Should You Boost Your Automotive Savings This Winter?

Saving for routine maintenance and repairs is a smart move. 

Do you know what would be even smarter? Boosting these savings during the winter. 

Old Man Winter isn’t kind to your vehicle. Between inclement weather and poor road conditions, you run a greater risk of damage this season. Having a little extra in savings can help you manage these repairs like a pro.

How Much Should You Save?

Ordinarily, the AAA recommends saving roughly $50 each month for routine maintenance and unexpected repairs.  

But is it enough? 

Inflation will likely cause the AAA to change this recommendation. The winter is also a dark season that has you driving in poor visibility and inclement weather. It can bring with it major issues in quick succession, and they can far exceed this amount:

• Your battery dies after one especially frigid night. While this replacement may range between $100 and $400, you also have to spring for a tow to your nearest mechanic. 
• You reverse into a parking lot bollard after hitting a patch of ice, damaging your park assist camera. Fixing this camera system can add more than $600 to the typical cost of bumper repairs. 
• You might have to replace your windshield after a hefty hailstone shatters it. That’s a $1,000 bill, according to the Kelley Blue Book.

Consider these repairs when thinking about your budget. Can you afford to set aside more in maintenance for the next few months? Boosting your savings even by an extra $10 each month can help you cover these repairs out of pocket. 

What if You Fall Short?

If you don’t think to boost your savings, don’t panic. That’s why you have insurance. Check to see if your policy covers your damage, then determine if making a claim is worth it. 

Insurance isn’t always available for these repairs or worth the deductible. In those situations, you might consider taking out an online loan. But don’t gamble with your money by applying for the first loan online. You should do your research to ensure rate shopping from legitimate online loan companies first. 

Legitimate online loan companies offer safe and convenient options, like a line of credit or emergency installment loan. Both options let you spread out the cost of your unexpected repairs, so you don’t have to come up with a lump sum of cash at once.

How Else Can You Protect Your Vehicle? 

You’ll thank yourself if you have an emergency fund or line of credit on standby in the event of an accident or repair. 

But are there any proactive steps you can take to avoid having to rely on these safety nets? Of course! Check them out below:

• Drive defensively, keeping an eye on fellow drivers.
• Navigate parking lots at slow speeds, opting for spots at the back to avoid other vehicles.
• Know how to spot for black ice and other wintry road conditions.
• Obey all posted speed limits, adjusting your driving for the elements.
• Address the little things, like a leak in the driveway, low pressure in a tire, or a crack in a windshield. Catching these issues early may reduce the cost of repair.
• Keep on top of monthly maintenance, like checking and replacing fluids.
• Schedule a tune-up for the winter to ensure your vehicle is running well. 
• Invest in winter tires, even if you don’t get snow. They stop faster than all-seasons once the temperatures drop below 45°F (7°C).
• Check your tire pressure and threads semi-regularly.

Follow these tips all season long to reduce your risk of unexpected damage. In the meantime, work with your budget to ensure you save more.