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Blog

The Economic Value Of Regular Car Maintenance

Second only to the home, your vehicle is the most expensive thing you own. And yet, while most Canadians willingly spend thousands of dollars purchasing a vehicle, many balk at the idea of investing a few hundred more into regular car maintenance.

Fortunately, it doesn’t take much to protect your investmentone study by CAA estimates the average cost of routine scheduled car maintenance around $500 to $700 per year, and that’s without factoring in our proven cost control policies.

Read on to learn more about the economic value of regular car maintenance, or contact your local TIRECRAFT to get a quote straight away.

The Economic Value Of Regular Car Maintenance

Beyond preventing costly and catastrophic vehicle failures, regular car maintenance can save you money on:

  • Depreciation—“Depreciation is the loss in value your car incurs over time,” says David Wurster, President of Vincentric, a transportation data company focused on improving car maintenance costs, in a new CAA report. “In the first year of ownership your vehicle’s value drops on average 30%, and between 60-70% in the first five years.”

    Investing in regular car maintenance greatly reduces your vehicle’s depreciation rate, especially if you get your vehicle serviced according to the manufacturer’s recommended schedule. If you plan to sell your car down the line, hang on to those maintenance receipts.

  • According to Bridgestone Commercial, tires are the number-one car maintenance cost, so you’d do well to keep them in shape, whether you’re a long-haul trucker or a white collar commuter. Beyond seeking timely repairs as needed, that means investing in regular tire balancing, rotation, and inflation service to help evenly distribute tread wear.
  • Gas prices. Regular car maintenance can save you hundreds of dollars at the pump every year. For example, simply switching to the right type of motor oil can improve fuel efficiency by 1-2%. Likewise, staying on top of your tire pressure can also improve fuel efficiency; in fact, according to one study published by CBC, every five pounds per square inch (psi) of tire pressure you lose reduces your gas mileage by 2%!

Get More For Your Money: Save On Essential Car Maintenance At TIRECRAFT

Regular car maintenance saves you money, and TIRECRAFT regularly saves you money on car maintenance!

Your local TIRECRAFT has a number of cost control policies in place to help you save more on essential car maintenance services, including:

  • MyTIRECRAFT Rewards—Accumulate rewards points with every car maintenance service, then spend them like cash to drive down the costs of your next service or part purchase.
  • Regular car maintenance packages—Take advantage of bulk buy discounts by bundling your regular car maintenance services together in one of our seasonal tune-up deals
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  • Free car maintenance services—Sign up for the Advantage Plus program and get free tire rotations and flat tire repairs, plus extended road hazard coverage.

To learn more about our cost control policies, or to book a free car maintenance consultation, contact your local TIRECRAFT.

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