7 Cars That Could Drain Your Savings Due To Expensive Replacement Parts
There are few things worse for your savings and your sanity than regularly repairing your everyday car, truck or SUV.
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Certain types of cars are known for their high maintenance costs and expensive replacement parts. These typically include anything considered an exceptional or quality vehicle: Luxury cars from Europe (Mercedes-Benz, BMW, Audi, Porsche, Jaguar, Land Rover, Volvo) and high-performance sports cars (Ferrari, Lamborghini, Aston Martin, Maserati, McLaren, Bentley).
Vehicles from brands with a reputation for premium pricing (Lexus, Infiniti, Cadillac) and high-end SUV models (Land Rover, Porsche Cayenne, BMW X series, Mercedes-Benz G-Class) also command steep maintenance and part prices.
But it’s not just European or luxury vehicles that will drain your savings. Some American truck models are wallet breakers too, although it might not be due to the price of replacement parts, but rather the frequency that certain models break down from hard driving. Additionally, electric vehicles and hybrids (Tesla, Toyota Prius) may by costly to repair. Unique battery systems, electric drivetrains and complex electronics are expensive to replace and often require a mechanic specialized in EV repair.
Older or discontinued models have high replacement costs because parts are scarcer and harder to find. The same goes with classic or collector cars, but if you’re dabbling in that world, you’ll be going in knowing the costs of limited and custom parts required to work on your hobby.
Here’s a list of seven specific car brands and model lines that tend to be expensive to maintain due to costly replacement parts.
Ram 2500 to 5500
In one package, pickups offer performance, comfort and utility. They have a huge bed for carrying bulky or heavy objects, as well as a roomy and cozy cabin for passengers. Additionally, a wide range of cutting-edge features that improve performance, safety and convenience are included with current vehicles.
However, among popular American brands, Ram, Jeep, Chrysler, Dodge, Ford and Chevrolet are the top six most expensive brands to maintain over 10 years, according to CarEdge. Four Ram models — the 3500, 2500, 5500 and 4500 — are the most expensive cars to maintain, averaging a 10-year repair cost of $25,411.
Porsche Cayenne
Here is a good example of an auto brand that is known for its reliability, but is also the most high-maintenance luxury brands on the market (in the top 10 most reliable brands, according to Consumer Reports). Premium SUVs often have complex technology, air suspension systems and other high-end components that can be costly to repair or replace and reliable Porsches are no exception.
Overall, Porsches have a 51.17% chance of requiring a major repair during the first 10 years of ownership, which is 16.08% worse compared to the other auto manufacturers in their segment, per CarEdge. The Cayenne is bigger and more powerful than the Macan. It also cost more when new and is more expensive to repair, but only by a little bit (Cayenne 10-year ownership cost is $20,552; Macan’s is $20,137).
BMW X1 to X7
From exotic materials to advanced technology, European cars are not cheap to maintain. Brands like BMW, Mercedes-Benz and Audi are known for their high repair costs due to the intricate engineering and specialized components used in their vehicles.
BMW has a good foothold in America, but they are still a European brand, using unique parts which may require importation. Labor costs are generally higher due to the specialized knowledge and tools needed for repairs. According to CarEdge, if you own any of the X-series vehicles, expect to pay at least $17,516 (for the X1) to $18,900 (for the X6 M) in repairs over 10 years.
Land Rover Range Rover
Owned by Jaguar, Land Rover is known for its rugged four-wheel-drive vehicles that can tackle the toughest of trails. However, RepairPal suggested its models have reliability issues, awarding the brand a reliability rating of 2.5 out of 5.0, which ranks it 31 out of 32 for all car brands.
Range Rovers are driven hard and will cost you on average $735 in annual repair costs in year one and will cost about $18,228 for maintenance and repairs during its first 10 years of service, per CarEdge.
Mercedes-Benz Sprinter Van
There is a 56.68% chance that a Sprinter will require a major repair (anything that exceeds $500, including parts and labor, per CarEdge) during its first 10 years of service. A Sprinter doesn’t have a more intricate engineering or design than a Ford Transit or Ram Promaster, but the Mercedes-Benz brand cachet takes its toll in higher maintenance and repair charges.
Sprinters cost about $18,634 for maintenance and repairs over a decade of ownership, which is 17.12% worse than similar vehicles in this segment. When you add on the extra cost at purchase and filling the tank with required diesel, Sprinters will cost you a lot more upfront and throughout the years.
Porsche 911
When it comes to high-end performance cars, the upfront cost is just the beginning. Many of these vehicles come with expensive replacement parts that can quickly drain your savings if something goes wrong.
With its costly custom-designed parts, advanced engineering and high-performance components, you aren’t going to roll up to your neighborhood garage to get a 911 serviced. Authorized Porsche service centers are rare, leading to higher labor costs, even for simple routine maintenance.
Tesla EVs
Back in January, Hertz announced it was selling 20,000 electric cars — about a third of its fleet — due to their higher cost of repair and service. Although the company blamed Tesla for not providing volume discounts and hurting resale values by continually slashing prices on its new models, EVs in general require less service, but repairs can be expensive.
According to a 2023 Mitchell report, the average crash repair costs for all EVs were $950 higher than for gasoline vehicles. “A big chunk of that figure, though, was driven by higher repair costs for Teslas, the biggest share of EVs on the road in the U.S.; the average for all EVs excluding Teslas was just $269 higher,” the report explained.
Tesla vehicles, by far the most common EVs in the U.S., are the most expensive to repair, mainly due to their advanced technology, needing replacement parts that can’t be found at third-party suppliers and specialized repair shops. More labor is required on EVs and many are considered luxury cars, so their more expensive regardless of their propulsion systems.
Cars of all makes and models are much more expensive than they were just a few years ago. To manage costs, consider cars with a reputation for reliability and lower maintenance costs. Brands like Toyota, Honda and Subaru often score well for affordability and ease of maintenance. Additionally, consider the total cost of ownership, which includes factors like insurance, fuel, maintenance and depreciation.
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This article originally appeared on GOBankingRates.com: 7 Cars That Could Drain Your Savings Due To Expensive Replacement Parts
