How Much It Costs to Own A Car: Tesla Tops the List

Car maintenance costs were lowest for Tesla among major brands for long-term vehicle ownership, according to a new analysis based on a 2024 annual auto survey by Consumer Reports.

Consumer Reports said it reviewed how much drivers spent over the past 12 months on maintenance, repairs, and serviceβ€”such as oil changes and tire replacementsβ€”and used that data to estimate longer-term costs. The analysis covered 28 brands and excluded collision repair costs as well as price changes tied to inflation and tariffs.

Tesla Model 3
Tesla had the lowest total cost to own among other auto brands. [Courtesy of Tesla]

The report found the lowest total cost to keep the same vehicle for five years was Tesla, at $730. Consumer Reports attributed the lower cost to warranty coverage and fewer consumables that need regular replacement.

After Tesla, the report cited Lincoln and Buick at $850 and $1,000, and Toyota at about $1,000.

Among Korean brands, Hyundai ranked high, with a total of $1,130 over the first five years, placing sixth overall. Kia was lower in the ranking, with $1,700, placing 18th.

Consumer Reports noted that some brands, including Hyundai, often include free inspection services with new-car purchases, and most new vehicles are covered by warranties for the first three years, helping keep early ownership costs down.

Other brands with relatively low five-year costs included Ford ($1,100), Cadillac ($1,175), and Chevrolet ($1,200). Higher totals were reported for BMW ($1,700), Lexus ($1,750), Subaru ($1,750), and Acura ($1,845).

The most expensive five-year total was Porsche at $5,000, followed by Land Rover ($3,700) and Mercedes-Benz ($3,500), showing a wide gap across brands.

The report said maintenance and repair costs rise sharply as vehicles age, and the differences between brands become larger over time. In a 10-year total comparison that combines years one through five and years six through 10, Tesla again had the lowest cost at $5,050. Toyota was close at $5,300, while Hyundai totaled $5,680, moving up to fifth place. Kia totaled $6,500, ranking 12th.

Consumer Reports also found that some imported luxury brands tend to see costs jump once warranty and free-service periods end. It said Mercedes-Benz, Porsche, and Land Rover had 10-year totals thousands of dollars higher than Volvo and BMW.

The highest 10-year total was Land Rover at $17,450, followed by Porsche at about $16,000. Mercedes-Benz totaled $13,100, and Audi totaled $11,050, meaning each exceeded $10,000 over 10 years.

Steven Elek, an automotive data analyst at Consumer Reports, said luxury imported vehicles often become more expensive to maintain over time and suggested shoppers factor long-term maintenance and repair costs into their decisions when considering premium brands.

BY HOONSIK WOO [woo.hoonsik@koreadaily.com]