With the cost of gas continuing to skyrocket, a lot of drivers are beginning to feel like their gas pedal is directly connected to the money in their pocket. Many automobile owners see cutting back on driving and how many daily trips they make as the only way they can save. But when you look at the total cost of driving a car or truck you'll notice many areas where you can save on expenses.

Instead of just concentrating on fuel economy lets take a look at cutting the cost of car ownership to. Here are five ideas for you to consider. Using these ideas and increasing your fuel savings will make sure your wallet doesn't run dry.

1. Reduce Fuel Consumption

This is really easier than you think it is. A well tuned car, air filter replaced or cleaned, and your tires are inflated according to their manufacturer's recommendations can go a long way. These simply steps have been documented to reduce fuel consumption by an amazing 20%! When you are out and about driving, avoid jack rabbit starts and stops and drive at a slower pace. Even though this may seem elementary your car burns less fuel at slow speeds. Also, consolidate trips whenever possible. Take the time to plan shopping and errands to make the most of the gas you have to use, make it go farther this way.

2. Shop Around For Auto Insurance

The internet has changed the way we shop for auto insurance and some of the best prices can be found with a click of your mouse. Never shopped for auto insurance online before? You are in for a big surprise how easy it is. Some of the best sites for auto insurance save you hours of research time by showing you their estimate right next to their competitors. Also it never hurts to mention to your present insurance agent that you are shopping around to save money, they might just match anything you find to keep your business.

3. Finance Option-Owning and Leasing

Many years ago the only way to drive a vehicle was to buy it out right. With the concept of leasing this gave folks another option to work with. But whether you lease or own, now might be the time to look into changing the way you finance to save money. Refinancing can be an excellent way to lower your cost. Depending on how low interest rates are and how much you owe when you refinance, this can add up nicely for you.

4. Consider An Extended Warranty

For most people, a major vehicle expense is the maintenance costs. Overall a car or truck that has regular maintenance is less expensive to drive. In the last few years, not only manufacturers of vehicles but anything else you can think of, have created the extended warranty. The extended warranty when first introduced was not accepted with open arms like it is now. But with the high cost of driving it makes perfect sense for our time. Some major repair bills can well exceed what you pay for an extended warranty, so the savings are definitely a plus.

5. Carpooling for fun and cost reduction

What ever happen to this easy and fun way to saving on gas expenses? Whether your family, friends or coworkers, taking the time to plan out sharing rides is a great way to cut the cost of expensive fuel. This is especially true concerning forming a carpool with coworkers. Ask around at work and find people who live on the same side of town you do and put this fuel economy tip to work.