Parking can be very costly, especially if you live or work in a busy street. Without the right tactics, you are likely to spend tens of thousands of dollars in parking every year.
If you are reading this, chances are that you have a parking budget as to which you’re trying to reduce. However, the reality of the fact is that by preparing yourself for potential problems in the future, you won’t end up in a situation where you struggle to pay unexpected expenses. Let’s take a look at how to reduce your parking or garage rental lot expenses.
1) Research and Compare
As opposed to parking in your typical expensive parking lot, you should use Google Maps to find alternatives. This may reveal free street side parking that may be a little further away. You can literally save money, just by walking a bit further from your vehicle. Another thing you can do to assist you with this is to utilize apps that specialize in connecting commuters with people who offer a garage rental or street side that they may not be using. Ideally, you should research several parking lots within an acceptable walking distance to compare prices. Since you aren’t going to be using your own driveway while at work, you can offset the expenses by renting it out yourself.
2) Annual Packages
As is the case with most monthly subscriptions, your expenses will be reduced if you buy an annual parking pass. As opposed to paying daily, if you pay in advance the company will give you a discount. In addition to that, you should contemplate the possibility of using a ride and park service which lets you pay in advance. They tend to be more cost effective than central car parks.
3) Non-Commercial Parking
Depending on your area, you might have more parking options available to you than normal car parks. For instance, there are online services that allow residents to rent extra garage or parking space that they are not utilizing. While this is a long-term approach, using residential parking could save you a lot of money.
4) Lift Share
If you know a colleague who uses a similar route or is going to the same destination as you are, you should consider sharing the expenses. By sharing a lift, you will save money not only on parking, but car maintenance and fuel expenses as well. There are hundreds of lift share websites for every state. By doing a search online you can find several providers in your area. The problem with this is that if a college doesn’t show up, it may disrupt your entire day, as such you will need to communicate on a regular basis to ensure you and your colleagues are on the same page.
5) Public Transportation
Public transportation is a great alternative you can use to drastically reduce your expenses. By using a bus, it guarantees seating in a heated or air-conditioned vehicle and it will get you to your intended destination as long as you follow the schedule. Specialized commuter buses which are run by work transportation companies give the option of being able to book your seat ahead of time as well as to provide Wi-Fi and coffee during your trip. Not only will this reduce expenses, you’ll have more free time to relax before and after work without having to worry about staying awake during high peak traffic hours.
