Creating a budget is a fundamental part of the process of buying used cars. The budget must include all costs and fees associated with the purchase. Additional to the purchase price and other fees, the total cost of ownership must also be part of the budget. Maintenance costs should be included in the total cost of ownership of any vehicle. This is something any buyer needs to keep in mind when purchasing a used car.
We want to make the process easier for buyers who are starting their car search. This is why we will cover here the list of car models with highest and lowest maintenance costs over time. This information will help you make a wise and informed decision on your used car.
Maintenance Costs for Used Cars
We tend to think that maintenance in used cars consists only of regular oil changes and checking tire pressure. However, reality is that maintenance for any car can start changing and increasing over time. This means that maintenance costs will go up with time and mileage, also increasing the car’s total cost of ownership. So, before making a decision on which used cars to buy, take a look at the models with highest and lowest maintenance costs.
Actually, it is said that Americans can spend 5% of their income on purchasing a car, and another 5% goes towards insurance and maintenance costs. The variables that were taken into account for this information were fluctuations in maintenance costs during the first ten years of the car’s life.
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Used Cars with Highest Maintenance Costs
Looking at this list you’ll see that owning any of these car models can cost you a minimum of $12,000 to maintain in a period of ten years. Keep this in mind when searching for a used car to buy.
Used Cars with Lowest Maintenance Costs
Different from the others, maintenance prices lower in 50% for these car models. This means that you must have a minimum of $6,500 on your budget for maintenance.
Ultimately, costs for any car’s maintenance can also depend on the mileage, the type of use the car has, and other factors. You still have to keep in mind these costs when searching for a used car and organizing your budget. It will save you from any unexpected expenses that can cause you a big headache.