As the car ages, costs go up

Yesterday, I sent in my car for a regular service. I did it every 6 months at Borneo Motors. I thought the bill would be not much since I had done a major service last time round at $1,181 to replace my brake pads. This time round, the service engineer told me that the engine mounting insulators were cracked. These mounting insulators are to secure the whole engine to the car chassis. How not to change these? So the bill came up to $1,220.

This was not all. Once the car ages, more repairs are the norm. My car is already 8 years old. Cost of car service was acceptable in the first 6 years. But the costs go up after that. Within a year, I spent $3,836 on repairs and services.

Date Cost of service Remarks
18-Nov-15 $1,435 Change front absorbers
19-May-16 $1,181 Change MVP Brake Pad
11-Nov-16 $1,220 Replace engine mountings
Total $3,836

Cost of driving a car has gone up because of heavier repairs and services. For 2016, my costs (to date) were:

Types of costs Annual costs ($) Remarks
Car insurance 881 50% NCD
Car road tax 679 1,600 cc
Car service/repair 2,900 Other repair items included, like replacing car tyres, car battery
Car Park/ERP 420
Petrol 922
Total 5,802

(Note: Petrol cost appears low because I did not drive as much but relied on public transport.)

By owning a car and an aging one, the cost per month averages $480. I would better off taking public transport in time to come.

Copyright © 2016, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

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