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 service—such as oil changes and tire replacements—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.

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]