While most folks consider items like reliability, safety, and pricing before deciding on a vehicle, many forget to factor in long-term maintenance into the cost of a vehicle. It may surprise no one to learn that different brands have different ownership costs, and with that in mind, Chevy was rated as one of the more affordable brands on a total 10-year cost basis.
According to a report from Consumer Reports, the Bow Tie brand was ranked sixth overall in regard to ownership costs over the course of a decade at $5,400. For reference, Tesla stood at first overall at $4,035, while Buick followed in second place at $4,900 over 10 years. Meanwhile, Land Rover was by far the most expensive brand at $19,250.
It’s worth noting that the data can get cloudy for newer vehicles, as factory warranties cover many repairs and maintenance while the vehicle is still fresh. As such, cost-to-own figures can skyrocket following expired warranties.
Some general trends found in the study include clusterings of brands. More specifically, German automakers – like Audi, BMW, Mercedes-Benz, and Porsche – were bunched toward the bottom of the list as more expensive brands, while five of the six most affordable brands were American automakers.
“The difference to maintain a car on average between some brands can be thousands over a 10-year time frame,” Consumer Reports’ Auto Data Analytics Program Leader Steven Elek noted. “Also, expensive luxury vehicles are often quite expensive to maintain as well over time.”
“If you are considering a luxury model, it may be wise to purchase one from a domestic brand that may have lower maintenance and repair costs,” Elek continued. “For example, over 10 years, Mercedes-Benz models are more than double the cost to maintain and repair as those from Lincoln.”
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Comments
I think a lot of us knew this instinctively, but it is nice to have it confirmed. All vehicles are money pits, but if you are stuck in a shallower pit, you can see farther ahead than those other guys.
Gm vehicles especially trucks always had a lower cost of ownership and good reliability ! Thanks to platform sharing and standerdized parts ! Thats why all ive ever owned for 45 years is gm products !