth of Endurance Elite Benefits, including even more perks and savings, like tire coverage, collision discounts and more. So even if the worst happens, you never have to worry about your wallet.  

Request a free, no-obligation quote in minutes, or call our award-winning customer care specialists at (800) 253-8203. And don’t forget to head to the Endurance blog to find even more helpful tips on everything from vehicle maintenance to finding the right warranty coverage, car buying tips and tricks, and much more.

Having breakdown protection in addition to auto insurance is one way to save on repair-related costs, but there are other ways to save money. 

10 Ways to Save Money on Auto Expenses

Tip 1: Get the Right Tires

Potential savings per year: $140-400

Having the right tires fitted on your vehicle can improve overall fuel economy, giving you up to 10% more mileage per year. Consider your vehicle’s options and look for a low-resistance, high-traction model with an excellent durability rating. Once they’re on, regularly check your tire pressure to ensure they’re not under or over-inflated.

For every pound of under-inflation, you can lose up to 6% of gasoline mileage, which can result in you paying more if gas prices are high. Having them aligned and rotated can also keep your tires healthier longer since this helps them wear evenly, then you’re less likely to experience a sudden blowout. 

Tip 2: Use the Recommended Gasoline

Potential savings per year: $200-400

You may think treating your pride and joy to that extra-expensive premium fuel improve performance, but the truth is most vehicles see only a small marginal benefit. 

If your car has a high-performance engine, and your manufacturer recommends a high-octane gas in your owner’s manual, then that’s a situation where premium gasoline makes sense. But if not, the extra spend of 15% more is something you could probably go without. 

Tip 3: Drive Responsibly

Potential savings per year: $100+

By abiding by the laws of the road, you avoid all kinds of unwanted costs. If you get into an accident, then not only do you have to pay your deductible, but your car insurance premium goes up for the foreseeable future.

Tip 4: Avoid Hard Braking and Speeding

Potential savings per year: $300+

When you accelerate aggressively, it puts unnecessary strain on your vehicle that can double your gas consumption. You use up to 30% more gas driving at 70mph than you do at 50mph, so don’t go faster than you need to.

Slowing down and speeding up is another gas-guzzling habit that should be avoided wherever possible. A quick tip would be anticipating stoplights and coasting towards them, rather than hitting them at full speed and slamming on the breaks. You can also look into signing up for a defensive driving course to improve your driving habits.

Tip 5: Keep Your Insurance Premium Low

Potential savings per year: $300-500

Auto insurance can be a huge annual expense, but there are ways to make it more manageable. For starters, don’t go for the first insurance contract you find. Every insurer looks at different factors—your age, your vehicle, where you live, your credit score—with each focusing on some more than others.

Compare several insurance rates and shop around for the best price. For drivers with a good track record, increasing your deductible can reduce your premium by up to 30%. It’s also worth looking into any discounts your provider offers, like discounts for car safety features or the Good Student Discount.

Tip 6: Carpool When Possible

Potential savings per year: $400-700

Using a Commuter Cost Calculator, you can see a 20-mile round-trip commute could set you back somewhere in the region of $540 a year. Bring one other person along for the ride, and you save $270. 

Add another person into the mix, and you save $360. Even better, if you aren’t the one to do the driving every day, you’ll reduce the wear and tear on your vehicle and ultimately save on maintenance costs. Sharing is a money-saving form of caring!

Tip 7: Do Some of the Maintenance Yourself

Potential savings per year: $50-300

The best way to prevent repair costs is to prevent repairs, and regular maintenance is the only solution. Some things are easy enough to do by yourself if you know what you’re doing, but if not, try to find 3-4 options for when you need your vehicle serviced. 

Check coolant, brake, and clutch fluid levels regularly, get an oil change, and regularly check your air filter. Even changing fuses, headlights, and spark plugs are easier than you’d think. Doing so will protect your engine and avoid unwanted bills further down the line. Just be careful to triple check the terms of your contract to make sure you don’t void your warranty.

Tip 8: Get Professional Tune-ups

Potential savings per year: $500-3,000

As vehicle-savvy as you may be, you can’t do everything yourself. It’s essential that professional looks under the hood now and then to keep things in check. With a comprehensive coverage plan like EnduranceAdvantage, you can be sure your new or used car is always in top condition—and much less likely to break down. 

A poorly tuned vehicle also guzzles more fuel economy, adding to that already hefty list of expenses. The price of an extended warranty is much less than the repairs it protects you (and your wallet) from, especially if it includes maintenance. 

Tip 9: Do Your Research Before You Buy an Extended Warranty

Potential savings per year: $500-1,000

If you’re looking to buy a new car from a local dealership, chances are the overall cost may include a factory warranty to help cover any manufacturing error. Although they also provide breakdown protection, they can sometimes cost more than an extended warranty from a third-party provider.

In cases like these, take some time to research various options to see which fits your needs and budget. You’ll often find that third-party protection plans offer the best value for money since they include reliable breakdown protection and everyday driving benefits like Endurance Elite.

Save Thousands on Car Costs with Endurance

While these money-saving tips are designed to keep your car expenses to a minimum, you can’t avoid them altogether. Car expenses such as repairs can be expensive and significantly increase car ownership cost, so you must have an extended warranty in place for when something eventually goes wrong. 

Every Endurance plan includes 24/7 roadside assistance, trip-interruption costs, and a substitute rental car. If that wasn’t enough, you also get a year’s Endurance Elite membership completely free, opening up a world of amazing everyday driver benefits. Get your online quote now to learn more about their low monthly payments and warranty benefits.

If you currently own a vehicle, you may be able to make meaningful extra income that can help you with budgeting and also teach you some new skills.

How to Make Money With Your Car

There are many options for people looking to make money with their car, and sometimes it seems more are appearing every day. Beyond the ubiquitous Uber and Lyft opportunities, there are also dozens of smaller flexible jobs requiring a vehicle that you can take part in.

These jobs are easy to fit in even if you have a full-time role because they allow workers to make their own hours and work when convenient. They also allow for weekly or in some cases daily payouts, which can really help when money is tight. Being able to access earnings faster helps many workers who are on tight budgets keep up with their bills. 

These are just a few of the most reliable money-making opportunities you can do if you have a qualifying personal vehicle. 

1. Rideshare—Many are turning to rideshare services like Lyft and Uber during the pandemic. With a mask and proper sanitization, taking rideshare is considered safer than public transportation since there are fewer people, it’s easier to distance, and there are fewer shared surfaces. Pandemic or not, rideshare services provide a convenient and flexible job for unemployed and underemployed people. Both rideshare companies are also well known for offering bonuses and surge pricing during busy times of day, so drivers who are able to participate have a chance at more earnings. 
2. Food delivery—Immediate food services like UberEats, DoorDash, and GrubHub have helped many car owners make a living with very little human interaction. Many apps allow for contactless drop-off, or contact is incredibly minimal. This type of gig work is also flexible, and apps often have special bonus periods or surge periods that can double or even triple earnings if drivers participate.
3. Grocery delivery—Apps like Instacart make it easy to get started delivering groceries in your neighborhood. You will be helping people who cannot leave home due to health concerns, childcare issues, and more. The app has an option for tipping, and also gives shoppers and delivery drivers opportunities to earn bonuses for referrals and five-star reviews.
4. Package delivery—Essential workers for FedEx and UPS have been delivering packages throughout the pandemic and well before it, but did you know that both companies offer flexible, part-time work using your own vehicle? Retail giant Amazon also has flex drivers to deliver packages using their own vehicle, and big delivery giants like FedEx and UPS also hire workers to use their own car, with mileage reimbursement: 
5. Renting your car out—If you don’t need your car day-to-day, you can make money renting it out via services like HyreCar or Turo. These platforms allow you to rent your vehicle to another person, who can use it for rideshare or personal use. You can also cash out your earnings easily via these services.

Things to Consider Before Using Your Car to Make More Money

Starting a side job using your personal vehicle isn’t something people do on a whim. Make sure to consider the possible costs, and if they outweigh the benefits. There are risks to doing this type of gig work, and it’s important to be aware of them before starting.

1. Safety precautions—Choose the times of day and areas where you feel comfortable driving. Plus, Uber and Lyft annually release safety reports to ensure drivers like yourself are well-informed on current events. Some drivers prefer to drive during the day to avoid inebriated passengers in the late evening/early morning. 
2. Pay out of pocket expenses—In some cases, your insurance costs may increase. Some insurance providers refuse to cover rideshare drivers as well, so research on your own before committing. Other expenses include increased gas purchases, cleaning supplies, and more. For example, if someone is sick in your vehicle, you will likely have to pay out of pocket for cleaning and wait for reimbursement.
3. Onboarding tasks—Some gig workers may be surprised by the number of tasks required prior to driving. Before driving rideshare, an inspection is required. Even if you’re not planning to drive Uber or Lyft, it may be a good idea to have an inspection or check-up done on your car. Take care of general maintenance tasks like oil changes, to prevent additional wear and tear. Other tasks you may need to complete include a background check, and providing proof of car insurance.
4. Taxes—For those who have never been self-employed or worked a 1099 contracting job before, it may be difficult to understand taxes and write-offs for this type of work. The IRS has plenty of information on what you can and cannot write off, and anyone interested should check out that information before starting work, so they keep any records and receipts they may need.

Endurance Warranty Provides Comprehensive Coverage

Endurance extended warranties provide access to many great perks and benefits. An extended vehicle warranty helps save money on costly car repairs, which can offset the financial burden of breakdowns. Now that you’re relying on your vehicle for income, this is especially important. The warranty plan includes things like key fob replacement and reimbursement for repairs and maintenance.

Endurance Warranty holders also have access to Endurance Elite benefits which comes with $250 in reward vouchers, key fob replacement, tire replacement/repair, and more. This membership also includes perks like 24/7 roadside assistance, which can come in handy if you break down during a shift. The assistance program will send a tow truck or repair tech out to assist you anywhere you are. 

If you need a rental because of a breakdown covered by your warranty, Endurance will reimburse you for any rental car fees or public transportation costs.

Endurance Warranty also provides trip interruption coverage, so you can get funds for lodging and food if your car breaks down more than 100 miles from home. 

Frequently Asked Questions: Making Money With Your Car

How can I make money with my personal car?

You can make money from your personal car by using it for rideshare, food delivery, package delivery, or renting it out entirely. Many people work for multiple apps in order to maximize their earnings, which you can also do if you desire. Check Facebook for rideshare and gig workgroups in your area. Many rideshare and gig workers share tips and tricks in these groups, and they will be able to answer specific questions about work in your area.

What driving app pays the most? 

This is variable depending on your market and the time of year. A Lyft or Uber drive in a highly populated city without widespread public transit will make more, but a food delivery driver in a densely populated urban area may make even more if orders are frequent enough. There are also busy days and nights such as Halloween, New Year’s Eve, and more. 

Talk to other drivers in your area and check third-party online resources like The Rideshare Guy for unbiased information. Also, pay attention to promotions in the app for drivers and surge pricing. Many times, there will be opportunities to earn more if drivers complete tasks according to certain criteria or participate in high-volume challenges.

Is there extended warranty protection for Rideshare drivers?

Learn more about your options by requesting a no-obligation quote below. With tons of options available, our team can help you find the perfect extended warranty plan to help you get back on the road in no time.

Many count on their tax refund as an essential part of their income and use it to make larger purchases or pay down debts. Investing in your car is always the right choice, primarily if you rely on it for work.

Why you should invest your tax refund in auto protection

If you haven’t purchased an auto warranty or roadside assistance plan, now is a great time and here’s why: 

1. Winter is coming – No, not like in Game of Thrones, but it’s going to be here faster than we think. Even if you rely on public transit now, when it’s colder, you might not be so excited to do so. Plus, winter can be tough on cars, and investing in a warranty program might help cut back on the expense of future repairs. 
2. Commuting is making a comeback: If you’ve been working at home during the quarantine, you may not be driving a lot. But when businesses start opening up again, and people return to the office, you may need your more than ever. More driving can mean more potential for repairs, so investing now is a good step to prepare.
3. Discounts and deals – All Endurance customers get access to the Digital Vehicle Rewards portal, which includes discounts on local restaurants and businesses. You will also receive $250 in digital shopping dollars to use towards these deals when you sign up for a warranty. You can shop for electronics, gift cards, and more on www.mydigitalvehiclerewards.com. 
4. Roadside assistance – Roadside assistance can be a lifesaver, especially if you’re still worried about health concerns. If you’re lost, you can call and have a trusted technician sent to assist you with a flat tire, lockout, dead battery, and more.
5. Special offers – Many companies offer special offers during the tax refund season because they know people consider larger purchases due to the extra cash on hand. Endurance is currently offering relief programs to help get America back on the road again. Take care of payment now, and take advantage of the deal. Then you will have coverage for the next several months taken care of.

If you’re concerned about budgeting for an auto warranty, Endurance offers payment plans and other considerations for warranty holders to meet payments without hardship. 

Protect Yourself with Endurance

Investing in auto protection can help you gain peace of mind during this time. Car repairs can cost anywhere between $50 to over $2,000, depending on the part.

Endurance offers the most comprehensive package on the market that can help get you back on the road. Plus, customers gain 1-year access to the Endurance Elite Membership for FREE. Elite offers $250 in digital shopping dollars that can be redeemed on big brands like Nike and Amazon, plus car key fob and tire replacement. 

For more information on all the fantastic benefits that come with an Endurance Warranty, request a no-obligation quote below.

Shop Around and Compare

Because insurance varies from company to company, there is an option that is suitable for everyone despite budget and utility. We recommend that you get three quotes before purchasing that way you have the opportunity to compare not only the prices but the plan that will offer you the service you are looking for in a company.

Ask Questions

When talking to an insurer always be sure to ask as many educated questions as possible that way, you can make an informed decision after comparing to other companies and types of insurance. There is nothing worse than buying insurance and then realizing that you are not getting something that you assumed would be included, because you were too scared to ask.

Want to Save THOUSANDS on Auto Repairs? Get Endurance!
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Increase Deductible

If you raise the amount that the company doesn’t cover, you can save a lot more on premium costs, but this is something you will want to discuss specifically with the company.

Maintain Good Credit

Many people underestimate how crucial good credit is for an insurance company and deciding how much they are going to charge. Along with your driving record, credit is essential, so make sure that all payments are made on time. If you are looking to improve your credit score, you can do so by keeping balances less than limits allow.

Drive Safely

You can expect your insurance to go up sufficiently if you get into a lot of car accidents or get traffic tickets. The best way to avoid this is by keeping these violations off your record and driving safely on the road!

The truth of the matter is that most car thefts don’t involve the crew of a Hollywood blockbuster chasing after the most exotic cars or classics. Nope. In fact, more often than not, the cars that are stolen tend to be late-model, mid-priced cars like a Toyota Camry, Nissan Altima, or GMC Sierra and the like. These cars are stolen more or less for having a few easily-removable parts that can be sold for more than the actual cars themselves.

What Thieves Really Want- Selling Scraps

Earlier this month we saw the National Insurance Crime Bureau, touted as “the nation’s premier not-for-profit organization dedicated exclusively to fighting insurance fraud and crime,” published a report. In their report they highlighted exactly how those easily accessible components are worth more than the market value of the car(s) they were taken from. These components are expensive to replace and often rather physically large.

Since this is, as you guessed it, a very illegal thing to do, there’s no real way to track how much a whole car goes for if it was stolen. There’s lots of forged paperwork and other shady activities to consider. That is why thieves don’t do that as much anymore. While it is tempting to think that only “nice” more pricey vehicles are the more typical targets the scary truth is that it could be any car. Any car that looks like it is well kept is a potential target for parts-stealers. It’s easier to sell a near-mint engine component that can be used on dozens of other cars than it is to sell any one of those cars. And at a time when people in general are more likely to pay for repair and replacement of their cars than getting a new car, crooks take advantage.

What’s of Value in the Chop Shop? How the Math Works Out

In the NICB report, they used the example of a 2016 Toyota Camry. That Camry is only worth about $15,000 stolen. NICB looked at the street price for the components. The doors alone are worth $3,027, while the wheels are $1,642, the hood and trunk are $1,251 and headlights are $575 a pair. Altogether if those parts are stolen they can be sold for between $10,000 and $15,438.

It’s quite fascinating because conventional wisdom suggests that it’s more than a little counterintuitive to see a car make more money in pieces than a functional vehicle.

The key is to remember that part prices are archived in databases of over 24 million vehicle damage appraisals generated for insurance claims. The reason for that is because criminal car part slingers will not be able to get even remotely the same premium price that a dealership or even a body shop would charge consumers for any of these things.

Another point is that according to Autoblog, the US has seen a 7.6 percent increase in auto thefts in 2016 which rose an additional 4 percent in 2017. However, the trend of car theft is still down from the 1991 peak according to the FBI’s official publicly available report. So it’s not necessarily an airtight belief that “rising parts costs equal more car theft.”

The Top Ten Most Stolen Cars in the United States

While many think that stolen luxury vehicles or expensive exotic cars would dominate the list of the most commonly stolen cars in the United States, but in actuality, your mom’s old Toyota Camry that you drove in college is a much more prime target. But as we already discussed, that’s because chop shops can easily flip the parts for fast cash. But the National Insurance Crime Bureau (NICB) in Des Plaines, Ill. states that the following ten vehicles are the most commonly heisted in the nation. Gives a whole new meaning to the term “hot wheels” doesn’t it?

1. Honda Accord (1997), 50,427 stolen
2. Honda Civic (1998), 49,547
3. Ford F-Series Pickup (2006), 32,721
4. Chevrolet Silverado Pickup (2004), 31,238
5. Toyota Camry (2016), 16,732
6. Nissan Altima (2015), 12,221
7. Ram Pickup (2001), 12,128
8. Toyota Corolla (2015), 11,989
9. Chevrolet Impala (2008), 9,749
10. Jeep Cherokee/Grand Cherokee (2000), 9,245

At the end of the day it’s is an interesting thing to look as how valuable the components to a car are as opposed to the actual car itself. That’s part of the cost of ownership. That’s why insurance and vehicle service providers are so important to keeping your car affordable even if you already paid it off. Also of not is that no coverage provider is likely to work with non ASE-Certified shop. Those shops are a promise that every tool and component they use was legally sourced and obtained whether they came from the original manufacturer or “aftermarket.” Even still, it never hurts to just do your research. Just be safe out there.

Since they were first conceived, automobile airbags have been made and positioned to protect your head, neck, and chest, sometimes your body, in the event of a serious impact. We’ve seen all sorts of new innovations, some now are positioned to protect your lower body and sides. The Korean automaker is upping the ante again this time with the creation of a panorama sunroof airbag system.

Hyundai and Hyundai Mobis

Hyundai kicked off January 2018 with the proud announcement that they have successfully made a panorama airbag system made to prevent and reduce injuries that come from being thrown out of the roof of a car during an accident. This was developed in conjunction with Hyundai’s parts supplier, Hyundai Mobis.

First a little backstory, Hyundai Mobis was first established in 1977. It is in fact a global tier-1 automotive supplier. Fast forward to 2002 and Mobis began mass-producing their own car airbags (which makes them a competitor with Takata). Ever since that time they’ve gone on to help develop all sorts of new and cutting edge airbag technologies. It was Mobis who invented a fourth-generation advanced airbag and inter-passenger airbag. That is what makes the panorama sunroof airbag system a significant achievement in keeping with Mobis’ reputation.

How Does the Hyundai Panoramic Sunroof Airbag Work?

The panorama sunroof airbag system is a unique feature and the only one of its kind on a road car so far. Sunroofs are a convenience, steadily becoming standard but what they do is allow passengers in the rear inside to enjoy a bit of an open view. Hyundai’s is especially made from a uniquely tempered glass. That glass can expand in order to create a feeling of more openness.

That brings us to the airbag. The panorama sunroof airbag system exists inside the sunroof. The way it works is that it comes deployed forward all the way from the rear of the car. It is remarkably similar to the curtain airbag system that comes deployed on the sides of the cars. The sunroof airbags don’t always activate. It is only in cases where the turning angle of the vehicle is changed due to a rollover accident. A unique sensor system can detect the rollover and then the airbag is deployed. The cushion is rapidly deployed by gas and actually covers the entire surface of the roof. It only takes 0.08 seconds for it to be fully deployed and protect the vehicle passengers.

Hyundai Innovation

The automakers are particularly proud to emphasize the complexity of their panorama sunroof airbag system. They claim that it’s even more complex than majority of existing airbag systems. That is probably due to the fact that the airbag system is designed to fit in an extremely compact space. It is even capable of deployment when the sunroof is fully closed as well. In those instances the airbag system opens up in between the sunroof glass and the sunshade.

While overhead airbags already exist those were put together to replace traditional dashboard airbags. Overhead airbags are meant to protect you from front impacts. An example of this would be Citroen’s C4 Cactus car. It comes standard with overhead airbags. Those airbags were created by the Michigan-based company: TRW Automotive. The way they work is that the roof airbag actually reduces space in the front dashboard (passenger side). That allows car designers to toy around with how to utilize that extra space.

Speaking to TRW, they are the ones who made the exterior airbags we first got a glimpse at more than two years ago. Apparently those will be in production in time for the 2020 model year.

Hyundai has not yet announced an official date for when they will be installing this innovative new airbag system. However we expect the high-end Genesis sedan is the most viable candidate for the upgrade.