Skipping car maintenance might feel like a way to save money, but it often leads to bigger bills later.
A recent blog post on financial expert Suze Orman’s website noted that keeping up with routine service is one of the smartest financial moves you can make this year. Read on to see why preventive care not only protects your vehicle, but keeps it running longer.
1. Routine Service Extends the Life of Your Vehicle
Orman recommended keeping up with car maintenance to extend a vehicle’s life and delay buying a newer one. She pointed out that with today’s high prices and interest rates, new car payments average over $700 a month, and used car loans top $500.
According to Consumer Reports, getting the most life out of your car comes down to consistent maintenance. Following the manufacturer’s service schedule can help a reliable, modern vehicle reach 200,000 miles or more.
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2. Saves on Insurance
Car insurance premiums have climbed in recent years, Orman said. Newer cars usually cost more to insure, so sticking with a reliable older vehicle can help keep your premiums lower, she added.
Because a car depreciates over time, older cars often cost less to insure, according to sites like Progressive. However, premiums still vary based on coverage, location and vehicle type — not age alone.
3. Small Maintenance Costs Can Prevent Major Repair Bills Later
Orman advised against skipping car maintenance because every $1 you avoid spending today can turn into $4 to $10 in repairs (or more) down the road. Examples include: Replacing brake pads, checking coolant levels, regular oil changes, changing air filters and checking spark plugs.
Regular inspections and tune-ups can prevent costly breakdowns — giving you fewer surprises and more peace of mind.
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This article originally appeared on GOBankingRates.com: 3 Reasons Suze Orman Warns Drivers About Skipping Car Maintenance
