Cars are expensive, and there is no way of getting around that. Even though some of them can be affordable to buy, they can also be expensive to run at the same time. Be that as it may, no one can deny that maintenance costs are an extremely important factor to consider when looking to buy a new car.
Although some cars seem like bargains because they cost little, hidden costs such as maintenance, fuel, and insurance costs can drastically change that. That being said, if you want a cheap car experience, you should equally focus on both the purchasing costs and the maintenance costs respectively.
Some cars cost as much as $25k, $50k, or even $100k+ to maintain throughout 10 years, so be sure to invest your time in knowing which cars to buy, and which ones to avoid. Affordable, reliable cars with great value retention are usually the ones to consider.
As such, the Toyota Corolla and Honda Accord are both well known for their affordability and reliability. SUV-wise, the Toyota RAV-4, and the Honda CR-V are the two cheapest SUVs to maintain right now. As far as sports cars are concerned, the Mazda MX-5 Miata and the Honda S2000 are the cheapest to maintain.
On average, many cars out there costs more than $700 per year to maintain. Such prices are to be expected, and some people even believe that $1k is peanuts because there are cars that can cost 10 times as much. Be that as it may, hardly any car can beat the Toyota Corolla annual maintenance cost of just $310.
These prices do warry from one year to the other depending on the vehicle’s age, condition, mileage, and equipment list, but anyway you look at it, the Corolla is king. This is mostly because the Corolla offers superior reliability and value, just like any other Toyota.
Reliable Japanese cars are a reoccurring theme these days, as such, the Honda Accord trails behind the Corolla at around $400 per year for maintenance. Honda Accords are virtually anywhere for decades now, and that’s the reason why the Accord costs so little to maintain.
Spare parts are absolutely everywhere, and almost every mechanic out there has loads of experience working on an Accord. This means that the mechanic can work faster, which in turn lowers the labor costs. Besides these reasons, the Accord is also a really affordable, yet fairly decent automobile.
No wonder that there are a couple of Toyotas on this list because Toyota makes the most reliable cars on the market, by quite a bit of a margin. SUV-wise, the RAV4 is also virtually at every corner of the world right now, which means that parts are easy to come by, and cheap.
That being said, the RAV4 costs around $430 when it comes to maintenance costs, which is substantially less compared to other, more premium SUVs in this segment. Toyota tends to prioritize reliability, affordability, popularity, and serviceability, all of which bring the maintenance price down.
At just $407 per year, the CR-V manages to earn the number one spot as the cheapest true SUV to maintain and run. The reason why is more or less the same just like with all the rest of the cars listed here. The CR-V is a well-built, popular, and affordable SUV.
People know what they are going to get when a new CR-V comes out, and that’s why people love them so much. Through each generation, Honda has managed to build a reputation for strong, durable, and fairly-priced SUVs, all of which works in favor of value retention.
I’ve listed the MX-5 here because you can’t get a better value sports car any other way. At just $429 per year, the MX-5 is the best sports car in the world as far as maintenance is concerned. Besides such low maintenance costs, the MX-5 is cheap to buy anyway, new or used.
Any way you look at it, if you want a sports car, it is hard to go against the MX-5. There are many of these knocking about, and they are really easy to work on and tune. Great handling, superior agility, and a roof-down experience are what make the MX-5 a great convertible sports car.
Which cars cost the most to maintain?
According to a few reputable finance experts and service shops, BMW, Mercedes, Cadillac, Volvo, and Audi cars have the highest maintenance costs over time. However, the most expensive 21st-century car to maintain is undoubtedly the Bugatti Veyron.
If you want an oil change, you are looking at a $20k-25k bill. If you want a set of new tires, you are looking at a $42k bill. After you’ve changed your tires a few times, you will eventually have to change the wheels as well, and that can cost upwards of $50k.
Why do some cars cost more to maintain than others?
It is a well-known fact that supercars tend to cost the most to maintain. This is because these cars are made in limited quantities, they often use exclusive parts and high-performance components which are made to adhere to more rigorous safety and performance standards.
Furthermore, spare parts are not readily available and insurance, fuel, and registration costs are also expensive. Moreover, such cars often offer futuristic technologies which cost a lot to maintain, and not all that many mechanics out there are licensed to work on such cars.
Do EVs cost less to maintain than regular cars?
On average, EVs do cost less to maintain because they offer way fewer parts that need replacing and servicing. Furthermore, there is no need for an oil change because electric engines don’t even use oil.
There are simply not as many parts that can go wrong with an EV. Of course, if you need to replace your battery, such benefits will evaporate because batteries can cost upwards of $10k to replace. In any case, if everything goes according to plan, EVs do cost considerably less to maintain.