Monday, March 25, 2013
Money Monday: Pay Less For Gas
When gas prices go up, everyone feels the pinch, especially if you buy premium fuel for your car. But 7's Lynn Martinez says not everyone has to pay top dollar for gas. Here's more in tonight's Money Monday.
Jay Ghanem: "Whatever fuel the car is recommended for, I start by using the lesser gasoline, and if I hear any tapping and knocking in the engine, I elevate it a notch."
When it comes to fuel, Jay knows there's a big difference between what's required and what's recommended.
Jay Ghanem: "Most people are not aware and when they think recommended they think it is required."
Scott Fanelli of Edmunds.com says it pays to know the difference.
Scott Fanelli: "A lot of the cars on the recommended list you can use regular unleaded for a short period of time. Now, it is not recommended to do that for the life of the vehicle but for a short period of time when gas prices are so high, you can use it and not worry about causing engine damage."
To find out what kind of gas your car has to have, go to Edmunds.com and type in "stop buying premium."
You'll see a list of cars that are required to use the more expensive premium gasoline, and the cars in which premium is recommended? That list is 22 pages long!
Scott Fanelli: "There are a lot of different cars on there. If you drive an Infiniti, for example, which is considered a luxury car, almost all of their makes are recommended and not required."
So, when gas prices soar, you might be able to switch off to regular and give your pocketbook a break.
Scott Fanelli: "It's definitely worth it to try and save 40 cents a gallon once a week. It's a lot of money over the course of six months or a year."
For Jay, it's already a habit he doesn't plan to change.
Jay Ghanem: "It saves me money year after year after year."
Again, if you hear any knocking in your engine just switch back to premium.
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