Average cost of car maintenance: 2024 estimates [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Yahoo! Finance
Drivers of newer vehicles should get their oil changed every 5,000 to 7,500 miles. Over half (56 percent) of U.S. adults wouldn't pay for an emergency expense of $1,000 or more, like a vehicle repair, from their savings account. The price of vehicle ownership adds up. When the time comes to purchase your next car, you must consider the full cost of vehicle ownership — trips to the mechanic included. Though services range in cost, AAA found that drivers put an average of $12,182 toward their new cars in 2023. This is a $1,454 increase from the previous year. With more expensive vehicle prices, it's important to prepare for additional costs when budgeting for a car you can afford . Research the average annual costs of different vehicle types and brands to estimate how much a car will cost you over the course of ownership. How much does vehicle maintenance cost? Drivers in 2023 averaged 9.83 cents per mile driven on maintenance, repairs and tire replacement, according to AAA.
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