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Are Your Driving Mistakes Costing You Money?

  • August 1, 2020

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driving mistakes costing money

Are your driving mistakes costing you money?

Out of all of your assets and running costs, your car, and how you drive it are some of the most impactful. Not only is it likely to be one of the most valuable things that you own, but you’re also paying off the fuel prices, maintenance, and perhaps still paying off the loan you took for it. As such, you don’t want to use your car in any way that further grows your expenses, but here are some ways that silly driving mistakes could do just that.

Watching your maintenance costs go up

First of all, if you don’t take care of how you drive, you are more likely to damage your car. Not only can accidents result in obvious repair costs, but even bad driving habits like accelerating or braking too fast can cause more wear to your tires, your engine, and your brake pads. This means you are going to more regularly have to replace and fix certain parts of your car. Drive in a way that keeps your car going for longer.

Related to cars and money: 3 Ways To Reduce Car Expenses This Year

The cost of accidents

If you’re the wronged party in an accident, then your foremost thought might be that you want to make sure you get the money you’re entitled to in order to cover your costs. But what if bad driving habits make it more likely that you’re going to be the one paying out, instead, be it through insurance or through legal action? Taking defensive driving courses can help you be a lot more mindful of the road around you and ready to react to dangerous situations so this is less likely to happen to you.

Legal trouble can be expensive, too

The reasons that you should avoid driving recklessly or driving under any kind of influence should be clear enough for all drivers. However, the legal trouble you can get into should be the final nail that gets it into your head. Not all charges you might get while driving will be entirely fair, and teams like Takakjian & Sitkoff, LLP can help you stand up for your rights when that is the case. Otherwise, however, it’s better to make sure that you’re never in danger of being pulled over by the cops for how you drive. From tickets to legal costs, it can be expensive.

Watch out for those insurance costs

Your insurance provider will capture whatever data they can to get a better idea of how much risk is involved in insuring you. The riskier you are, the more you can expect to pay them. Past accidents and legal troubles can affect your auto insurance, but you can also take steps to reduce it by showing that you are, in fact, a reliable driver. Going for a black box deal that tracks your driving performance using telematics technology like ABL Group is one example.

Conclusion: Driving Mistakes Costing You Money?

Your role as a safe and responsible driver is essential for so many reasons. However, if you need another, then consider how it affects your finances. Have a plan for the situations above, but try to actively avoid getting into them in the first place.