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5 min read published October 12, 2022
Authored by Rebecca Betterton Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase cars. The article was edited by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate from late 2021. They are passionate about helping readers gain confidence to control their finances with concise, well-studied information that breaks down otherwise complicated topics into bite-sized pieces. The Bankrate promises
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Frequency
Expected cost
Oil change
Every 5,000 – 7,500 miles
Between $35 and $75
Basic inspection
Every 5,000 miles
$150-$250
Tire rotation
Every 5,000-8,000 miles
From $24 to $100
Wiper replacement
Every six months
Between $10 and $45
Brake pad replacement
Every 10,000-20,000 miles
From $115 to $300 to replace parts You’ll probably have to replace some parts of your vehicle due to general wear-and-tear or other problems. Whatever the reason, the price for a replacement is dependent on the component that requires replacing. Two of the most common elements that affect cost are vehicle type such as luxury cars that have more expensive partsas well as the market price. Consumers are also directly impacted by the increase in price as well as the availability of vehicle parts. Technicians rarely have extra batteries, transmissions or brakes in stock and must order these items. Insufficient supply has impacted repair time, and there are still lengthy waiting times for parts. The news reports from across the nation continue to cite delays in shipments of parts and Cars.com states that there are ongoing shortages of inventory in mechanics and dealerships. It is important to prepare for higher replacement costs than normal due to an increase in the cost of materials used in vehicles. Similar to supply chain problems that have created fewer available cars and parts, the cost of replacements has decreased also. Parts for vehicles
Frequency
Expected cost
New tires
Every six years or between 25,000 and 80,000 miles
Between $45 and $250 for each
Refilling the Air Filter (engine and cabin)
Every 15,000 to 30,000
35 to $80
Brake pad replacement
Every 10,000 to 20,000 miles
Between $115 and $370 delay reports have surfaced in brake pads, batteries, filters and certain tires. With fewer parts available anticipate paying morein 2021, According to Michael Chung, market intelligence director at Auto Care Association. The inflation rate has also been an issue — in addition to delays, the cost of vehicle parts has also increased. The unexpected repair costs will surely arise when you own a vehicle. This could be a sudden spill that causes a stain on an interior area of the car or something more serious like an . In any case, it’s essential to have extra cash for repairs that might not be expected to pop up. AAA discovered that the majority of households can’t afford to pay the bill to cover an unplanned repair. Although the costs are generally beyond your control, you can save future stress by budgeting for that worst-case scenario. It is also wise to shop around and find an repair shop that has a good reputation and fair prices. Reach out to your company to find out what they offer prior to making repairs. Here’s a list of typical repairs that can occur and the costs that are assuaged by them. Unexpected repair
Costs expected to be
Flat or blown tire
$10 to $250
Transmission issue
$1,200 to $6,000
Damage caused by weather
$1,000 to $3,500
Minor collisions
$50 to $3,000
Engine overheating
$100 to $1,500
Dead battery
$45 to $350
Broken starter motor
Cost ranges from $80 to $1,100 based on the brand The cost of a more expensive vehicle is higher than the cost of a basic car — and the maintenance associated with it is more expensive as well. Your warranty may even require you to handle maintenance at a specific dealership, even for simple things like oil changes and mileage checks. The dealership experience can be more expensive but does carry the comfort of mechanics that specialize in your vehicle’s make and model. Although it is obvious that mid- or high-end vehicles require high-end upkeep, this is not always the situation. Take Dodge for instance. Although it’s a mid-tier option but the annual cost for maintenance reaches close to the level Mercedes customers have to pay. Think about the cost that comes with a car, and it will depend on how often you’ll need to bring it to the repair shop. However, even the simplest costs- like gas — will be more expensive if you have to opt on premium-quality fuel. Find out the annual average costs of various brands of vehicles to determine the price a car can cost you throughout the duration of your ownership. Vehicle brand
Cost of maintenance annually for a vehicle that’s been in use for 10 years
BMW
$1,033
Chevrolet
$342
Dodge
$719
Ford
$321
Honda
$377
Kia
$392
Mercedes
$774
Nissan
$376
Subaru
$480
Toyota
$338 Cost based on the type of vehicle Although the brand of the vehicle clearly influences the cost of maintaining it however, the model of the vehicle can also be a significant determining factor. Broken down below is the cost average of ownership of a vehicle that lasts for five years, and 75,000 miles. AAA discovered this figure by calculating depreciation, financing and insurance, fuel licensing, registration, taxes, maintenance, repairs and tires. The lowest price for vehicle maintenance goes to electric vehicles. However, the half-ton pickup is most costly to maintain. The type of vehicle
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 In these rates that maintenance for vehicles is based on several factors that are not a best way to find an inexpensive car. However, a smaller or less expensive vehicle will cost less. Electric vehicles are increasingly readily available on the market and could be a great option for drivers who want to save money on maintenance. Maintenance is a necessary part of vehicle ownership. However, by knowing the average cost you can budget accurately for routine maintenance and unexpected repairs. Research mechanics and consult your owner’s manual in order to verify you’re meeting the needs of your vehicle.
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Written by Auto Loans Reporter Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers with the ways and pitfalls of borrowing money to purchase cars. Written by Rhys Subitch Edited by Auto loans editor Rhys has been writing and editing for Bankrate since late 2021. They are dedicated to helping their readers feel confident to control their finances through providing precise, well-researched and relevant information that is broken down into complicated topics into digestible pieces.
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