Budgeting for 150,000 miles and Beyond.

Car repairs are expensive when it all comes at once.

Plan Ahead

Planning ahead if you want to have NO car payments for years after the car is paid off is actually quite easy.

I have been in this business for 36 yrs and our tracking system gives me the data of what it costs to keep a car for hundreds of thousands of miles.

Budgeting for the car is usually not considered and it is always a shock when the car needs $800 or more in repairs.

From the day a car is brand new the monthly budget should be $75.

This does not apply to the high end cars like Mercedes,BMW, or large SUV's. They need more expensive Tires,repairs.

The first 2 or 3 years you may only spend money on oil changes and minor service but that $75 should still be set aside untouched. Somewhere around 30,000 - 40,000 miles the first set of new tires and brakes will be needed and the cost will eat up most of that money that has accumulated.

The Data we have accumulated over the 100,000 mile cost of ownership says that the average car costs are about $75 a month. If you have a Budget that is the number you should use.

This includes Oil changes, tires, brakes, unexpected repairs like alternators and starters, steering parts, and normal maintenance, even timing belts.

Plan ahead and it will ease your mind.

Those expensive repairs all at once will be less stressful.