How much should you budget for car maintenance?

My friend had some engine issues last week. The repairs cost him a fortune and he didn't have any money saved for repairs. How much money should I budget for car maintenance to avoid a similar situation?

Answer
Car maintenance is necessary but often unexpected! One moment everything’s fine, and the next, you’re out hundreds of dollars without a clue of how you got there.
The good thing is if you set aside some money, it can lessen the risk. Generally, experts recommend setting aside around $100 a month. You can adjust this number to reflect the amount you can afford and the condition of your car, but the more you can save, the better.
If it’s difficult for you to save, consider using your tax refund or any extra cash you get to start an emergency fund. Even if it isn’t $100 a month, anything helps!
Beyond saving, investing in a roadside assistance plan can save you money should anything happen. Jerry’s roadside assistance membership provides you with industry-leading roadside assistance, including benefits like towing, lockout service, and a mechanics hotline. To find out if you’re eligible, you can check the app or call one of our friendly agents. You may qualify for a special rate of $50 for your first year!
Will Baldwin
Answered on Oct 29, 2021
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