The expense of car ownership doesn’t just end with the initial purchase. In addition to gas costs and basic upkeep, there are also car repair expenses to consider. The following are some of the most expense types of car repairs that you may have to face as a car owner:
Average cost: $8,000
Although the parts to replace or repair a cylinder can be costly, a great deal of this cost is due to labor because the engine needs to be disassembled. Depending on the value of the car, it may or may not be a repair worth making; you may be better off getting a new vehicle. The best way to avoid the need for cylinder replacement or repair is with basic upkeep and routine maintenance.
Hybrid inverter assembly replacement
Average cost: $4,000 to $7,400
Inverters are scarce, which makes replacement a substantial expense. Although inverters don’t fail frequently, due to how much they cost when they do, it could be worth in investing in an extended warranty if you’re purchasing a hybrid.
Transmission assembly replacement
Average cost: $3,600
Transmissions are often neglected and overlooked, but without a working transmission, your car won’t run. It’s an expensive replacement, but problems can sometimes be caught early during regular maintenance checks.
Replacing cylinder head assembly and spark plugs
Average cost: $3,500
If your check-engine light comes on, get your car to a mechanic right away—it may be spark plug issues, which can cause misfires in your engine and an overheated cylinder.
Average cost: $1,600 to $3,100
Camshaft replacement is labor intensive, and as such, is a very expensive car repair. Camshafts need to be replaced due to low-quality fuel or lack of routine oil changes.
If you need cash now to take care of miscellaneous expenses and bills, Peachtree Financial Solutions may be able to help if you’re a payment stream recipient. We can purchase all or a portion of your future annuity payments, and in return, provide you with that money now in the form of a lump sum. If you’re interested in learning more about how you can sell payments for cash now, contact us today.
Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.