6 Auto Buying & Insurance Tips for Single Moms

As a single mom, you are already doing the best that you can for your children. You work hard to provide for them and make ends meet.

That’s why we want to help you save on one big-ticket item: transportation.

Let’s take a look at the most affordable cars, how to save on gas and repairs, and the best auto insurance for single moms.

We know that every penny counts, so let us help you get the most value for your money when it comes to buying a car.

#1 – Get Pre-Approved for a Car Loan Before Going to the Dealership

If you’re in the market for a new car, the first step is to get pre-approved for a loan. This way, you’ll know exactly how much money you have to work with.

Auto dealerships are notorious for pressuring buyers into spending more than they can afford.

But if you have a loan pre-approval in hand, you can stay focused on finding the right car for you and your budget.

There are a few things to keep in mind when getting auto financing:

Compare interest rates from different lenders to get the best deal.
Remember that the longer the loan term, the lower your monthly payments will be. However, you’ll end up paying more in interest over time. So, if you can swing it, opt for a shorter loan term.
Make sure to factor in the cost of auto insurance when budgeting for your new car.

If you know your budget, you can step onto the lot with some financial confidence.

#2 – Choose a Car That’s Affordable and Has Good Fuel Economy

Now that you know how much money you have to work with, it’s time to start shopping for a car.

When you’re a single mom, it’s important to choose a vehicle that is both affordable and has good fuel economy. After all, you don’t want to spend all of your hard-earned money on gas.

There are a few different ways to find an affordable car. There are ways to save on your next car purchase. One option is to buy a used car.

You can often get a great deal on a used car, and you won’t have to worry about it losing value as quickly as a new car would.

Another option is to lease a car instead of buying one outright. This way, you’ll have lower monthly payments.

And, if you keep the car in good condition, you can often trade it in for a new lease when your lease is up.

Whatever option you choose, be sure to do your research. Read reviews of different cars to see which one would be the best fit for you and your budget.

#3 – Don’t Be Afraid to Ask for a Price Reduction: Negotiate

Once you’ve found the perfect car, it’s time to start negotiating.

Don’t be afraid to ask for a discount. If you’re a good customer, most dealerships will be willing to work with you.

Consider trading in your old car. This can often lower the price of the new car you’re interested in, however, you’ll likely sell your car for a lower value to a dealership.
Pay cash for the car. This shows the dealership that you’re serious about buying the car and that you’re not going to default on your loan.
Remember you are in charge. You don’t have to pay full price for a car just because the sticker price says so. If you feel like you’re being pressured to pay more than you’re comfortable with, walk away.

There are plenty of other dealerships out there that will be willing to give you a fair price if the dealership or salesperson you are working with is trying to play games.

#4 – Compare Insurance Rates Online to get the Best Deal

With the perfect car (at a negotiated great price), it’s time to start thinking about saving money on car insurance. The good news is that you can compare monthly auto insurance rates online in just a few minutes.

To get started, gather some basic information about yourself and your vehicle. You’ll need things like your driver’s license number, the make and model of your car, and your credit score.

Once you have this information, you can jump online and start comparing rates from different insurers.

#5 – Make Sure You Have Adequate Coverage in Case of an Accident

When you’re comparing auto insurance rates, be sure to consider the coverage that each policy offers.

Some policies will have higher monthly premiums but will cover more in the event of an accident. Other policies will have lower monthly premiums but won’t cover as much.

It’s important to find a balance between the two. You don’t want to overpay for your auto insurance, but you also don’t want to be under-insured.

If you have an accident and don’t have adequate coverage, you could end up owing a lot of money out of pocket.

#6 – Save Money on Vehicle Repairs

There are a couple of ways to save money over your vehicle’s lifetime.

The most important to consider are self-repairs, regular maintenance, and finding a trusted technician.

Know when to do the job yourself: If you’re comfortable with basic car repairs, there are a few things you can do yourself to save money. For example, you can change your own oil or replace your own filters. This can be a great way to save a few bucks each month.
Get regular maintenance: Another way to save money on vehicle repairs is to get regular maintenance. Oil changes, tire rotations, and fluid replacements/flushes can be vital to ensuring your vehicle goes the distance. By keeping up with regular maintenance, you can often avoid more expensive repairs down the road.
Find a trusted technician: When you do need to take your car in for repairs, be sure to find a trusted technician or good car service provider. A good technician will be honest with you about what needs to be done and won’t try to upsell you on unnecessary repairs.

The Auto Wrap Up

By following these tips, you can save money on auto insurance, gas, and repairs.

This will give you more breathing room in your budget to cover other expenses. Single moms have enough to worry about without having to stress over transportation costs.

With a little bit of research and planning, you can find ways to save money that will work for you and your family.

Luke Williams writes and researches for the auto insurance comparison site, AutoInsurance.org. His passions include insurance and helping single parents find the most affordable insurance.

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