Be Car Care Aware program gives Canadians advice on maintenance and repair budgets

The Automotive Industries Association (AIA) of Canada, through its Be Car Care Aware (BCCA) program, wants Canadians to know how to develop smart budgeting practices now and into the future, to keep vehicle operating costs low, protect their investment and increase overall road safety.

“With the costs of insurance premiums, parts and supplies, drivers’ licences and registration fees staying relatively stable, Canadians are better equipped to budget for vehicle-related expenses – particularly the costs of regular maintenance and servicing,” said Marc Brazeau, President and CEO, AIA Canada. 

“However, accidents and regular wear and tear do happen, so vehicle owners need to plan ahead.“ 

In a study performed by DesRosiers Automotive Consultants, the total operating costs increased by 2.2 percent in 2012, down considerably from the 10.6 percent gain noted in 2011 and 6.0 percent growth seen in 2010.

As the costs of vehicle ownership remains relatively stable, AIA highlights three factors Canadians need to consider when budgeting for maintenance and repairs:

Regular maintenance and servicing as per your vehicle’s owners’ manual is essential and should be factored into your annual vehicle-operating budget. AIA’s 2011 Demand Study showed that Canadians are under-spending by an average of $225 on each of three yearly visits to their automotive service provider. Regular servicing helps correct minor issues before they turn into major (and more expensive) issues down the line.

Sound financial planning requires being realistic about costs and smart planning to find the best deals on gas, vehicle accessories, parts, and servicing. Although costs didn’t increase dramatically this year, the cost of operating a vehicle does go up every year and consumers should keep that in mind when planning their finances. Doing your research and asking for quotes can help you stay within budget when it comes to vehicle operating costs.

If you own an older vehicle, be prepared to allocate a larger budget towards your vehicle than you would with a newer model vehicle. With the average light vehicle on Canada’s roads being 9.3 years old, according to AIA’s 2012 Outlook Study, drivers should be aware that older vehicles typically require more maintenance due to aging and failing parts. Although the average cost of operating a vehicle didn’t significantly increase this year, Canadian consumers with older vehicles will need to put aside a bit more than they did before to keep their vehicle running smoothly, based on the findings of AIA’s 2012 Consumer Behaviour Study.