Buying a new car comes with its own advantages. To start with, you get an extended warranty, which can be a lifesaver should you have problems with the vehicle. There are cars that will be expensive to maintain in the long run, and even an extended warranty will not be enough to save you from the heartache.
Updated December 2021: If you're looking to buy a used foreign car, you'll be happy to know we've updated this article with today's maintenance costs. You can save yourself a fortune on maintenance costs by choosing the right car. However, cars that are cheap to own and operate usually aren't as fun to drive, so there will always be a trade-off.
Most foreign cars are engineered with performance and luxury in mind. They are willing to go the extra mile just to make sure that the performance is industry leading. In such circumstances, car manufacturers might be forced to compromise on reliability.
Most German luxury cars can be costly to maintain. It wouldn't be advisable to go for a car that would cost you more than $800 in yearly maintenance. It might not be economical for a lot of people.
There are foreign cars that are known for reliability. A company like Toyota has been consistent in terms of reliability for the last 30 years. They are willing to do away with features that will interfere with the reliability of the vehicles. To most Americans, a vehicle is an essential means of transportation and aesthetics are always secondary when they are shopping for new cars. The modern buyer wants to have all the information before making a purchasing decision.
Here are some of the cheapest and some expensive foreign used cars to maintain, along with their annual maintenance costs.
10 Cheap: Toyota Corolla 2013 ($341)
The Toyota Corolla has been one of the best selling cars in the world ever since it was launched for the mass market in 1966. There were 308,695 units sold in the US in 2017. The Toyota Corolla was the highest selling vehicle in 2007 in the United States. The car has simply refused to die.
Owners abandon them not because they don't perform, but because they have been driving them for a long time. According to CarThrottle, you can keep the maintenance cost to below $200 for a Toyota Corolla if you don't experience any major problems. You can get a 2013 Toyota Corolla for less than $7,000. According to RepairPal, the most common problems reported with the Toyota Corolla are the engine light and the evaporation system.
9 Cheap: Honda Accord 2016 ($351)
The Honda Accord has been on the assembly line since 1976 and is one of the most successful foreign cars in the United States. The nameplate is used in the crossover, hatchbacks and coupe variants. The 2016 model is currently selling for $14,000 which is a bargain if you are looking for a reliable car.
It comes with a 2.4-liter l-4 engine which produces 185-HP. It is always good with gas as you can get between 22-31 MPG on average. It might have less luxurious features compared to competitors but delivers when it comes to safety ratings. According to RepairPal, the most reported challenge with the Honda Accord 2016 is the no-start problem. There was a recall by Honda which managed to fix the problem.
8 Cheap: Toyota Camry 2015 ($381)
The Toyota Camry 2015 is averagely priced at $15,000 for a used model. Usnews.com has given it a 4.5-star rating in terms of reliability. The 2015 Camry also excels well when you look at the safety and total cost of ownership.
The car does not only look good but impresses when it comes to performance. It has a 2.5-liter l-4 engine which produces 178-HP. This is more than enough juice if you don't intend to take the Camry to the track. According to RepairPal, the yearly cost of maintenance for the Toyota Camry is $381. The most common reported problem has to do with the transmission. The wheel bearing replacement costs around $350 on average.
7 Cheap: Honda CR-V 2016 ($385)
The Honda CR-V has been voted by Motor1 as one of the most reliable cars ever produced. It was first launched in 1995 and was meant to take over the North American market. Honda sold more than 300,000 units of the CR-V in the US in 2016. The 2016 model has been given a 4.5-star rating by cars.com.
You can a get a used one for as low as $17,000. In terms of performance, there is a 2.4-liter L-4 engine which produces 185-HP. You can get an average 27-29 combined MPG. According to RepairPal, the average cost of maintenance for the Honda CR-V 2016 is $385. Brake pad replacement is cited as a common occurrence and costs between $138 to $246.
6 Cheap: Toyota Tacoma 2015 ($398)
According to Wikipedia, the Toyota Tacoma is one of the most reliable trucks ever to be built. The car has been on the assembly line since 1995. This truck is specifically produced for the North American market, although it is also sold in South America.
The 2015 model was given a 4.5 star rating by cars.com and it has everything to with the reliability and the entry level price point. The car cost $19,884 for a base model when it launched in 2015. Under the hood, you get a 2.7-liter l-4 engine which is capable of producing 159-HP. According to RepairPal, the average maintenance cost for a Toyota Tacoma is $398. One of the common problems is the ball joint replacement which is said to cost around $270.
5 Expensive: Porsche Cayenne 2015 ($1,200)
The Porsche Cayenne has been on the assembly since 2002. According to Wikipedia, the Porsche Cayenne was sold as a midsize crossover SUV and was the first car from the company to feature a V8 engine since 1995. It was also the first off-road variant sports car from Porsche.
The 2015 version saw a change in powertrain, as Porsche abandoned the V8 in favor of a 3.6-liter twin-turbo V6 engine which can produce up to 412-HP. You can get the 2015 model for less than $50,000. According to RepairPal, the average yearly cost of maintenance for the Porsche Cayenne 2015 is $1,202. According to Consumer Reports, the frequency of repair is likely to cost more than the price of the car. There have been two recalls for the car since 2015.
4 Expensive: 2013 BMW M5 ($1,208)
The M5 nameplate is associated with sports cars from BMW and has been on the assembly line since 1985. According to Wikipedia, the BMW M5 was the fastest production sedan when it introduced for the mass market. There have been various versions of the M5 over the years. The 2013 model comes with a 4.4-liter twin turbo V8 engine which is capable of producing 560-HP. You can currently get it for less than $40,000, although it was selling for more than $100,000 when it first launched in 2013.
According to Motor Trend, the exterior is what you would expect in a regular BMW M5. According to RepairPal, there have been problems reported with the tire and alignment. There is also a rubbing noise that you are likely to experience while driving aggressively.
3 Expensive: 2014 BMW M6 ($1,227)
It must be obvious by now that German cars are not cheap to maintain, and the M6 is no exception. The M6 was specifically designed by BMW's motorsport division and has been in production since 1983. The first generation of cars has aged really well. According to Wikipedia, the first generation was well received because of the unique design and unparalleled performance.
It was the second fastest BMW ever made at that time, after the M1. The 2014 M6 is based on the F13 model. According to Wikipedia, the vehicle is limited to a top speed of 155 mph and can go from 0 to 60 in 4.2 seconds. Under the hood, there is a 4.4-liter V8 engine which produces 560-HP. According to RepairPal, brake rotor replacement can cost up to $1028.
2 Expensive: Mercedes-Benz S63 AMG 2015 ($2,062)
The Mercedes-Benz S63 AMG is one of the most expensive cars from the manufacturer. A used one is currently retailing at $100,000 and could've gone for as much as $200,000 when it launched. The car has twin-turbo V8 engine which is capable of putting out up to 577-HP.
In terms of transmission, there is a 7-speed automatic which has a manual shift mode. The luxury is class-leading, as you'd expect from a Mercedes, especially with such a hefty price tag. The most common problem reported with the Mercedes-Benz S63 AMG 2015 is the car stalling. This is can be bummer given the sticker price of the car. According to RepairPal, it costs $2,062 on average for the yearly maintenance of the Mercedes-Benz S63 AMG 2015.
1 Expensive: 2013 Nissan GT-R ($2,416)
The Nissan GT-R is just a beauty on the road. It is one of the most iconic sports cars of the last 10 years. The first one was introduced to the mass market in 2007. The Nissan GT-R comes with a 3.8-liter V6 engine which can produce up to 545-HP.
The car also doesn't come cheap especially if you are looking for a high-performance variant. The 6-speed dual clutch 6-speed transmission is a feature that would interest most car enthusiasts. According to Cars.com, the interior doesn't have class-leading luxury since the car is finely tuned for performance and every little detail matters. According to Jalopnik, the car is not a good daily driver, and you are likely to pay more for Insurance costs.
Sources: repairpal.com, wikipedia.org, yourmechanic.com, cars.usnews.com