Some people buy a new vehicle without thinking about the long-term expenses, especially when the car’s sale price is already a good bargain.
If you drive a Subaru, car maintenance should be less expensive when you comply with the manufacturer’s warranties. You should consider spending extra on extended warranties in case you plan to use it more frequently. An AAA estimate showed that car ownership costs more than $8,000 for those who drive 15,000 miles every year. Fuel would account for a large part of the expenses depending on the model unless you bought a hybrid Subaru.
The Importance of Warranty Coverage
Subaru car owners should save around $100 per month on maintenance expenses or as much as $1,200 per year for the first three years. This is possible through the basic warranty for the same period. However, remember that the warranty might lapse if you have already driven your car for more than 36,000 miles even before the three-year coverage.
The vehicle’s powertrain warranty would last for five years unless the car’s traveled distance exceeded 60,000 miles. These warranties must be available for any U.S. owner of Subaru models between 2000 and 2019. Even if you can’t get an extended warranty from the car dealer, you should look out for these two when you plan to buy a new model.
Your warranty might also have 24-hour roadside assistance, such as emergency gas deliveries, and reimbursements for towing fees. Some ancillary benefits might only be available from some dealers. For instance, you can choose between a limited lifetime coverage on seat-belt warranties or a three-year/36,000-mile warranty on brake pads and other parts.
There are certain limitations for your warranty despite being extensive. These may include regular maintenance like greasing or oil changes, damages from natural calamities, and repairs arising from accidents. You will also pay from your pocket when bringing your car to an unauthorized mechanic.
Alternative Vehicle Options
It’s quite challenging to compare the cost of owning a Subaru than other models such as a Kia or Honda, although the latter two are generally more affordable in terms of maintenance. Some Kia models cost as low as $15,300, and if you’re lucky, you can find one with an automatic emergency brake system at this price.
On the other hand, it’s possible to buy a Honda model for just $17,100. However, you need to look long and hard for these bases prices. Most people usually spend more than $30,000 for a new car. Subaru’s average prices typically fall within the mid-range price point, but you should look past the price tag and compare the long-term costs with other vehicles.
Aim to spend up to 20% of your net income per month on vehicle expenses. Those who want to save money should consider spending a higher down payment to reduce the interest from a car loan if you can’t pay the entire price in cash. A cheaper insurance premium can also reduce your expenses, but take care not to lower your coverage for accidents and personal injuries.