In the last decade, car maintenance has become increasingly important for the average American.
“If you look at how many cars are in the country, the percentage of people who say they are going to spend more money on cars is going down,” said Michael Lutz, an assistant professor at the University of Illinois at Chicago.
In his new book, Car Maintenance Bible, Lutz takes a look at the costs of car maintenance and the people who do it.
The book is the latest installment in a growing trend among American car owners to find themselves paying a premium for the upkeep of their cars.
A study from Consumer Reports found that in 2016, American car buyers spent an average of $2,000 a year on car maintenance, with the average car costing more than $40,000.
That figure has climbed dramatically in the past decade.
For 2016, a BMW S6 and Audi A3 were the most expensive cars in the US, with prices of $7,000 and $10,000 respectively.
Lutz’s book makes the case that it’s possible to get the most out of your money when you buy a vehicle with a car that is maintained.
As an example, he cites an article by Edmunds.com that found that average car owners spent $1,828 on vehicle maintenance in 2015, a 35% increase from the previous year.
This trend is being driven by a shift among American consumers toward a more affluent lifestyle, said Lutz.
They have become more willing to spend a bit more on their vehicles, especially when they are purchasing a larger car, he said.
Read more: Lulu’s car maintenance book is getting buzz: ‘It is a lot cheaper to pay for an oil change’ Lutz believes that this shift in spending is partly responsible for the rise in average car prices, as the average annual car cost has fallen by about $100,000 in the last two decades.
But there are many other factors at play.
Many of the new owners of cars that were purchased in the 1990s and early 2000s, and who would have paid much less in car maintenance in the early 2000’s, now have car insurance.
If you are in a car with a deductible of more than three times your car’s market value, then car insurance will cost you about twice what it would have done before the Affordable Care Act.
Another big factor is the advent of car rental services.
These companies charge less than car rental companies do, and offer an even better return on investment than the traditional car rental service.
Although the cost of maintenance is relatively low compared to the cost to buy a car, Luthis’ book says that paying more for a car means paying for less than you can afford to.
He believes that when a car is maintained by a well-trained and well-equipped professional, it will perform at its best.
“If there is a car for every job that a driver needs, then it will make a difference in the long run,” Luthislis said.
“In a perfect world, you would pay for your car maintenance yourself.”
He is currently working on a book that is based on a study of car insurance rates by a group of investors in the insurance industry.
Follow the author of this article on Twitter: @Lukas_M