When it comes to owning a car, the expenses don’t stop at the purchase. Regular maintenance, unexpected repairs, and replacements can quietly creep up, especially if you haven’t planned ahead.
Whether your vehicle is fresh off the lot or a used one, a solid car maintenance budget can save you from stress and keep you prepared for sudden breakdowns.
But how much should you really be setting aside, and what kind of parts or services actually eat up the most money? Let’s break it down.
Why Budgeting for Maintenance Matters
Cars are machines – complex, constantly moving, and prone to wear. Even if you drive carefully, some parts wear out with time.
Budgeting for your vehicle helps you:
- Avoid unexpected financial strain
- Catch minor issues before they become big (and expensive)
- Keep your car running efficiently
- Maintain resale value
If you continue to ignore maintenance due to the costs, it will backfire. Saving money now could lead to a repair bill many times higher later.
So, spend wisely by budgeting.
What to Include in a Maintenance Budget
While costs and needs vary car by car, it’s generally best to save at least $100 every month and set it aside for unexpected repairs and replacements.
The main expenses to factor in include:
- Oil changes and fluids. These may be more frequent, but the costs are manageable.
- Brake pads and rotors. These can cost a few hundred, depending on the model.
- Tire maintenance, including rotation, alignment, and replacement. Make sure the tires wear evenly.
- Battery. It should be replaced every 3 to 5 years.
- Belts, spark plugs, and filters. These are often part of scheduled service at a certain mileage.
Also, make sure to keep a buffer fund. You never know when and how things could go wrong. Being unprepared or panicking can exacerbate the situation.
Consider Replacement Parts
A massive chunk of your car maintenance budget might go into replacement parts, and you have more control over this than you think.
For example, shopping from reliable online platforms like Ovoko gives you access to affordable, used car parts that are compatible with hundreds of makes and models.
Second-hand doesn’t always mean poor quality. In fact, you can get the same quality and performance as brand-new ones at a fraction of their price.
How to Plan Ahead
If you’re not sure how to start budgeting for maintenance for the next year, follow these steps:
- Track previous costs. Review your old service records to determine your typical spending. Use this information to create a realistic budget.
- Use a car maintenance calculator. There are online tools that help you estimate the average yearly costs based on your model.
- Set up a sinking fund. Set aside a small amount of money each month in a separate car maintenance account. You can even open a new savings account for it.
- Stay ahead of schedule. If you know that a specific car part will need replacement in the next few months, start saving money now.
