A vehicle is a significant expense, perhaps one of the biggest in our daily lives. Aside from the initial purchase cost, you have to insure it and give it fuel to be able to drive it. On top of that, routine maintenance and occasional repairs can pop up any time, and unfortunately, those times are often the least convenient. To offset the expense and help you better prepare, we've created a guide to budgeting for vehicle maintenance and repairs.
In addition to the routine maintenance your vehicle requires, it will also need to be repaired from time to time. These repairs can range from minor to something much more complex, and they are often quite costly regardless. Because of the varying costs, it's difficult to put a set dollar amount on annual vehicle repairs, but AAA recommends setting aside 1.5-2% of your income.
Some of the more common vehicle repairs and their costs include:
Regularly maintaining your vehicle is essential to ensure it runs efficiently and for as long as possible. While this maintenance does require a bit of money, if you put it off, it will cost you significantly more down the line when the problem has become more serious. According to AAA, the average monthly cost of maintenance and repairs in the United States is $99. Routine maintenance costs included in this estimate include:
The ongoing costs of owning and maintaining a car can be significant. Vern Eide Mitsubishi in Sioux Falls, SD, is here to help, offering convenient hours, friendly service, and Mitsubishi-certified technicians. Vern Eide Mitsubishi's service team received ,em>the Outstanding Performer Customer Satisfaction award in 2017and we'd love to meet you!