Yahoo Finance 7 Foreign Car Brands That Will Cost You the Most Over Time
Over the past few years, widespread supply chain distributions have brought the “Made in America” label back to the fore. When President Joe Biden took office, one of his first executive orders was the Ensuring the Future is Made in America by All of America’s Workers action, calling for a “whole-of-government initiative to strengthen the use of federal procurement to support American manufacturing.”
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When it comes to cars, many Americans are patriotic to the core, buying vehicle after vehicle made in the USA. Others, however, prefer foreign brands, which are known primarily for their affordability, fuel efficiency and, mainly, their reliability. According to Consumer Reports, all of the top 10 most reliable vehicles in 2023 come from foreign automakers, with Lexus, Toyota, Mini, Acura and Honda topping the list.
In fact, according to CarEdge, the costliest popular car brands to maintain and repair are American. Ram, Jeep, Chrysler, Dodge, Ford and Chevrolet and GMC models occupy the top 25 maintenance-heavy popular vehicles. Ram occupies the top seven places among 164 models with the most expensive maintenance costs over a 10-year period.
However, while all luxury cars are big-ticket purchases, premium foreign cars are a different matter entirely. Unless you buy a small compact, foreign car, it typically costs more than domestic vehicles and is one of the most expensive models to upkeep. Additionally, shipping costs of some foreign cars can be higher than those of their U.S. counterparts, and European luxury brand parts and labor tend to cost more than those readily available for American vehicles. Although parts and labor can hurt your wallet regardless of the car you drive, many foreign cars require rarer parts and specialists to install them.
Even reliable cars can cost you way too much for everyday repairs. For example, Porsche is one of the most beloved and reliable high-performance brands and the most high-maintenance luxury brand on the market.
Porsches have a 51.17% chance of requiring a major repair during the first 10 years of ownership, which is 16.08% worse compared to the other auto manufacturers in their segment, per CarEdge. The Cayenne (10-year ownership cost: $20,552), Macan ($20,137), 911 ($18,231) and Panamera ($16,531) all made Motor1’s 20 Most Expensive Cars to Maintain list.
Owned by Jaguar, Land Rover is known for its rugged four-wheel-drive vehicles with incredible off-road capabilities. However, RepairPal suggests its models have reliability issues, awarding the brand a reliability rating of 2.5 out of 5.0, which ranks it 31 out of 32 for all car brands.
When shopping for a new car, looking past the sticker price and any discounts or incentives offered is important. Remember that the amount you spend annually on overall maintenance costs on the vehicle includes insurance, gas, oil changes and depreciation. Even the price of factory-recommended maintenance can vary depending on the vehicle you drive.
According to CarEdge’s annual and 10-year maintenance and repairs estimates, models from the following seven foreign car brands will cost you the most money over time. Major repair probabilities are listed for the brands, too (a major repair is anything that exceeds $500).
1. Porsche
Estimated 10-Year Maintenance and Repair Costs: $22,075
Estimated Annual Costs: Annual Costs: $734 in year one, $4,164 by year 10
Major Repair Probability: 51.17%
2. BMW
Estimated 10-Year Maintenance and Repair Costs: $19,312
Estimated Annual Costs: $610 in year one, $3,686 by year 10
Major Repair Probability: 45.89%
3. Land Rover
Estimated 10-Year Maintenance and Repair Costs: $18,569
Estimated Annual Costs: $656 in year one, $3,451 by year 10
Major Repair Probability: 41,71%
4. Jaguar
Estimated 10-Year Maintenance and Repair Costs: $17,636
Estimated Annual Costs: $597 in year one, $3,313 by year 10
Major Repair Probability: 40.54%
5. Mercedes-Benz
Estimated 10-Year Maintenance and Repair Costs: $15,986
Estimated Annual Costs: $566 in year one, $2,970 by year 10
Major Repair Probability: 35.87%
6. Volvo
Estimated 10-Year Maintenance and Repair Costs: $13,513
Estimated Annual Costs: $474 in year one, $2,516 by year 10
Major Repair Probability: 30.46%
7. Audi
Estimated 10-Year Maintenance and Repair Costs: $13,222
Estimated Annual Costs: $445 in year one, $2,487 by year 10
Major Repair Probability: 30.46%
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This article originally appeared on GOBankingRates.com: 7 Foreign Car Brands That Will Cost You the Most Over Time
