Consumer Reports Reveals 10-Year Vehicle Maintenance Costs

Consumer Reports has released its latest Annual Auto Survey, shedding light on the maintenance and repair costs associated with nearly 300,000 vehicles over a ten-year span. The survey provides a comprehensive analysis, revealing that the average expense for maintaining and repairing a vehicle, excluding collision repairs, amounts to approximately US$7,856, which translates to CDN$10,859 at current exchange rates.

The findings highlight significant variations in costs depending on the brand, prompting Consumer Reports to rank manufacturers according to their average maintenance expenses. This ranking may surprise many, particularly as some luxury European brands can cost up to three times more in maintenance compared to more budget-friendly options.

Understanding the Costs

The Consumer Reports Auto Team emphasizes the importance of understanding these costs, stating that “knowing how those costs differ by brand can inform how you budget for expenses with your current car and steer your next purchase decision.” The disparity in costs can reach thousands of dollars, making it essential for consumers to be aware of the financial implications of their vehicle choices.

The survey details maintenance and repair costs by brand over a ten-year period, showcasing the following figures (in US$):

– Tesla: $5,050
– Lincoln: $5,200
– Buick: $5,300
– Toyota: $5,300
– Hyundai: $5,680
– Nissan: $5,935
– Ford: $5,950
– Mazda: $6,020
– Chevrolet: $6,050
– Honda: $6,130
– Jeep: $6,470
– Kia: $6,500

The data further reveals that the average for mass-market brands is $6,501. In stark contrast, luxury brands tend to be significantly more expensive, with an average of $9,420. For instance, models from Porsche and Land Rover can lead to maintenance costs exceeding $16,000 and $17,450, respectively.

Luxury vs. Mass-Market Brands

Interestingly, some of the least expensive brands to maintain are not always the expected mass-market vehicles. Tesla has emerged as the most economical option, followed closely by Lincoln and Buick. Traditional favorites like Toyota remain competitive, tied with Buick, while brands like Hyundai and Nissan also rank favorably.

In contrast, many luxury brands incur maintenance costs that can be more than 50% higher than their mass-market counterparts. The report highlights that brands such as BMW and Mercedes-Benz exhibit substantial increases in maintenance expenses over a decade, with costs reflecting the higher price of ownership.

The survey also provides insights into maintenance costs categorized by the first five years and the subsequent five years of vehicle ownership. During the initial five years, when vehicles are typically under warranty, maintenance costs are relatively low. In fact, over half of the brands surveyed report costs below US$1,500 during this period, averaging less than $300 annually.

Maintenance costs for the first five years (in US$) include:

– Tesla: $730
– Lincoln: $850
– Buick: $1,000
– Toyota: $1,100
– Ford: $1,100
– Hyundai: $1,130

As vehicles age past the five-year mark, costs tend to rise significantly. The analysis reveals that brands like Toyota lead the way in affordability during the latter half of ownership, with average maintenance costs remaining below US$5,000.

For the sixth to tenth years, maintenance costs (in US$) are as follows:

– Toyota: $4,200
– Buick: $4,300
– Tesla: $4,320
– Lincoln: $4,350
– Honda: $4,585

The results indicate that German luxury brands experience maintenance costs that are often double those of their mass-market peers, with Land Rover topping the list for the highest costs.

Consumer Reports concludes that understanding typical ownership costs can help consumers make informed decisions, potentially saving money in the long run by choosing brands that are less expensive to maintain.

This survey serves as a valuable resource for both current vehicle owners and prospective buyers, highlighting the financial considerations that should accompany car ownership.