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5 minutes read. Published October 12, 2022

Written by Rebecca Betterton Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in helping readers in navigating the ways and pitfalls of borrowing money to purchase cars. Written by Rhys Subitch Edited by Auto loans editor Rhys has been editing and writing for Bankrate since the end of 2021. They are dedicated to helping readers gain the confidence to take control of their finances through providing concise, well-studied information that breaks down otherwise complex subjects into digestible pieces. The Bankrate guarantee

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If you have questions about money. Bankrate has answers. Our experts have been helping you manage your money for over four years. We strive to continuously provide consumers with the expert guidance and the tools necessary to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is truthful and reliable. Our award-winning editors and reporters produce honest and reliable content to help you make the right financial decisions. Our content produced by our editorial team is factual, objective, and not influenced through our sponsors. We’re honest about the ways we’re capable of bringing high-quality content, competitive rates and helpful tools to our customers by explaining how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated for the promotion of sponsored goods and services or when you click on certain hyperlinks on our website. Therefore, this compensation may impact how, where and when products appear within listing categories in the event that they are not permitted by law. We also offer mortgage, home equity and other home loan products. Other factors, like our own proprietary website rules and whether the product is offered in the area you reside in or is within your personal credit score may also influence the way and place products are listed on this website. Although we try to offer the most diverse selection of products, Bankrate does not include details about each credit or financial item or product. The price of vehicle ownership is a significant amount. When the time comes to purchase your next car take into consideration the trips to the mechanic included. When you are having your oil changed or tires replaced both range in cost, AAA found that drivers spend the sum of $9,666 on their cars in 2021. This is a $279 increase over the previous year and with the rate of increase, it is important to plan for costs for your vehicle when for which car is best for you. Important car maintenance facts cost of operating a new car in 2021 was $9,666 . average driver spends $1,771 per year for full coverage License, registration and vehicle taxes cost $699 per year The owners of vehicles with a newer model should get their oil changed every 5,000 to 7,500 miles 1 out of 3 motorists can’t afford the cost of unexpected repairs to their vehicle. 7.9 percent of drivers have delayed their car’s routine maintenance maintenance Routine vehicle maintenance keeps your vehicle running as it should and, by extension, keeps you and your passengers secure. The cost of maintenance varies based on the car type, age and your location, but there are some basic maintenance requirements that every car requires. Most likely, your car is required to visit the mechanic for overall upkeep at least every 5,000 miles. However, you should consult your owner’s manual to find out more details about your vehicle’s needs. While mechanics are there to help you, they’re trying to earn money. Therefore, while the majority of maintenance tasks require the assistance of a professional, think about the tasks you can do at home to save money. Maintenance

Frequency

Costs to be expected

Oil change

Every 5,000 to 7,500 miles

Between $35 and $75

Basic inspection

Every 5,000 miles

Between $150 and $250

Tire rotation

Every 5,000 to 8,000 miles

$24 to $100

Wiper replacement

Every six months

Between $10 and $45

Brake pad replacement

Every 10,000-20,000 miles

$150 to $300 for replacing parts You’ll probably require replacing some components in your car, whether due to wear and tear or larger problems. Whatever what the cause, price for a replacement is dependent on the component that will need replacing. Two of the most common elements that affect cost are vehicle type that is a luxury vehicle with higher costs for parts -as well as the market price. Consumers also are directly affected by the increase in price from and the availability of parts for vehicles. mechanics usually do not have spare batteries or transmissions, brakes or even brakes readily available and have to purchase these items. Shortages have affected repair times and there are lengthy waiting times for parts. News reports across the country continue to report delays in the delivery of components, and Cars.com reports continued inventory shortages at dealerships and mechanics. You should be prepared for higher than usual replacement costs because of an increase in the price of materials used in vehicles. As supply chain issues have led to fewer vehicles available, parts have been on the decline too. Parts for vehicles

Frequency

Expected cost

New tires

Every six years, or 25,000 to 80,000 miles

$45 to $250 each

Refilling the Air Filter (engine and cabin)

Every 15,000 to 30,000

35 to $80

Replacement of brake pad

Every 10,000-20,000 miles

From $115 to $370, common delay reports have surfaced for brake pads, batteries, filters and certain tires. With less parts on the market anticipate paying morein 2021, According to Michael Chung, market intelligence director at Auto Care Association. Inflation has also been an issue. In conjunction with the delays, price of parts for vehicles has increased. Costs for unexpected repairs are inevitable when you own a vehicle. This could be an unexpected spill that stains inside your vehicle or something more serious like an . Either way, it is essential to have extra cash for repairs that might not be expected to pop up. AAA discovered that a majority of people could not afford to cover bills in the event of an emergency repair. While these costs are mostly out of your control however, you can avoid future stress by budgeting for the worst-case scenario. It is also wise to shop around and find an repair shop that has an established reputation and fair rates. Get in touch with your business and inquire about the coverage prior to making a repair. Here’s a brief overview of the most common repairs that may come up as well as the costs associated with them. Unexpected repair

Costs to be expected

Flat or blown tire

$10 to $250

Transmission issue

1200-$6,000

Damage caused by weather

From $1,000 to $3,500

Minor collisions

From $50 to $3,000

Engine overheating

From $100 to $1,500

Dead battery

Between $45 and $350

Broken starter motor

Cost ranges from $80 to $1,100 based on the brand The cost of a more expensive vehicle is greater than that of a standard vehicle. The maintenance required will carry a higher cost, too. Your warranty may even require you to handle maintenance at a specific dealership even for items like oil replacements and mileage inspections. The dealer experience tends to be more expensive but can provide the peace of mind of mechanics that specialize in your vehicle’s make and model. While it might seem obvious that mid- or top-end cars require expensive maintenance however, that’s not always the case. Take Dodge for instance. Although it’s a mid-tier choice however, the cost of maintenance annually is close to what Mercedes customers have to pay. Take into consideration the costs that come with a car, and it could be based on how often you’ll be required to take it to the repair shop. However, even the simplest costssuch as gas will be more expensive when you choose to go for premium fuel. Research the average annual costs of different brands of cars to figure out the price a car can cost you in the course of its ownership. Brand name of the vehicle

Cost of maintenance annually for a 10-year-old car

BMW

$1,033

Chevrolet

$342

Dodge

$719

Ford

$321

Honda

$377

Kia

$392

Mercedes

$774

Nissan

$376

Subaru

$480

Toyota

$338 Cost by vehicle type The brand of the vehicle clearly influences the price of maintenance but the type of vehicle is also a large influencer. Below is the cost of ownership of a vehicle over five years and 75,000 miles. AAA discovered this figure by calculating depreciation, finance as well as insurance, fuel and registration fees, as well as licenses taxes, maintenance repairs, and tires. The lowest price for maintaining vehicles is electric vehicles, whereas the half-ton pickup is most expensive to maintain. Vehicle type

Cost of ownership in cents per mile

Small sedan

48.20

Medium sedan

62.44

Subcompact SUV

53.45

Compact SUV

56.63

Medium SUV

66.45

Midsize pickup

62.77

Half-ton pickup

77.25

Hybrid

66.06

Electric

61.96 According to these figures the maintenance of vehicles depends on a variety of variables which means there isn’t a perfect recipe for finding an inexpensive car. But an or smaller vehicle is more likely to cost less. Electric vehicles are increasingly accessible across the marketplace and could be a great alternative for people looking for lower maintenance costs. Maintenance is a necessary part of vehicle ownership. However, by knowing the average cost it is possible to budget for routine maintenance and surprise repairs. Research mechanics and consult the owner’s manual to ensure you are following the specific requirements of the vehicle you own.

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Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She has a specialization in helping readers with the details of borrowing money to purchase cars. Written by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since the end of 2021. They are committed to helping readers to take control of their finances with precise, well-researched and relevant information that breaks down complicated subjects into bite-sized pieces.

Auto loans editor

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