Tuesday, February 19, 2013

Watch Your Mileage – It Could Cost You Big

It is true that driving gives you a lot of freedom. You can take a road trip with the family, visit the cottage on the weekends and get around faster.

Some consumers avoid leasing vehicles because of kilometre restrictions and choose to finance their vehicles instead. This way they are free to use their vehicle however they choose to. This raises the question, “why do leasing companies” care about the mileage you use?” There is an easy answer to this question.

High vehicle mileage significantly reduces the value of the vehicle and here is how:

· The vehicle will require more repairs
· The vehicle will require more maintenance
· The life of the vehicle is reduced for each additional kilometre driven

So how does one enjoy life without running up the mileage on their vehicle? Here are some ideas that you can use to save your mileage.

1. If you are going away, try renting a vehicle. Many car rental agencies offer unlimited mileage. Also if you check with your insurance, some policies cover insurance on car rentals, so you won’t have to pay the car rental company additional insurance. Some car rental companies will rent a compact sedan for as little as $40 per/day.

2. Try using transit to get to work. You can save not only your mileage, but also gas and parking by doing this.

3. If you can’t get your head around using transit. Talk to your co-workers and see if there are any opportunities to car pool. Then you can fly to work, taking advantage of HOV (aka carpooling) lanes.

Finally, don’t buy a vehicle that already has high mileage. Prudent Value Cars only sells low mileage vehicles and offers flexible financing and will even negotiate your car loan terms so that the term is consistent with the mileage you drive. This ensures that you finish your car loan with a vehicle that still has value. For more information visit www.prudentvaluecars.com.

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