How to Save on Gas in Canada

How to Save on Gas in Canada

Amidst the skyrocketing fuel prices in Canada, it’s become a genuine concern for drivers to worry about how to save on gas in Canada. In Vancouver, prices of regular unleaded gasoline have crossed the $1.60 ceiling and Montreal is surprised at the buck-forty-plus price for fuel – gas has always been a heavily taxed commodity in Canada, with the market price being settled on whatever consumers are able to bear!

However, if consumers can bear the prices, that doesn’t mean that they’d want to. Some might begin to opt for subcompact cars while others might begin thinking about how to save on gas in Canada. Luckily for you, it’s not that difficult! We have a list of things that you can consider if you want to save a few bucks on gas. Let’s discuss them in detail!

Use an app as your guide

Applications such as GasBuddy might help you figure out which gas station in your neighborhood has the best gas prices

The application has a very convenient map function in which you can check current prices based on the feedbacks that have been left by users, and sometimes the variations might be of 10 cents per liter of gas or even more.

10 cents may not look like too much to you right now but if you head out to fill your tank up to 130 liters for your pickup truck, then you might be able to save up to $13! CAA also has many others applications such as Gas Guru and Waze, that you can use for this information and get the best gas prices in your neighborhood to save on gas in Canada.

Shop for gas at Costco

Many Canadians are aware that they can save up to 10 percent on gasoline prices if they start shopping at Costco, however, the $60 annual membership turns them away.

Let’s suppose that you do get the $60 membership at Costco; you’ll end up saving at least $8 to $10 in every refuel and if you do the cost-benefit analysis, then it does seem worth it!

Many of the people still hesitate to go to Costco for gasoline because the lineups at their pumps are quite long and may take a bit of their precious time. Nevertheless, it’s still a very cost-effective measure to take if you want to save on gas in Canada. You may be spending some of your time in the waiting lineups, but you’re also saving quite a lot of dollars on gas too!

If distance isn’t a problem, buy from the US

For Canadians who live near the US border, it might be a beneficial opportunity for you to begin buying gas from the US instead of Canada. Canadian gasoline is priced at $5 CDN per US gallon and even with the exchange rate of $1.32, you might be able to save on gas in Canada – but in this way, you’re not buying from Canada!

Gasoline typically sells for about $3 per US gallon when you buy it from the States, and it typically costs $4 if you buy it from Canada – so, if you take our advice and head over to the States to fill up your pump, then you might be able to save at least $25 on every 100 liters of filling up your tank.

Get benefits from reward programs

If you’re a credit card owner, check to see if your company offers any type of discount on gasoline. Many of the companies have quite an attractive reward program, for example, if you own a Home Depot’s Pro Extra card, then you may get up to 10 cents off on every liter earned. The more you purchase at the store, the more liters you’ll be able to earn. So, if you’ve spent around $1000 on the Home Depot store, then you can get $10 off on fuel to save on Gas in Canada!

Some of the people may also have gotten their Air Miles rewards converted to Cash Miles, and these accumulated Cash Miles can be spent on fuel purchases for discounts. The reward programs may not seem too attractive at first but as rewards build up, they can actually give you a considerable amount of relief over fuel. Just make sure that your credit card does not have an annual fee or else you might be spending more than saving!

Use loyalty cards or cash-back fuel cards

There are many credit card companies that offer users cashback rewards whenever they spend on fuel in Canada, while some of the gasoline companies may also offer many rewards if you buy their gasoline from stores. Some of these rewards may be known as Petro Points, Esso Extra, Canadian Tire Money if you buy from Canadian Tire gas bars, Air Miles rewards by Shell and Irving, as well as Bonus Bucks by Pioneer.

You can use these points mentioned above and score plenty of them before you redeem them. As these points keep on accumulating, you may be able to qualify for a discount worth $25, $50, or even $100 on gas cards. Other than that, you can even use these points in return for a discount per liter of petrol that you buy in order to save on gas in Canada.

How to save on gas in Canada, use regular fuel

If you own a car that requires premium gasoline for its engine, you might be able to do just fine with the regular gasoline in order to save on gas in Canada. Keep in mind that premium gasoline costs about 20 cents or even more, but that depends on the grade. However, if your car’s manual specifically states that it should only be run on premium grade gasoline, then it may not be a good option to opt for regular grade because your car’s engine requires the higher octane and cheap fuel might not be suitable in that situation.

On the other hand, if your car’s manual states that premium-grade fuel is recommended for your engine, then it’s probably just fine to opt for regular grade fuel and you wouldn’t get into trouble for doing so if you’re using your car for daily commuting. However, keep your expectations a little low because regular-grade fuel will probably not provide you with the speed and quality that premium-grade fuel does – but you gotta do what you gotta do to save on gas in Canada!

Fill gas up early and keep it full

The prices of gas in Canada keep fluctuating between 10 cents per liter to 15 cents per liter, depending on what day of the week we’re looking at. For example, prices are always high on Fridays or if there’s a start to a long weekend. In this scenario, it would be wise to always keep an eye out to check when prices are low so that you can fill up your tank without waiting for it to go all the way down to empty before getting a refuel.

Any time during the middle of a week might be a good time to head out to fill up your car’s gas because that’s when the retailers lower their prices in order to encourage more sales. So, in order to save gas in Canada, it would be helpful if you end up buying often, whenever prices are low, to keep your tank full even if you go get gas with 3/4 of the tank left.

Keep a check on extra cargo and tire pressure

Tires that are underinflated might increase your gas consumption by two percent, even if it is just 4 PSI low. It is nothing but just a myth when people tell you that underinflated tired might decrease your fuel use, because not only does it increase fuel consumption, but it also increases wear as well. Also, underinflated tires would also increase the risk of a tire blowout and may put your life in danger too.

Hence, if you want to save on gas in Canada, it’s always recommended to keep your tires inflated till the required pressure, and you can find this by checking the sticker that’s on the inside frame of your car’s driver door. Other than that, it’s also recommended that you get rid of extra cargo from your car because it may act as dead weight and consume fuel unnecessarily. Another thing you can do to save on gas in Canada is to ensure that your engine’s using fresh air filters and is tuned properly in order to benefit from maximum performance.

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Switch to alternatives whenever possible

In order to save on gas in Canada, the easiest thing you can do is to switch to carpooling, biking, public transit, and other sustainable options. In this way, you will not only save on gas in Canada, but you will also drive less and contribute to less carbon emission in the environment. You will opt for healthier means and this will also send a message to the government that these prices are way too high for average consumers!

Conclusion

We have discussed a few of the options that you can revert to if you plan to save on gas in Canada; these options aren’t techy and complex at all! They just require you to make a few changes in your lifestyle and you’ll be good to go.

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How long does the car loan approval process take?

The time it takes to receive approval for a car loan depends on your choice of lender, your credit score, and other factors related to your application. If you applied at a bank, it typically takes two to three appointments within three to seven days or more to be approved.

Dealerships and online lenders can offer faster turnaround times. If you have a good credit score, it may take less time than someone with a bad credit score or no credit history.

To speed up the approval process, get pre-approved for a car loan. While the turnaround time is the same as a regular car loan application, it will save you time when you need to secure your chosen vehicle.

What down payment is required to get a car loan?

A down payment of 10% of the overall price of the vehicle is required in most cases. Although, some lenders may accept less. It is advisable to make as large a down payment as you can afford. Preferably greater than 10%. Paying a large amount upfront means you will have to borrow less. Borrowing less translates to lower payments.

How long is a car loan term?

Most terms for car loans are between 32-to-72 months, with 12 months being the lowest terms one can get and 96 months the highest. Choosing the terms for your car loan is one of the most important decisions. A longer-term might seem ideal, but you will pay more in fees and interest than a shorter term. Therefore, explore all your options and determine what will work best for your financial situation.

Can I get a car loan with bad credit?

If you have a low credit score, lenders do not immediately disqualify you from applying for a car loan.

Although receiving a loan from a bank is out of the question, there are several options of car loan facilitators available for you. Your best option would be what is known as a bad credit lender. Make sure to consider all our listed lenders to make the right choice for your budget.

How do I choose my loan type?

There are so many options out there when it comes to choosing a loan type. If you’re worried about the cost, go for the fixed rate loan. If you’re worried about budget risks, go for the variable rate.

May 4, 2021
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