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How to Recession-Proof Your Car
Here are tips to help you save money on your car if you're worried about a recession.
Whitney Vandiver Writer | Home services, Home warranties
Whitney Vandiver writes for NerdWallet, currently focusing on home services, and has been published in the The Washington Post, the Los Angeles Times, The Seattle Times and The Independent. When she's not writing, she enjoys reading with a good cup of coffee and spending time with her husband and son. She is based in Houston.
Julie Myhre-Nunes Assigning Editor | Auto loans, consumer credit
Julie Myhre-Nunes helps lead auto loans and cars coverage at NerdWallet. She has been in the personal finance space for more than 10 years. Before joining NerdWallet, Julie oversaw editorial teams at NextAdvisor and Red Ventures. Her personal finance insight has been featured on Forbes, The Boston Globe and CNBC. Julie’s writing has been published by USA Today, Business Insider and Wired Insights, among others. Email: [email protected].
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
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Nothing spurs a closer look at your budget like fear of a recession — and for many Americans, cars eat up a big chunk of their funds. According to AAA, the average American will pay $1,062 more in 2022 to own and operate a new car than they did in 2021. These expenses include gas, maintenance, insurance and tire costs.
But just because the cost of owning a car is rising doesn’t mean you have to pay more out of pocket. Here are some tips to recession-proof your car to save on every drive.
Pay less for auto insurance
Combine your auto and home insurance coverage. Bundling insurance policies often saves you money on your premiums. While the discount varies from one provider to the next, you could save as much as 20%, according to a 2022 Progressive survey.
Ask about discounts. Some insurance providers offer discounts, and not all of them relate to driving. Examples include being claims-free, low annual mileage and even good grades for younger drivers. Talk with your provider to see if you qualify for any discounts.
🤓Nerdy Tip
Some insurers will work with you to allow different forms of proof of qualification for a discount. For example, you might be able to show standardized test scores for home-schooled dependents to receive a discount for good grades.
Consider a higher deductible. It’s common for monthly premiums to go down as the deductible goes up. Do the math to see if raising your deductible by $250 or $500 would save you money each month. Remember that you’ll need to pay toward your deductible if your car is damaged and your insurer is covering the repairs.
Get quotes from other insurers. A different company might be able to provide you with the same coverage for less money. Shop around for auto insurance to see what rates you qualify for, especially if your current insurer has raised your rates over the past few years.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Know what’s covered by your warranty. If your vehicle is under warranty, educate yourself on what’s covered to avoid paying out of pocket for maintenance or work that should be free.
🤓Nerdy Tip
You're legally allowed to have non-dealership auto shops perform maintenance on your vehicle without endangering your warranty coverage. But you’ll need to use an authorized shop — ask your dealership for a list — to have the warranty cover the cost.
Get quotes on any maintenance or repair work. Don’t go with the first quote from the closest auto shop if you’re not certain it’s a good deal. Shop around to see if a different auto shop can do good work at a better price. And ask to see an itemized estimate before letting an auto shop begin work.
Do simpler maintenance yourself. If you’re up for it, consider doing some car maintenance on your own. A quick search of YouTube or TikTok can turn up videos to explain how to safely do things like change the oil, change a tire or swap out air filters.
Buy approved aftermarket parts. Aftermarket parts are made and sold by a company other than the manufacturer of your car. They're often cheaper than original manufacturer equipment. If they're approved replacement parts, they usually won’t affect your warranty. However, if they're not approved, aftermarket parts could void your warranty, which can cost you more later on. So do your research first to find approved parts.
Buy your own parts. Some auto shops will let you purchase your own replacement parts to save on the markup you'd pay if purchasing straight from them. However, not all shops allow this, and providing your own parts usually means the auto shop won't warranty the replacement parts.
Reduce the cost of driving
Obey the law. Tickets are one of the fastest ways to increase the cost of driving a car. And traffic violations can cause your insurance provider to raise your rates. Watch your speed, use your blinkers and avoid parking in loading zones to minimize your chances of having to pay a fine.
Watch your fuel usage. Driving habits like revving your engine, slamming on the brakes and idling for extended periods of time will burn up gas more quickly. Look for ways to reduce your gas consumption, such as using cruise control, to save money.
Find ways to save on gas. You can employ several strategies to save money on gasoline, including searching for the lowest prices in your area with an app, using rewards credit cards and paying with cash to get a discounted price.
See what you could save on car insurance
Easily compare personalized rates to see how much switching car insurance could save you.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.