The maintenance cost of cars has increased significantly over recent years. So, it becomes necessary that you have some estimation about its maintenance cost when buying a new car. It will help you know whether you can afford that car in the long run or not.
Regular car maintenance expands its life span. It keeps the vehicle in relatively good condition. It helps you redeem a good part of your initial investment in reselling.
What makes up the maintenance cost of a car?
The direct costs associated with car maintenance include the following:
A regular oil change helps maintain the vitality of your car. It prevents the accumulation of dirt in the car’s engine. A clean engine ensures the smooth running of your vehicle.
When you change oil with consistency, it extends the life of a car’s engine. It ensures proper lubrication and prevents overheating. You get a better gas mileage.
A lazy car owner who doesn’t bother about oil change bears additional costs with more frequent gas refills.
The frequency of oil change depends on the condition of your car. If you own a new vehicle, you need to change its oil after 5000-7500 miles. As the car wears down, it demands more frequent maintenance. You may have to change its engine oil every 3000 miles.
Battery replacement cost also adds up to the maintenance cost of a car. However, it is just a minimal cost that you incur after 3-5 years. This period can vary depending on how you use your vehicle. If your car frequently faces harsh weather conditions, it wears down the battery quickly. Also, the battery life reduces when you often use the lights to lit up the car’s interior.
Tires play an essential role in the safe driving of a car. The tread of the tires helps them gain traction on the road. As the tires get older, they lose this tread. The insufficiency of tread makes the driver lose control of the vehicle. It proves highly dangerous on a wet road.
You need to replace the tires after every six years. The cost of replacement depends upon the quality of the tires and the model of your vehicle. You also need to rotate the tires for more efficient performance and longer life.
Car insurance is another essential expense. It gives you financial protection if the vehicle meets a deadly accident. The insurance cost depends on your lifestyle, habits, and driving record.
If you have a poor record, insurance companies may deny you the coverage. Alternatively, they may charge you a higher premium.
Other maintenance costs of a car
Some costs associated with a car don’t make up for direct expenses. It includes depreciation. Depreciation is the percentage decrease in the value of a vehicle over time. It directly affects the resale value of your car.
Depreciation depends on how you use your vehicle. If you take proper care of it, this percentage tends to be smaller.
How do we reduce the maintenance cost of cars?
If you think that costs associated with car maintenance can upset your budget, there are some ways to reduce them.
- You can clean your car yourself. Although it is not an expensive service, yet over the years, the total cost can accumulate to a few hundred dollars.
- Timely maintenance can also reduce the cost. If you delay the process, the expense will increase over time. The components may wear down beyond repair and need replacement.
- Careful driving ensures the safety of a car and reduces maintenance costs. The brakes and tires last longer.