Owning a larger vehicle such as a truck or SUV can have many benefits. With more legroom and extra storage space, it’s not hard to see why so many people prefer bigger options.
However, size can mean increased costs. These vehicles are typically more expensive to purchase, fuel up, and possibly insure. Due to their higher sticker price, larger trucks and SUVs can cost you a larger premium due to their value.
For example, Dodge Ram 3500 insurance may be more expensive than insuring a smaller car like a Honda Civic. Because the Dodge Ram will cost more to replace if you total it, your insurance company may charge more for coverage.
It can be discouraging for those searching for a truck or SUV to worry about potential costs associated with their vehicle. Luckily, there are some options for those who don’t want to sacrifice size but still wish to save money.
Consider a Used Model of Your Large Vehicle
If the initial sticker price is your biggest concern, opting for an older model may help you save some money on your purchase. Though new vehicles are tempting, they can also come at an extremely high cost.
Searching for a used version of your ideal truck or SUV can save you a lot of money compared to the cost of a current model. You don’t have to think years and years old, either. Sometimes, a one- or two-year-old vehicle can still give you massive savings.
Explore local dealerships and even look online to find a make and model you’re searching for. The possibilities are endless to locate your dream truck or SUV at a fraction of the cost.
By choosing an older option, you don’t have to sacrifice the size of your dream car to make up for the high price tag.
Look Into Eco-Friendly Vehicle Options
With all the strides to improve the environment as of late, trucks and SUVs are no exception. Many companies have gone green and turned their most popular models into hybrid options.
Hybrid models can offer massive savings at the pump, as many can consume up to 50% less gas than traditional vehicles. This can be ideal for people who travel long distances or enjoy road trips. If you’re hoping to save money on fuel costs, looking into a truck or SUV with an electric option can certainly help you cut costs.
However, it’s important to remember the price of these hybrid models will likely be more than a gas-only option. Since these vehicles are more complex to build, their upfront costs will reflect those expenses.
Over time, you’ll find plenty of savings through a hybrid model. You may also even receive a tax credit for your purchase. But it’s essential to weigh the initial sticker price before deciding. If you’re hoping to keep more money in your pocket in the long run, the savings may justify the purchase cost.
Cutting Costs on Bigger Vehicles
There are many reasons someone may need a large truck or SUV — big families, frequent hauling, or even just for the extra space. While having one of these vehicles may seem like it will cost you more, there are many ways to save.
Whether you purchase a used model or explore hybrid options, you don’t have to break the bank or give up your bigger vehicle. Finding an option that works for you and your budget is possible.
Alexandra Arcand writes and researches for the car insurance comparison site, QuoteInspector.com. She is passionate about helping people find ways to save on their dream vehicles.