Decades of jokes and arguments are usually related to Bring Out Another Thousand, but fancy cars with expensive parts are long after the original purchase has paid off. , can be a financial burden.
Also, maintenance costs aren’t necessarily directly related to the gaudiness of the car itself.According to recent analysis of maintenance and parts data by his ClunkerJunker, an auto resale platform, cargo vans like the Stellantis (FCAUMore) – Get Free Report RAM Promaster City and Kia Motors (KIMTFMore) Due to the special nature of its components, the Rio 5 has the highest maintenance costs after ten years of purchase.
Promaster City owners can expect to spend more than 62% of the car’s retail price (about $25,000 as of January 2023) within 10 years of purchase.
“Many of the most expensive parts to maintain are large freight trucks and vans that often require specialized parts and high-quality materials,” the study’s authors wrote in the report.
Which car should I avoid if I don’t want to go bankrupt on maintenance?
Speaking of everyday cars, Toyota (Toyov) is the brand with the lowest overall maintenance costs. His 10-year maintenance costs for the Japanese automaker’s average car are only 13.41% of the price, while models such as the Land Cruiser and Sequoia are 7.29% and 8.50% respectively. .
But Tesla was 7.09%. (TSLA) – Get Free Report It tops the list for both luxury vehicles and overall vehicles due to the low need for repairs. By contrast, the average BMW (BMWYY) The owner will lose 25.34% of its value in 10 years.
“Tesla’s range is the cheapest to maintain, with the entry-level Model S hatchback costing only 4.6% of its value to maintain over 10 years, slightly cheaper than the Model X SUV,” the study’s authors wrote. there is “Interestingly, some performance cars are among the cheapest models: Nissan GT-R (5.2%), Audi S8, Chevrolet Corvette (both 7.5%) and Porsche 911 (8.7%). It’s less than a tenth the price of the showroom, and it’s worth it to keep it running for 10+ years, despite the powerful engine.”
With car prices soaring, maintenance affordability is key
Other luxury car makers topping the list for high maintenance costs include Volvo (VLVOF) Tata Motors (TENHF) Jaguar and Land Rover.
Lexus and Porsche (exploded) On the other hand, the maintenance costs of are relatively low at 12.28% and 17.27% respectively. The cheapest models of average-priced cars also include the Toyota Supra (8.56%) and GMC. (GMC) of Yukon XLs (9.95%), GMC and Nissan offer the most affordable maintenance overall, second only to Toyota.
“With its origins dating back to the Korean War in the 1950s, Toyota’s Land Cruiser has always been synonymous with reliability,” the report’s authors write. “In 2019, the brand sold his 10 millionth model of his famous SUV, a vehicle trusted by drivers around the world for its reliability and longevity.”
As the price of both new and used vehicles rises, longevity is already a factor that is beginning to increasingly factor into many people’s purchasing decisions. With the global semiconductor shortage, there is a long wait to buy a new car, and so are those who do. In November 2022, they were paid an average of $2,250 more than they were a year ago.
Auto parts are similarly prone to inflation and shortages.