Budgeting for Car Maintenance

When you're looking to buy a car you shouldn't use your entire budget on just the car note. There are operational costs to owning a car that include fuel, insurance, and the cost of maintaining the car. These costs should be added to your budget when shopping for a car. But how much should you budget for repairs and maintenance?

The cost of repairs and maintenance depends largely on the car you decide to buy. Luxury brands like Audi and BMW will cost more to repair than mainstream brands like Ford and Honda. The labor and parts for cars vary based on the manufacturer. Mechanics can easily work on cars that are more common, and the parts are less expensive.

Even though costs may vary depending on the car, you can still get an idea of what to expect to pay for routine maintenance. Budget for an oil change every 5,000-10,000 miles, new tires, brakes, etc. It's also a good idea to keep an emergency fund for unexpected repairs.

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