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Car maintenance costs should factor into your vehicle selection. Whether you want to buy a used car or are getting a new one, maintenance costs are an important consideration. They add to your overall total cost of car ownership. You need to account for them and understand how much you’ll need to pay annually.
Skipping out on regular maintenance can have a detrimental effect on your vehicle efficiency. Failure to do regular maintenance could end up costing you more money long term. If you don’t address issues as they arise, it could void your car warranty and lead to even more expensive repairs in the future.
Here we will provide you with some insights into how much you can expect to pay for car maintenance.
The average maintenance cost for a car per year varies based on many factors. According to Canada Drives, it's estimated that vehicles that drive 20,000 KM per year cost approximately $1,500 in maintenance. This number can be higher or lower depending on how much you drive and other factors.
If you assume the average annual cost is about $1,500, then you can expect monthly car maintenance costs to be approximately $100 to $125. Remember that some months you may have no costs, and others you could have a larger repair bill. It averages out over a year.
Your insurance policy can use a little maintenance from time to time. Shop and compare to find the best coverage and lowest rates.
Car maintenance costs per year are unique to your vehicle brand. There are certain brands that cost more to maintain than others. Why? There is a difference in the cost for parts, and some brands require specialized diagnostics and maintenance.
As you would expect, luxury brands cost more to insure than more economical models. Your Mechanic provides a great list of average car maintenance costs by brand. Here are the 10 that cost the most to maintain :
Maintenance costs increase over time. Annual costs can start as low as $500 per year for a brand-new car. Most cars hit the average maintenance cost range ($1,500) around the 10-year mark. After this, costs can continue to rise and reach $2,000 or more annually. As a general rule, the longer you have a vehicle, the more it will cost you to maintain.
Here’s a list of some of the maintenance you’ll need to perform on your car :
Not sure how much your average maintenance costs are for your current vehicle? Use this simple vehicle operating cost calculator to assess your costs :
You’ll have a good estimate of your average maintenance costs for your vehicle.
Three main factors will have a direct impact on the cost of maintaining your vehicle :
Car maintenance costs are part of owning a vehicle. They need to be part of your budget, and you need to account for them. Use these tips to budget for car maintenance costs :
The cost of car maintenance is an important factor when selecting a vehicle. Here are some more common questions about car maintenance costs :
It depends. Vehicle maintenance costs vary based on vehicle brand and model, how much you drive and other factors. Check your vehicle owner’s manual to see the recommended maintenance schedule to get an idea of annual upkeep.
Electric cars cost less to maintain than gas powered vehicles. It’s estimated that it will cost about one-third to half of the maintenance costs per year. Overall, they require less maintenance.
Higher value and luxury vehicles tend to cost the most to maintain. Brands such as BMW, Mercedes, and Audi are commonly on the list of the most expensive to maintain.
Yes. There are two main types: scheduled and unscheduled maintenance costs. Scheduled maintenance is doing the factor-recommended maintenance at defined intervals. Unscheduled maintenance is repairs to parts of the vehicle that wear down. This includes the parts and mechanic costs for brakes, battery, tires, and wipers.
Every type of vehicle needs consistent maintenance to keep running smoothly - just like how every driver needs coverage to drive safely. Don't forget to calculate your car insurance rate for the year when you do your yearly finances.
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| Categories | Auto |
|---|---|
| Tags | Repairs and Maintenance |
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