Budgeting for Car Maintenance

It’s no secret that having a car is costly. Between routine car maintenance and unexpected surprises, having a vehicle often creates a huge dent in our wallets. Not to mention the regular upkeep of gas, car washes, and maybe a parking ticket here or there.

And while it’s easy to budget for a routine oil change or tire rotation, the most costly repairs usually come at a time when we’re not ready for them. And more often than not, our bank accounts aren’t ready for them, either. That’s why Kennedy Transmission Brake & Auto Service is sharing this simple tip to ensure drivers in Minnesota and North Dakota are prepared when the unexpected happens.

Calculating the Cost of Car Maintenance

Several households function on a budget. Gas, groceries, bills, loans – the list is virtually endless. But what most people don’t budget for are car repairs. We understand that routine car costs only come up once every few months, so it’s easy to forget. But if you budget for everything else, why not budget your car costs?

Getting started is simple. Edmunds.com has a helpful calculator that estimates how much it will cost for routine maintenance. Simply put in the year, make, and model of your vehicle, along with the mileage and your zip code, and it will give you a rough estimate of how much you should expect to pay when you get your vehicle serviced.

Now that you’ve calculated how much you can expect to pay, here’s where budgeting comes into play. You might assume we’re asking you to set that amount back every three months, or whenever you get your oil changed, coolant flushed, tires rotated, or any other routine service. Not so fast!

Preparing for the Unexpected

As we mentioned earlier, it’s easy to budget for things when you expect them to happen. If you know you have a vacation coming up, you probably put more back in savings than you normally do. Same if you’re saving up to buy a car. But how do you financially prepare for the unexpected? What if your car overheats and you’re suddenly left to replace your entire engine? What if your power steering goes out and you have to pay for an entirely new system?

The answer is simple: You budget for it. That number you calculated for routine maintenance – don’t set it aside for when you need it, set it aside every month. Think of it as a personal savings account just for your car. Sure, you won’t use it every month, but it will help you be prepared for costs you can’t see coming down the road.

Stay Prepared with Kennedy Transmission Brake & Auto Service

As always, the best method to prevent future costly repairs is staying on track with your scheduled maintenance, no matter how old or new your vehicle is. By doing this, our experienced technicians will be able to diagnose any problems that could come up in the future. Use our shop locator to find a location nearest you, and then give us a call to schedule your service today!