Whether you own a car or you’re just sharing with your significant other, budgeting for yearly car maintenance is necessary if you want to keep it running as long as possible. In 2013, the average age of a car on the road was 11.4 years old, and that’s not going to last forever. It can be tough knowing how much money you should budget for car maintenance altogether, since costs will vary depending on what type of car is being taken care of and where you live. If this sounds confusing, there are only three main things that need to be budgeted for: oil changes, regular check-ups and gas. Further information on budgeting for these things will be discussed in the following sections.
What Do Oil Changes Cost?
An oil change is necessary to budget for because it needs to be budgeted for annually. You can budget around $50 every year to get your oil changed by a professional, but that is not an exact figure. More specifically, it will cost around $25-45, depending on where you live and what type of car you have (gas is more expensive in southern states). Checking your owner’s manual can give you an idea of how often your car needs one; they all vary. For example, the manual may say every 3 months or every 5,000 miles . If it isn’t clear how often, budget for a yearly oil change.
Yearly Car Maintenance
Because you have to budget for oil changes once a year, budget around $100 every year for regular car maintenance. That includes things like checking fluid levels and rotating tires. Some people also budget for new windshield wipers every year, but it’s not necessary if yours are still in good working order. Just be sure to check your manual or ask an expert what type of wiper blades you should get.
How Much Does Gas Cost
An easy way to budget for yearly car maintenance is budgeting for gas. The average American spends around $150 a month on gas, and that figure includes budgeting for oil changes (although it doesn’t account for budgeting to get your oil changed, just budget for the cost of filling up with gas).
If you want to budget around $150 per month on gas, look at what your manual says about your tank capacity. It will tell you how many gallons of gas your car needs. That number should be multiplied by the mileage of your car per gallon to give you an idea of how much money you’ll be spending on each trip to the pump (you can find this information online or ask a mechanic). If you’re budgeting for more than one person, budget that the average person spends around 35 miles on a gallon of gas. While budgeting for yearly car maintenance, don’t forget to budget for things like getting new windshield wipers every once in a while!
Budgeting for car maintenance can be easy if you know what to budget for and when to do it. Remember that budgeting can change depending on where you live or what type of car you have, so be sure to budget for that. Budgeting is the most helpful when you know what budgeting for car maintenance entails, so hopefully this guide will help you budget accordingly.