If you're serious in purchasing a car, you shouldn't spend your whole budget on the car and its monthly payments. Some of your money will have to go toward maintenance, repairs and other car expenses such as insurance, registration fees even more. So what exactly will maintenance and auto repairs cost you? And just how much should you project on spending? We have quite a few answers that you might find helpful.
It Depends What Sort of Car You Choose
The reality of automotive maintenance and repairs is that the cost of these items mainly is based on the car you decide on. So it's hard to offer a one-size-fits-all number for drivers who are interested to find out just how much maintenance and repairs will cost.
The main reason why these bills rely so much on the car is that accessories and labor vary depending on the manufacturer. A number of auto mechanics can work on a Chevy or a Toyota, so labor fees aren't very expensive, and since parts for these vehicles are so common, parts prices aren't very costly either. It's the opposite with high-dollar luxury cars, where very few mechanics are trained to work on them and parts are in short supply.
Repair and Maintenance Costs
Although costs can vary from car to car, budgeting for normal maintenance isn't quite hard. You may need an oil change every 5,000 to 10,000 miles, depending on company suggestions. You'll also need to replace your tires and battery every couple of years, and your brake pads, which will require replacement even more regularly. And depending on the car, chances are you'll also have to budget for stuff such as transmission fluid, transfer-case fluid, brake fluid and a lot more.
Before purchasing a automobile, we definitely suggest that you determine what all this maintenance costs -- and how frequent your vehicle requires it -- so you can properly budget what it'll cost you you to own. We also advise that you take a look at your braking system and wheels to find out how soon you'll have to pay for this work.
Preparing for Emergency Repairs
Although it's difficult to come up with an exact maintenance and repair amount for each car, we certainly advise that you you should always keep an emergency fund that's equivalent to about 5 percent of the price of the vehicle. This will be handy in case there's ever a surprise repair service.
