Borrow Now

How to Calculate Your Car Maintenance Budget in Canada

Read this blog to see how to calculate your annual car maintenance budget

Why It’s Important to Have a Car Maintenance Budget

Owning a car gives you freedom, but it also comes with maintenance costs. Keeping your vehicle running smoothly takes routine care and planning. A car maintenance budget helps you stay prepared for the expected and unexpected costs of owning a car in Canada.

This blog explains how to figure out your car upkeep cost, what the average car maintenance cost is in Canada, and how you can manage those costs even when money is tight.

Why You Need a Car Maintenance Budget

Without a budget, car repairs can catch you by surprise. Whether it’s a flat tire, a dead battery, or a bigger engine problem, vehicle maintenance costs add up fast.

Having a budget means fewer surprises, less stress when things go wrong, and more control over your cash. Even setting aside a small amount each month can make a big difference when you need to handle unexpected car expenses.

How Much Should You Budget for Car Repairs?

According to experts at ThinkInsure and BrokerLink, the average car maintenance cost in Canada is around $500 to $1,000 per year, but this depends on the age, make, and mileage of your car.

Here’s a General Guide to Estimating Car Maintenance Costs

It’s always a good idea to put money away for a rainy day, especially for vehicle expenses. As a good rule of thumb, here is how much you should expect to spend on maintaining your vehicle.

  • Newer cars (under 5 years): $500+ per year
  • Older cars (5+ years): $800–$1,200 per year
  • Vehicles with high kilometres: Expect extra costs for cars with more wear and tear

For a good look at the average car maintenance costs, read this article on car maintenance from ThinkInsure.

Budgeting Tip: Put Money in Savings Each Month

Instead of setting aside $1,000 all at once, break it into monthly savings. Save $84 per month to have $1,000 to go towards car maintenance expenses.

Even putting away $10–$20 a week can help you build a solid car repair fund.

What are the Costs that My Car Maintenance Budget Should Cover?

Keeping your vehicle on the road means you’ll have to pay for routine maintenance. When creating your budget, include these common parts you will need to maintain in good condition.

Common Vehicle Maintenance Costs

  • Oil changes (every 5,000–8,000 km)
  • Tire rotation and balancing
  • Brake pads and rotors
  • Battery replacement
  • Windshield wiper blades
  • Fluids (coolant, transmission, brake fluid)
  • Engine air filter
  • Light bulbs and fuses

Don’t Forget to Save for Surprise Car Expenses

  • Flat tires
  • Towing fees
  • Car accidents
  • Diagnostic checks

How to Manage Car Maintenance Costs on a Tight Budget

If you’re working with limited funds, here are ways to lower your car upkeep costs:

1. Shop Around for Repairs

Prices can vary between auto mechanics and the repairs you need done. It is best to get quotes from a few shops before saying yes to necessary repairs. Choose a mechanic who will be upfront and transparent with you about the necessary fixes and costs.

2. Do Simple Fixes Yourself

Things like changing windshield wipers or checking fluids can be done at home. Search for videos on YouTube for step-by-step guides for your car’s year, make, and model. You can also use ifixit.com to find DIY car and truck repairs.

3. Keep Up With Routine Maintenance

It might feel expensive now, but regular maintenance prevents major repairs later. Skipping oil changes or brake checks can lead to larger problems impacting your car’s performance.

4. Use Your Car Less

Carpool, walk, use rideshare companies, or take public transit when possible. Less driving means less wear and fewer trips to the mechanic.

5. Save With a Car Maintenance Fund

Treat your car like a bill. Put $10–$20 a week in a separate savings account for car repairs. If you don’t have one, use a cash envelope system or a jar.

Routine Maintenance Can Help to Reduce Unexpected Car Repairs

Doing routine car repairs can play a big role in the overall maintenance and upkeep of your vehicle. Regular service helps prevent small issues from turning into major (and expensive) problems down the road. It also helps your car run more smoothly, last longer, and stay safer on the road.

Routine maintenance can help you catch problems before they get worse, and routine upkeep helps improve your car’s safety and performance.

What If I Can’t Afford Car Repairs?

It’s not always easy to find extra cash when your car breaks down. If you’re saying to yourself, “I need money today,” you’re not alone.

Customers come to Speedy Cash when they need cash immediately. We offer quick online payday loans across Canada.

To apply, you’ll need:

  • One piece of Government Picture ID
  • Pre-Authorized Debit Form (PAD)
  • 30–60 Day Bank Statement
  • Proof of Address
  • Your most recent Pay Stub (if your income is not Direct Deposit)

Find a Speedy Cash store near you to get the cash you need when you need it.

Get Help Affording Car Repairs When You Need It

If your car breaks down and you can’t get to a Speedy Cash store, you’re not out of options. Speedy Cash can help you get the funds you need fast with our online loan application.

Speedy Cash offers in-store lending and online lending in Alberta, British Columbia, Nova Scotia, and Saskatchewan.If you’re located in Manitoba, New Brunswick, Newfoundland & Labrador, or Ontario, we offer online lending and accept applications any day, any time.

Apply for a Speedy Cash Payday Loan to Get Cash for Car Repairs

A car maintenance budget is one of the smartest things you can have as a car owner. If it’s $500 or $1,000 a year, knowing how much to budget for car repairs can save you from stress and help you stay on the road.

If you ever find yourself short on cash and need help with how to get cash online or in person, Speedy Cash is here for you.

We’re more than a loan provider. We’re your neighbour and your backup plan when money gets tight. Let us help you handle life’s bumps in the road.

Resources:

Visit Our Blog