What Your Car's Maintenance Schedule Is Actually Costing You Per Month (and Which Services You're Overpaying for)
When it comes to car costs, you may be wondering if you’re paying too much. One of the figures most often cited is that from AAA, which noted the average car owner spends around $66 a month in maintenance costs.
“Most drivers budget around $66 to $100 a month for maintenance, but that number hides the real story,” said Andrew Lokenauth, founder of the blog Fluent in Finance. “AAA pegs routine upkeep near $800 a year, yet once you factor in surprise repairs, the true average climbs closer to $80 to $110 a month.”
Read on to help you better gauge how you’re doing when it comes to a car maintenance budget and some ways to save.
Think About Essential vs. Optional Services
The exact amount you’ll spend each month depends on factors like the type of vehicle you drive, the age of it and how carefully you maintain your car. In general, according to Annie Cole, EdD, money coach and founder of Money Essentials for Women, there are a couple of essential services that you shouldn’t overlook. These essentials include regular oil changes and anything safety related such as brake pads and tires.
However, Cole noted there are other optional services that require a closer look before spending money from your budget:
Anything that you can do yourself easily without paying for the manual labor.
Anything related to cleaning and aesthetics that aren’t essential to the car running properly.
Common upsell items like coolant flushes or paint protection packages (although they can be helpful, they aren’t essential).
Consider Your Location Options
“My rule is simple: Stick to what's actually in your owner's manual, not what the service advisor recommends on the spot,” Lokenauth added.
Where people overpay the most is on brake pad replacements and battery swaps done at the dealer instead of an independent shop, Lokenauth said.
“Labor rates at dealerships run 20% to 40% higher, and you're often paying for the same part,” he explained. “I always tell my readers to get a second quote before any repair over $300. It's saved me thousands over the years, and it's the single easiest way to stop your maintenance budget from quietly bleeding you dry.”
Use Caution With Recommended Maintenance Schedules
While Melanie Musson, an auto industry expert with AutoInsurance.org, said your car’s manufacturer-recommended maintenance schedule is a very good guideline to follow, she urged some caution.
“If you’re following a maintenance schedule that demands oil changes every 3,000 miles, you’re probably overpaying for service because most cars require synthetic oil, and synthetic oil lasts over 5,000 miles,” Musson noted.
In addition, per Musson, if you’re following a schedule for brakes, you may be overpaying. Brakes need to be changed when they need to be changed, but when that happens depends on the kind of driving you do, she added. For example, urban drivers tend to need brakes more often than rural drivers.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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