When buying a new or used vehicle, it is important to understand what goes into the cost of car ownership. Beyond the monthly car loan and insurance costs, the price of car repairs and car maintenance should be included in your budget. While the average car maintenance cost is over $1,000 per year, costs can fluctuate depending on various factors.

Car maintenance is essential for your vehicle’s health and longevity and can help you avoid expensive car repairs in the future. Regular oil changes, wiper blade replacements, tire rotations, wheel alignments, and brake pad replacements will keep your vehicle running at its best without costly auto repair costs.

However, the price you’ll pay for maintenance depends on a variety of factors, including:

• Vehicle make and model
• The age of your car
• Your vehicle’s mileage
• How often you drive your vehicle
• Your geographical location
• How you use your vehicle

If this is your first year owning your vehicle, we recommend setting aside $100 monthly to help you budget for car maintenance. If you’ve owned your vehicle for multiple years, you can budget based on what you spent on vehicle repairs and auto maintenance last year. Finally, depending on your auto protection plan, vehicle maintenance costs may also be included.