Driving on Less

While we've been watching the stock market on its wild ride up and down, we've also seen the price of gas fluxuate. Unfortunately, the market has been going down while the cost of gasoline has - until very recently - been going way up.

We live in a big urban area and are lucky to have a commuter train almost on our doorstep. Public transportation is the best antidote to high gas prices...if it's available. But most of us can't give up our cars. So, we need to learn how to cut the cost of transportation as we hit the road.

Here are a few tips for cutting automotive expenses:

* When purchasing a new car, do online research on prices and options. Before buying, check prices with four or five dealers. One may be anxious to make a deal, and you can save hundreds of dollars.
* Unless a car dealer is offering special low rate financing, don’t jump at dealership financing plans. You are buying a financial service (a loan) as well as a car. Shop for both.
* When buying a car consider the total cost, including insurance, gas, and maintenance. For details, check out the “Consumer Reports” new car guide at the public library.
* Trading in a car for a new one every three or four years is very expensive. Keep your car well maintained and drive it for as long as you can. Once car payments are finished, set aside that monthly payment in a savings account.
* Consider buying a certified pre-owned car instead of a new one.
* Be an informed consumer. When trading in a car or buying a used car, look up the “blue book” value of the car.
Have a mechanic check out a used car before you buy it.
* For older cars, consider dropping collision and/or comprehensive insurance coverage altogether. Paying an extra $250 to protect something worth just $1,000 doesn't make sense.
* Some companies offer discounts to drivers who have three or more years without an accident or moving violation. See if you qualify.
* In some cases, an insurance company may offer a multi-policy discount if a consumer purchases both auto and homeowners coverage.
* Ask about discounts for cars equipped with safety features, such as anti-lock brakes, anti-theft devices and automatic seat belts.
* If you stop commuting by car, you may qualify for a low-mileage discount on your auto insurance.
* Before renting a car and paying excessive insurance fees, ask your insurance agent if your auto policy extends to rental cars. Some credit cards also provide car rental insurance coverage, if you use the card for the rental.
* If you have a young driver on your auto insurance policy who is away at school, ask your agent if you can get a reduced premium because your child is away for most of the year.
* Drivers over the age of 50, who tend to be more cautious than younger drivers, may be eligible for reduced rates.
* Use low octane gasoline unless the manufacturer recommends otherwise
* Properly inflated tires give you better gas mileage.
* Driving the speed limit uses less gas.

As for stress management behind the wheel, the next time you're sitting at a red light, instead of feeling annoyed at the delay, be grateful for the pause. Take a big, deep belly breath or two, relax your jaw muscles and let yourself "rest" in the moment.