Automobile Expense Calculator Results
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Automobile Expense Calculator will guide you through your auto expense management
A car is probably the most expensive thing that you will pay for after a your home. Owning a car is one thing and maintaining, bearing running cost is another. You might have repaid your auto loan in full but the expenses related to keep an automobile running won't stop here.
There are many other expenses related to an automobile and having an understanding of these expenses is essential, even if you are not on a tight budget. Calculating all those expenses to keep a check on your automobile expense manually is not possible on a daily basis. The Automobile Expense Calculator makes it a cakewalk for you.
Using the Automobile Expense Calculator
The automobile expense calculator designed by iCalculator helps you understand the total sum of money that it will cost to use an automobile over a given period of time. The following total expenses (for the term you want to calculate the automobile expenses) must be entered first into the calculator to get the results:
- Fuel cost - The cost of any fuel (petrol, diesel, CNG, etc.) that you use.
- Accessories - If you generally buy or are planning to buy during this particular term.
- Insurance - Total sum paid or payable for the term in question.
- Maintenance, repairs - Expected total cost for the period.
- Servicing - This cost occurs regularly.
- Lubrication - Any cost related to lubrication of the engine.
- Others - Any other costs, such as tolls, taxes, etc can be entered here.
- Frequency - This can be, weekly, fortnightly, monthly and yearly.
Note: It is not mandatory to fill all the columns. The calculations can be completed for multiple or single components as well.
On the basis of the inputs, the calculator will provide you with the amount of total expense that occurs or the total money it costs to run your automobile for a particular term.
Benefits of using the automobile expense calculator
The automobile expense calculator can be beneficial in several ways:
- The calculator will do all the calculations for you, you just have to enter the correct data, it is online and time saving.
- The results from the calculator will help you make better decisions for your financial budget planning, particularly how much you spend on maintaining your car. This can be particularly useful when comparing the running cost of an old car against a new car when deciding if it is more beneficial to invest in a new car.
- You can choose to calculate the weekly, fortnightly, monthly or yearly according to your needs and circumstances meaning that you can see the costs in line with how you get paid to help balance your budget.
- The results will give you both monthly and yearly expense calculations, so you can compare your expenses on a historical basis and take measures if you feel the need to reduce the expenses.
Ways to save on automobile expenses
There are many ways to save money on your car expenses, let's have a look at some of these methods that can help you save big money:
Save on maintenance cost
- Keep your car properly tuned. A car uses between 25% to 33% more fuel each year if it is poorly tuned.
- Checking a filter on a car every month can cut your cost as a dirty filter reduces the life of the engine as well as causes up to 10% more reduction in fuel mileage.
- Check your tyre pressure regularly. Also balancing the tyres once a year can add thousands of miles to the life of your tyres. Also imbalanced tyres can cause shock absorbers to wear out faster and damage the suspension system.
- Check on the fluids of battery can be helpful in reducing annual costs though most modern batteries are now sealed units so you may need to have a mechanic check this for you.
Save on fuel
Prices of fuel are not negotiable. However, you can save on fuel expenses by:
- Pumping your own gas - This is a 5% to 10% cheaper than the full service.
- Don't top off the tank when pumping case, some of the gas may end up overflowing when it expands in the sun or if you are parked on a hill.
Save on vehicle insurance
- Asking your insurance agent how much money you can save by raising the deductible on your auto collision insurance. You can save up to 10% to 30% on premiums if you have a good driving record.
- If you have good records and do not have many tickets or accidents, you should shop around for better insurance premium.
- Many insurance companies offer discounts if you have not had any accidents or tickets for three consecutive years or more. So, avoiding speeding or other road and safety law violations may save you up to 20% on your insurance premiums.
Managing your automobile expenses can save you big money. This can be done by taking care of small but important things. But the very first thing is to be aware of the expenses in order to reduce them. The calculator gives you a clear picture of your automobile expenses and enables you to take better decisions on how you spend your hard earned money.
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