6 Times Being Frugal Can Backfire for Car Owners

Times are tough for millions of Americans. Feeling the pinch of inflation and the pressure of rising costs of living, many of us are barely getting by.

According to research by Empower, 37% of Americans can’t afford an unexpected expense over $400. Naturally, those of us living paycheck to paycheck (or close to it) are keen on saving money . We cut corners whenever possible, and do everything we can to minimize the risk of falling into — or deeper into — debt.

Try This: These 10 Used Cars Will Last Longer Than an Average New Vehicle

Check Out: 7 Reasons You Should Consider a Financial Advisor — Even If You’re Not Wealthy

Frugality is a smart approach no matter your financial situation, but it can backfire and cost you in certain areas. For example, being frugal about your car can be a recipe for a costly disaster.

GOBankingRates spoke with automotive experts to discover the six times being frugal can backfire for car owners.

Earning passive income doesn't need to be difficult. You can start this week.

Buying Cheap

Scott Kunes, COO at Kunes Auto Group finds that car buyers trying to be frugal often learn the hard way that, indeed, you get what you pay for. A very cheap car is quite likely not in very good shape. And that will cost you in time.

“Cars that are well maintained and cared for hold their value for longer and – on the flip side – a car someone is trying to unload for cheap might come with a costly engine, transmission and other problems caused by lack of regular maintenance,” Kunes said.

Trending Now: Car Experts Recommend These 9 Used German Cars for Maximum Reliability and Longevity

To avoid buying a lemon, Kunes recommended having the car inspected by a trusted dealer or mechanic before making a buying decision. Also, pull the car’s vehicle history report.

“This will include the car’s maintenance records and whether the vehicle has been involved in any accidents,” Kunes said.

Penny Pinching at the Pump

Yes, many cars run just fine on regular gasoline, but there are those for which premium gas improves performance and provides better fuel efficiency. Kunes recommended opting for premium gasoline when appropriate for your vehicle.

Using Household Products to Wash Your Car

Washing your car and reasoning that, hey, how bad can dish soap be? It makes porcelain so shiny! Well, using dish soap on your car is not a good idea. At all. It will provide you not with a clean car but with a costly problem.

“The result is damage to the paint if you wash your car with dish soap,” said Lauren Fix, sector analyst and industry expert at The Car Coach and Car Smarts. “It strips off all the wax and leaves you with a project of re-applying a fresh coat of wax.”

Always use products designed for cars when washing yours.

Postponing Car Washes (And Letting That Bird Poo Pile Up)

Another common mistake frugal car owners make is to put off car washes, perhaps figuring that Mother Nature will do her thing.

“You might not mind skipping a few washes to make up for a big car payment, but everything from the elements to salt on the road, to good ol’ bird poop will wear away a new car’s finish and detract from its overall resale value,” Fix said.

“New car owners should be mindful of dirt and grime that can build up – both inside and out – and opt for a wash (preferably by hand) every week or two and a full detail at least four times a year,” Fix continued. “Instead wash your car at least once a week and remove bug and bird droppings as soon as you can.”

Leasing A Car Instead of Buying

Leasing a car can be attractive to frugal-minded consumers, but it presents a big loss.

“When the lease is up, that’s it, you essentially rented the vehicle,” Fix said. “You don’t own the car, so you have nothing to show for all your car payments. Instead, purchase a certified pre-owned car and get a newer car for a lesser price. Let the first owner deal with the depreciation.”

Skipping Regular Service

If your car is running perfectly fine, you may think you can skip that routine maintenance appointment. Think again.

“Regular service through an authorized dealer ensures the right diagnosis, procedures, tools and parts are used in addressing any maintenance and repair service,” said Claude Bruni, head of sales, aftersales and Operations at MINI. “New car and CPO warranties cover service & repairs during this period. There is also a host of extended warranty products and service contracts that can be purchased to cover things like wheel and tire damage, regular maintenance, and repairs for cars that may be out of the new car warranty period.”

This article originally appeared on GOBankingRates.com : 6 Times Being Frugal Can Backfire for Car Owners