Buying a luxury car has its fair share of perks, but lower maintenance costs are not on the list. It s usually the opposite since premium vehicles are costlier to keep in tip-top shape compared to mainstream models. Consumer Reports did a thorough analysis for its 2023 Annual Auto Surveys by asking owners how much they’re paying on maintenance and repairs.
Over five years, the owner of a BMW pays $1,700 and another $7,800 during the next five years. That brings the grand total to $9,500 over a decade. Archrivals Audi and Mercedes have higher maintenance costs, at $9,890, and $10,525, respectively. Porsches will set you back $14,090 during 10 years while Land Rovers are the worst offenders, at a whopping $19,250.
As Consumer Reports points out, the first several years of ownership shouldn t be much of an issue since the new car comes with a warranty. In some cases, including BMWs, the customer takes advantage of free maintenance periods. Once the honeymoon is over, costs substantially rise as the years go by. CR concludes luxury cars are typically more expensive to maintain over a longer period.
If your top priority is to minimize costs during ownership, Teslas are the cheapest to maintain. The EVs apparently incur only $580 in maintenance costs in the first five years and $3,455 in the following five years. Paying $4,035 in a decade on maintenance sounds like a great deal. However, few consider Tesla a true luxury brand since quality issues are still hurting the company s image.
Consumer Reports says a Buick or a Toyota will cost you $4,900 over a decade, while Lincoln is not far behind, at $5,040. Ford is next with $5,400, followed by Chevrolet with $5,550 and Hyundai with $5,640.
How did MINI fare? A typical owner shells out $1,525 during the initial five years and an additional $6,100 until the car turns 10. That brings the total to $7,625, which is $1,875 lower than the costs of BMW ownership. However, the Oxford-based marque is still the ninth-most expensive car brand to maintain while BMW is fifth.
Source: Consumer Reports
First published by https://www.bmwblog.com
