Saturday, November 28, 2009, 8:41AM ET - U.S. Markets Closed.
There's more expense to a car than the purchase price
Anyone in the market for a new car this year should factor in a number of other costs, such as the interest rate on the loan, depreciation, reliability, fuel economy and -- not to be overlooked -- maintenance and repair.
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Consumer Reports magazine says maintenance and repair costs combine to equal about 4 percent of the total cost of owning a car over the course of five years.
Maintenance includes scheduled work -- like oil changes, tuneups, filter replacements and tire rotation -- and unscheduled replacements such as batteries, brakes, tires and exhaust systems. Many repairs are covered by a new car's warranty, especially in the first few years, but can mount up after the warranty expires.
Here's a look at what are expected to be the 10 most expensive and the 10 least expensive 2008 model cars for maintenance and repairs over a five-year time frame.
| 10 Most Expensive |
Ranking | Make/Model | Maintenance | Repairs | Total |
1 | Dodge Viper | $8,209 | $2,114 | $10,323 |
2 | Jaguar XK-Series | $5,456 | $4,171 | $9,449 |
3 | Jaguar XJ-Series | $5,299 | $4,150 | $9,449 |
4 | Land Rover Range Rover Sport | $4,910 | $4,317 | $9,227 |
5 | Land Rover Range Rover | $4,678 | $4,317 | $8,996 |
6 | Mercedes-Benz SL-Class | $5,963 | $2,793 | $8,756 |
7 | Mercedes-Benz CL-Class | $5,988 | $2,742 | $8,730 |
8 | Land Rover LR3 | $4,424 | $4,213 | $8,637 |
9 | Audi RS4 | $6,164 | $2,442 | $8,606 |
10 | BMW Alpina B7 | $6,018 | $2,516 | $8,534 |
| 10 Least Expensive |
Ranking | Make/Model | Maintenance | Repairs | Total |
1 (tie) | Suzuki SX4 | $2,615 | $596 | $3,211 |
Honda Element | $2,518 | $693 | $3,211 | |
3 | Nissan Versa | $2,587 | $654 | $3,241 |
4 | Hyundai Accent | $2,724 | $569 | $3,355 |
5 | Kia Sedona | $2,786 | $569 | $3,355 |
6 | Honda Pilot | $2,678 | $703 | $3,381 |
7 | Hyundai Veracruz | $2,786 | $611 | $3,398 |
8 | Suzuki XL7 | $2,794 | $609 | $3,403 |
9 | Honda CR-V | $2,708 | $703 | $3,410 |
10 | Mazda Tribute | $2,686 | $769 | $3,455 |
| Source: Edmunds.com * Figures assume 15,000 miles driven per year for five years |
See today's average rates across the country.
| Loan Type | Today | Last Week |
|---|---|---|
| 30 Year Fixed | 4.97% | 5.03% |
| 15 Year Fixed | 4.48% | 4.53% |
| 1 Year ARM | 3.92% | 3.93% |
| 30 Year Fixed Jumbo | 5.89% | 5.86% |
| 5/1 ARM | 4.24% | 4.06% |
| 3/1 ARM | 4.75% | 4.74% |
| Loan Type | Today | Last Week |
|---|---|---|
| $30K Home Equity Loan | 8.36% | 8.33% |
| $50K Home Equity Loan | 8.22% | 8.17% |
| $75K Home Equity Loan | 8.25% | 8.20% |
| $30K HELOC | 5.22% | 5.20% |
| $50K HELOC | 4.96% | 4.93% |
| $75K HELOC | 4.96% | 4.94% |
| Loan Type | Today | Last Week |
|---|---|---|
| 36 Month New Car Loan | 6.67% | 6.64% |
| 48 Month New Car Loan | 6.79% | 6.77% |
| 60 Month New Car Loan | 6.83% | 6.81% |
| 72 Month New Car Loan | 6.12% | 6.12% |
| 36 Month Used Car Loan | 7.15% | 7.14% |
| 48 Month Used Car Loan | 7.02% | 6.99% |
| Card Type | Today | Last Week |
|---|---|---|
| Business Credit Cards | 9.74% | 9.49% |
| Low Interest Credit Cards | 11.65% | 11.65% |
| Cash Back Credit Cards | 12.08% | 12.08% |
| Balance Transfer Credit Cards | 12.13% | 12.07% |
| Reward Credit Cards | 13.29% | 13.29% |
| Instant Approval Credit Cards | 13.32% | 13.32% |
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