Owning a car is a major financial commitment, and it's important to understand the costs associated with it. From oil changes to brake pad replacements, there are a variety of maintenance costs that come with owning a car. In this article, we'll break down the average monthly maintenance cost for a car and explain how to calculate other car ownership costs. When it comes to car maintenance, it's not necessarily a matter of time, but rather the distance traveled.
The cost of vehicle maintenance depends on a number of factors, such as the type and age of the car. Generally speaking, older cars may require more expensive repair shop visits, while newer models can perform well for years with only basic maintenance. Routine maintenance can also cost you hundreds of dollars a year, depending on the make and model of your car and your driving habits. We found that there are significant differences in costs between 5 and 10 year old models, which highlights the fact that cars need more maintenance and repairs over time.
To help you prepare for these costs, here's an overview of what the average car maintenance cost looks like, including how much each service item should cost and how often these services should be performed:
- Oil Change: $20-$50 every 3 months or 3,000-5,000 miles
- New Battery: $100-$300 every 4-5 years
- Brake Pad Replacement: $150-$300 every 50,000-70,000 miles
For the cost of owning a new car for a year, you could have a paid car for five years, drive it to the ground, and still have money left over for tolls.