How Much Budget Needed for Car Maintenance?

The amount of money you will need to budget for car maintenance will depend on a variety of factors, including the age and condition of your car, your driving habits, and the type of maintenance and repairs that are required.

On average, it is recommended that you budget between 3% and 5% of the purchase price of your car per year for maintenance and repairs. For example, if you paid $20,000 for your car, you should budget between $600 and $1,000 per year for maintenance.

However, it is important to note that these estimates are rough and can vary significantly depending on the specific needs of your car. It is a good idea to consult with a mechanic or refer to the owner’s manual for more specific recommendations for maintaining your car.