Did you know that when you buy a new car, the value of the car immediately depreciates when you get it home? By buying a car that is one year old, you will be paying close to what the car is actually worth. Most cars are worth half their value within a two year period. Buying a car with a high residual value may allow you to sell or trade it in for more. A quick google search can help you find your cars residual value. Be cautious and check how much the vehicle costs to insure, even different models have different insurance rates. Maintaining your vehicle for around $50 can save you about $800 a year in repairs. Check your vehicles manual and follow its recommended maintenance schedule. Learning how to change your own oil, antifreeze and filters will save you even more money. Washing your own car can save you as much as $30 a month. Lastly, if you have things in your trunk or backseat, take them out. Items in your trunk or backseat add to the cost of fuel it takes to run your vehicle.

Help share your stories on how you save money on transportation costs. You never realize how often you might just say “why didn’t I think of that?”