Economics of Maintenance for Livonia Auto Owners
March 7, 2017
Buying a new car in Livonia is always a big financial decision. The allure of that new car smell is powerful, to be sure. But what if your current car is still in good shape? How do you decide?
People in Livonia who've been used to driving a new car every three to five years may be having second thoughts in this economy. For many, the question is, how does the certainty of a new car payment stack up against uncertain repairs for a car that may be out of warranty?
For purposes of our discussion, let's assume you live right here in Livonia and have a five year old vehicle. It's now paid off. If you keep it, you fear that there'll be some repairs over the next five years, but you really don't know what to expect. For help we turned to maintenance and repair information for cars and trucks. With this data, they project likely service and repair costs for a particular make and model. They're able to use manufacturer's maintenance schedules and repair histories for the projections.
Of course, these projections can't predict what will happen to your vehicle in Livonia, but they do give you information to use in your decision.
Let's look at the numbers for a five year old Toyota Camry V-6. In this example, the combined maintenance and repairs for the five year period is $5,748. This works out to an average of $96 a month. The year-by-year averages range from a low of $49 a month to $124 a month.
So compare $96 a month with a new car payment. And it's actually better news than that; you would still have maintenance expenses with a new car, so the repair element could be less than half that figure.
Here are numbers for some other five year old vehicles from around Livonia:
- Ford Escape - $116 a month
- Chevy Silverado - $131 a month
- Jeep Grand Cherokee - $138 a month
- Hyundai Accent - $85 a month.
Now, if your vehicle is older than five years, have a chat with your Livonia service advisor at Auto Lab Livonia. We see hundreds of vehicles through our bays every month and we know your car. See if there's any particular problem in common with your vehicle that you might see over the next couple of years.
And of course, the best way to keep future repair costs down is to take care of all your scheduled maintenance. This is especially important in older vehicles that have had time to accumulate some deposits.
There are special motor oil formulations that help clean older engines and protect and recondition their seals and gaskets.
We hope this eliminates some of the unknowns in the decision to keep or trade.
Give us a call if you have any questions.
Auto Lab Livonia
36251 Five Miles Rd
Livonia, MI 48154
734-432-6000
http://www.autolablivonia.com
Need Service?
More articles from Auto Lab Livonia
Flat Tire? Three?s the Charm (Tire Repair)
December 8, 2024
For most drivers, at some point youre going to have a flat tire. Depending on how it was damaged, it may have to be replaced. But sometimes, a repair will do the trick, as long as the puncture isnt on the sidewall and the hole is smaller than inch/6.35mm in diameter. Here are the three common w... More
Alleviate the Creaks and Squeaks (Chassis Lubrication)
December 1, 2024
If your vehicle creaks and squeaks when you drive down the road, it may mean that some of the metal parts are rubbing against each other and need to be lubricated. Those could be parts of the suspension, steering system and the drivetrain. Years ago, most vehicles had to have their chassis (wha... More
How Tired Are Your Tires? (Tire replacement)
November 24, 2024
Of the things you think about most, your tires are probably pretty far down the list. Thats understandable because todays tires are engineered to do their job without needing you to pay too much attention to them. But they DO wear out, and worn tires can contribute to skidding in bad weather, not... More