Save on insurance, maintenance, and fuel

Negotiating the best deal when you buy a car is just the start when it comes to getting the most miles for your money. Here's how to save on three other big costs.

Minimize insurance cost

Shop around once a year

Even if you end up staying with the same company, you might be able to negotiate a lower rate or qualify for a discount you couldn't get before. If you're driving less, chances are your insurance will cost less.

Drop coverage you don't need

As your car rolls up miles, it might be worth dropping collision and comprehensive coverage, which can account for as much as half of your overall premium. A rule of thumb is to consider dropping it when the premium equals or exceeds 10 percent of the car's book value.

Raise your deductibles

Changing from a $200 to a $500 deductible could reduce your comprehensive and collision premium by as much as 30 percent. But make sure you have enough cash on hand to pay whatever deductible you choose in case you're in an accident.

Take advantage of discounts

Lower rates are often offered to drivers who haven't had any accidents or moving violations in a number of years, those who drive less, and customers who purchase multiple types of insurance, such as home and auto, with the same company. Also look for discounts for safety features (such as antilock brakes or electronic stability control), driver training, or kids with good grades or who are away at college. And fair or not, a good credit record can also lower your rates.

Save on maintenance and repairs

Shop around for regular maintenance

The cost of maintenance can vary dramatically. By making a few phone calls, we found the cost of a 60,000-mile checkup for a 2004 Ford Explorer, for example, varied by more than $250, even among Ford dealers in the same area. We found similar savings for other makes and models in various cities.

Consider using an independent repair shop

You don't have to go to a dealership for service, even when your car is under warranty. A qualified independent shop can perform regular maintenance and repairs without voiding your warranty. Just keep accurate records. In a recent Consumer Reports study, some independents gave us quotes for maintenance that were $150 or more less than those of nearby dealerships. But you will need to go to a dealer for warranty repairs or recall work.

Watch for discounts and specials

Many independents and dealers advertise specials on maintenance, including oil changes and major service. Those discounts can shave more than $150 off the price of regular maintenance.

Perform some maintenance yourself

Consider investing in a service manual for your car and performing some basic service yourself. You can find one at a bookstore or auto-parts store. The money you save on a couple of minor repairs, such as replacing a radiator hose, could pay for the cost of the manual.

Don't overmaintain your car

Be wary of dealers or shops that want to do more than is called for in your owner's manual. It can be a waste of money. Many service shops suggest changing your engine oil every 3,000 miles, for instance. If your manual specifies oil changes at every 5,000 miles or even 7,500 miles for normal driving, there's no benefit to more frequent changes.

Reduce fuel spending

Slow down

That is the most effective way to cut your gasoline consumption. In our testing, reducing speed from 75 to 65 mph in a Toyota Camry increased fuel mileage by 5 mpg. Slowing down to 55 boosted it another 5 mpg.

Lose the roof rack

At highway speeds, 50 percent of your engine's power is used for overcoming aerodynamic drag. Don't add to it by carrying things on top of your car. Our Camry's fuel mileage dropped 5 mpg at 65 mph when we installed a car-top carrier. Even empty ski or bike racks reduce fuel economy.

Drive smoothly and drive smart

Hard acceleration and braking lowered our Camry's mileage by 2 to 3 mpg. Try to maintain a steady speed on the highway. Around town, combine errands to save trips. Minimize driving when the engine is cold, and avoid idling for long periods.

Don't use premium gas if you don't have to

If your owner's manual calls for regular gasoline, using premium is a waste of money. You won't see any improvement in gas mileage or performance. Even if the manual says premium is recommended, you can usually use regular because the engine will make adjustments for the lower octane. There could be a slight, probably unnoticeable reduction in power and fuel economy in some situations. But if the manual says premium gas is required, use it.

Buy tires with low rolling resistance

Rolling resistance is a measure of how much energy it takes to roll a tire down the road. Among tires we've tested, lower rolling resistance can mean a difference of 1 to 2 mpg on the highway. ConsumerReports.org subscribers can check our Ratings for highly rated tires with low rolling resistance.