RSS Feed

Related Articles

Related Categories

6 unexpected vehicle costs and how to avoid them

6th August 2022 Print
car mechanic

Cars can be very expensive to buy, run and maintain, and often have unexpected maintenance costs that you do not see coming. In 2021, the average cost of a new vehicle was $42,258 with an average payment of $563 per month.

This average cost increases year on year and even when you know you can afford the car itself, you need to be able to budget for additional costs such as insurance, parking, fines, fuel and maintenance. While new cars should be in excellent condition, all cars will eventually need repairs as parts age or become damaged. 

Here are some of the different types of unexpected costs you may face when owning a vehicle and how you can avoid them:

Replacing tires

While the cost of tires is one of the smaller maintenance and repair costs you might face in the long term when owning a vehicle, these costs do add up, particularly if you are driving long distances and wearing down your tires quickly. 

Having to replace your tires is unavoidable, however there are steps you can take to reduce the frequency at which you need to do this. For example, having all-weather tires can help ensure they last all year round and checking the pressure regularly will help you keep them inflated and prevent damage.

You should also make sure you’re buying high quality tires from brands such as Pirelli or Atturo from sites online to reduce costs and have them delivered to your home or local installer.

Paying for your car to be towed in the event of a breakdown

Something else you may not have considered is the cost of towing your car if it breaks down. Car breakdowns are something we all hope won’t happen to us but even if you keep up with your car’s maintenance schedule, these things can still happen unexpectedly if you are unlucky. 

To avoid this happening, keep on top of any issues that your car has and have it serviced regularly. Paying for a roadside assistance plan can also help prevent being faced with a large, unexpected bill.

Paying for parking or speeding fines

Even the most law-abiding citizens can occasionally make mistakes, whether it's parking in a place you are not authorized to do so or going a little over the speed limit when in a rush. Of course, you should never speed as the safety of yourself, and other road users is far more important than showing off or getting to a destination on time.

The easiest way to avoid these fines is to be extra vigilant to signage, including speed limit indicators and signs on roadsides and parking lots. Paying off parking fines promptly will reduce the amount you have to pay in some incidents.

Increased insurance premiums

There are several reasons your premium may have unexpectedly increased when you go to renew your policy. For example, if you have been in a collision your costs may go up as a result.

Also, you might move to an address in a different zip code or purchase a car that the insurance company deems to be a higher risk of theft. 

It is wise to get an insurance estimate before purchasing the car if you are concerned about costs, you should also shop around for the best deal and avoid remaining with the same insurer out of convenience. 

Car value depreciation

Naturally, typically cars will depreciate over time. This will impact you the most if buying a brand-new car, it depreciates as soon as you drive it off the lot.

This is not something you can avoid but should be prepared for.

Replacing your keys if lost

Modern car keys can have high tech features and so they can be more expensive to replace if lost in comparison to simple manual keys. Look after your key and look to see if your insurance has an option that provides coverage for replacing a lost key.

More Photos - Click to Enlarge

car mechanic