Luxury vehicle repairs are very costly but normally the person purchasing that luxury vehicle hardly ever thinks about the cost of the luxury vehicle repairs. When it comes to owning a luxury vehicle, every one of us may fit into a certain mindset. The person who will always drive luxury (for status, technology, quality, brand loyalty), the person who just ventured into the world of luxury vehicles (entry-level luxury vehicle or your first luxury vehicle purchase), or the person who avoids the expense of a luxury vehicle at all costs (for a number of potential reasons). Regardless of your personal preference for owning a luxury car, there will always be a standard characteristic of the proud group, they pay more. It isn’t our intent to dissuade you from going luxury. There are certainly benefits. But do so in an informed manner. So, if you own or plan to own a luxury vehicle, know what you’re getting into once you’ve had to go into the shop.
Luxury vehicle repairs, how much do they cost?
Our intention is to educate you on the cost of luxury vehicle repairs, but we’d be doing you a disservice if you didn’t factor in the upfront and ongoing costs of that beautiful rolling trophy. Most luxury cars run on premium fuel, which is $0.40 more expensive than regular fuel on average. At the national averages of fuel economy and annual mileage, that’s going to run you an extra $500/year. Insurance is another factor, with luxury brands coming in around $500/year more expensive than economy vehicles. Without factoring in the purchase price, you’re looking at an extra $1000/year sans-repairs. Basically, performance/luxury = performance fuel + performance tires + luxury accents + everything else. It remains something you may have already known, but something to keep in mind.
How much do luxury vehicle repairs cost actually differ from repairs on economy vehicles?
Knowing luxury expenses isn’t just knowing that there simply is a difference. For example, German luxury (BMW, Audi, Mercedes) will run you more than Japanese luxury (Lexus, Infinity). According to bankrate.com, Japanese luxury repairs may run only 25%-40% above domestic repairs, while German luxury could be double. Also, luxury doesn’t always mean more dependable, and the luxury vehicle repairs will cost you more that’s a fact. The graphic below shows J.D. Power’s dependability study and you’ll see all brands, luxury, and now, scattered in their overall reliability. The repairs on luxury cars don’t always come back to the parts. While those are more expensive and higher quality, the labor in repairing a luxury vehicle is more expensive, often times requiring more skill and experience from a mechanic. For example, forbes.com estimates that the average luxury labor costs will be around $80/hour more expensive than domestic or economy vehicles. Therefore, when that luxury vehicle starts to hit a certain age that makes it more vulnerable to timely and more involved repairs, you could be looking at a much heavier bill.
All being said, we still don’t advise for or against purchasing or owning a luxury vehicle. A commitment to maintenance and a little TLC will help keep your vehicle on the right track. Visit our vehicle maintenance blog for more on how to cut down on repairs and take proper care of your car. Our extended auto warranty blog will teach you what you need to know about being covered in the event repairs are a necessity, which at some point, they will be. And as always, call us immediately if you have any questions.