We’re in the midst of summer, a time when many of us find ourselves driving more and perhaps thinking about purchasing a vehicle. Buying a car can be one of the most significant expenses in your life, impacting your disposable income throughout your driving years. The make and model you choose dictate much of your financial wiggle room. We’ll first review vehicles that require minimal maintenance, then explore the most expensive cars to maintain, and finally discuss the trade-offs involved.
According to US News, factors that contribute to a car’s ease of repair and maintenance include spacious engine compartments, color-coded serviceable parts, and clear owner’s manuals. The Toyota Corolla exemplifies these qualities, praised for its reliability, fuel efficiency, and low cost of ownership. Many buyers opt for the Corolla as their first car. Other reliable models include the Honda Civic, Honda Accord, Nissan Altima, Chevy Malibu, and Toyota Camry.
On the flip side, Kelley Blue Book lists Land Rover as the most expensive brand to maintain over 10 years, followed by Porsche, Mercedes-Benz, Audi, BMW, Volvo, Infiniti, Acura, Mini, and Subaru. For instance, a Land Rover might accrue maintenance costs totaling $19,250 over a decade.
According to carsedge.com, a Toyota Corolla averages $4,087 in maintenance and repairs during its first 10 years of service. Comparatively, the high-maintenance Land Rover costs $19,250, a difference of over $15,000.
The trade-offs are clear: if you’re passionate about Land Rovers and don’t mind the higher expenses, you might prioritize enjoyment over cost. On the other hand, opting for a more economical vehicle without the bells and whistles like the Toyota Corolla or Honda Civic can significantly reduce long-term maintenance spending, averaging around $1,500 per year. This $1,500 annually could be redirected towards discretionary spending like a vacation, investments, or building an emergency fund.
Sources:
https://caredge.com/toyota/corolla/maintenance
https://www.kbb.com/car-news/survey-land-rover-porsche-most-expensive-cars-to-maintain
https://cars.usnews.com/cars-trucks/advice/easy-cars-to-maintain-and-repair?slide=9
