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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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We make sure that everything we publish will ensure that our content is reliable, honest and reliable. The loans reporters and editors are focused on the things that consumers are interested about the most — the different types of lending options and the most competitive rates, the most reliable lenders, ways to pay off debt and many more. This means you’re able to be confident about investing your money. Editorial integrity

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You have money questions. Bankrate has answers. Our experts have helped you understand your finances for more than four years. We continually strive to provide our readers with the professional advice and tools needed to succeed throughout life’s financial journey. Bankrate adheres to strict standards policy, which means you can be confident that our content is honest and reliable. Our award-winning editors and reporters produce honest and reliable content to help you make the right financial choices. Our content produced by our editorial team is objective, factual and is not influenced through our sponsors. We’re transparent about the ways we’re able to bring quality information, competitive rates and useful tools to you by explaining how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the placement of sponsored products and, services, or when you click on specific links on our site. Therefore, this compensation may impact how, where and in what order items appear in listing categories and categories, unless it is prohibited by law. This is the case for our mortgage, home equity and other home loan products. Other elements, such as our own proprietary website rules and whether or not a product is offered in your region or within your own personal credit score can also impact how and where products appear on this website. We strive to offer an array of offers, Bankrate does not include specific information on each credit or financial product or service. The cost of owning a vehicle can add up. When it is time to buy your next car, you must consider the – visits to the mechanic. When you are having your oil changed or having tires replaced both range in cost, AAA found that drivers spent on average $9,666 towards their cars in 2021. This is an increase of $279 from the previous year and with the rate of increase the cost of a car increases, it’s essential to plan for costs for your vehicle in order to determine which vehicle is best for you. Car maintenance basics average price to run an all-new car in 2021 was $9,666 . average motorist spends $1,771 a year for full coverage. License Registration, taxes on vehicles and the like are $699 annually. For vehicles that are newer, it is recommended to get their oil changed every 5,000 – 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 vehicle’s routine maintenance routine maintenance of vehicles keeps your vehicle running as it should, and consequently, keeps you and your passengers safe. Maintenance costs differ based on car type, age and location, however there are some basic maintenance requirements that every car requires. Typically, your vehicle is required to visit the mechanic for overall upkeep every 5,000 miles or so. However, you should consult your owner’s manual for more specifics about your car’s needs. While mechanics are there to help you, they are also aiming to make money. So while most maintenance does require expert assistance, think about what you can handle at home to save money. Maintenance

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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