4 Ways Safe Driving Can Really Pay Off
Whether it’s your first time purchasing a vehicle, or you’re a seasoned pro on the car lot, one thing is clear: anything you can do to lower the costs of operating your vehicle will make it easier to afford the car loan payment over the long haul. From deciding to choose the right vehicle in the first place to doing whatever you can to lower your auto insurance premium, there are many steps you can take to lower the cost of owning your vehicle.
We’d like to add another point to that list, though it’s one you should practice all the time anyway: driving safely. Of course exercising caution on the road can make sure you, your family and your fellow drivers can all reach their destinations in one piece, but safe driving can actually save you money too.
Everybody is in a big hurry these days, and speeding is rampant on Ontario highways and freeways. Though it may seem like a good idea at the time, speeding can often be a very poor, costly decision. First of all, speeding burns gas faster than driving at or below the speed limit. A lot faster. In fact, driving at 130 km/h burns 12% more gas than driving at the speed limit. With constant braking and traffic slowdowns, you will never make back that money you literally burned with the time you save, so it is absolutely not worth the risk.
What risk, you ask? Why, getting caught, of course! The fines for speeding in Ontario can run up to several hundred dollars for even seemingly “minor” speeding convictions. A $300 speeding ticket can mean the difference between making your car or rent payment one month, or losing your car or your place to live. And that’s just what it costs to pay off the ticket itself; you’ll still have your insurance company to deal with upon renewal. With more than one moving violation within three years, you could be looking at a steep increase in your annual premium. If you have a car payment, especially if you have been able to secure bad credit loans, it will all be for nothing when you can no longer afford to insure that vehicle. Slow down, stop and smell the roses, and save your hard-earned cash!
Properly Maintain Your Vehicle
A properly maintained vehicle is a safe one. Over 10% of car accidents can be attributed to mechanical failure of one or more systems in the vehicle. Brakes fail, gas pedals get stuck, tires blow and steering systems go awry. It seems that mechanical breakdowns are a simple fact of car ownership. However, you can ward off the dangers of serious mechanical failure with regular, routine maintenance. Something as simple as ensuring your tires are properly inflated will save you money with better fuel economy, and help to keep you safe with better vehicle performance. Even a simple visual inspection will help catch things like low or bulging tires or damaged wiper blades. But if you are the type who enjoys getting your hands a little dirty, consider doing some of your own car maintenance. This will allow you to save money on the repairs, and save even more money by keeping a safe vehicle on the road.
Go for Driver Training
If you are a new driver, going for driver training just makes good financial sense. People tend to think of the Driver’s Ed sessions they have seen on TV with a bunch of nervous teenagers running over pylons in the school parking lot. In any driver training centre, you will see people of all ages and from all walks of life. Getting professional instruction when learning how to drive will give you more confidence behind the wheel, thus making you a safer driver. As an added bonus, in Ontario you will save four months of waiting in the graduated licencing process if you complete a ministry-approved driver training program. Still not convinced that the fees for driving lessons will pay off in the longer term? Well, those who have successfully completed driver training enjoy lower insurance rates for three years after the program. A lower chance of accidents and cheaper insurance premiums for three years? Sign me up!
PUT DOWN THE PHONE!!
It’s official, distracted driving is the new plague of our day. Driving while paying more attention to a smart phone than the road has replaced driving under the influence as the number one killer of people on the roads in Ontario. No wonder the police are cracking down! Before you start to pass the time in traffic with a text exchange with a friend, consider that the fines for distracted driving have recently increased, and demerit points apply to even the first offence. Knowing that it could cost $300 to $1,000 to reply to that email while driving should be enough to keep your eyes off the phone, but wait! There’s more!
You can also now have your license suspended for 30 days for distracted driving. Can you imagine having to tell your boss that you can’t come to work – FOR A MONTH – because you were texting with your spouse about dinner plans instead of keeping your eyes on the road? Newer vehicles can be equipped with communications systems that can keep your hands free for driving while carrying on a conversation, and there is a wealth of affordable aftermarket options for your older car. Put down the phone, pay attention to the cars around you, and save your money to spend on those dinner plans with your spouse.
Are you still thinking about making the leap from transit rider to vehicle owner? Think there is no chance you will get a car loan because of your blemished credit history? Be sure to go through our easy online application process. Auto Loan Solutions can help you make that leap quickly and efficiently. Please, just promise us that you will drive that car we help you buy safely. Do you know someone who needs some convincing on the ways safe driving can save money? Share this post with them now!
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