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How you can save money as the cost of owning a car goes up

Posted at 6:57 AM, Oct 25, 2023
and last updated 2023-10-25 06:57:31-04

SOUTHFIELD, Mich. (WXYZ) — Getting around metro Detroit is getting more expensive, which you may already know if you commute.

According to new numbers from NerdWallet, the cost of owning a car – including things like filling up on gas, repairs and maintenance, parking, insurance and licensing costs – have risen 35%.

Despite an increase in work-from-home options, 77% of the U.S. workforce still commutes from work.

However, there are still ways you can save, including a new option opening up in metro Detroit.

According to numbers from the Michigan Department of Transportation, there were 1.7 million Michigan drivers on the road per day before the COVID-19 pandemic. That number is now closer to 1.5 million.

“We are still about 10t o 12% below what we were in 2019, 2018 — but traffic volumes keep increasing on a yearly basis. So we are starting to see that, especially in the morning and the afternoon commutes," MDOT spokesperson Rob Morosi said.

One way people can soon save is by using carpool lanes. They should be up-and-running along I-75 between South Blvd. and 12 Mile before the end of the month.

They will be operation Monday through Friday between 6 a.m. and 9 a.m. and 3 p.m. to 6 p.m.

Cars can park at carpool lots near Adams and I-75, and at two lots near I-75 and 12 Mile.

Other ways people can save is by shopping around for car insurance at the cheapest price, and using discounts and rewards programs to save on gas. Finally, plan out trips ahead of time.

In the same category, Morosi said Mondays and Fridays are the least traveled days of the week, so it might be a good idea to run errands on those days if you can.