Volvo is a Swedish Auto manufacturer that is known for producing luxury and business segment cars. Though it was established back in 1927, and it has sold vehicles in 100 countries. Still, its sales figures are lagging behind other luxury brands like Lexus and Audi.
So, what is the reason behind that? Volvo cars are rated above average for reliability, the only viable opinion left to justify their low sales is its maintenance cost. People often consider that Volvo is expensive to maintain.
In this article, we’ll get to the bottom of this and find out all the maintenance costs of a Volvo car in detail.
Are Volvos Expensive to Maintain?
Volvos do have a tendency of being expensive to maintain. The average cost of maintenance across all models of Volvo is $769 for one year. This puts Volvo at 4 number among the car brands that are most expensive to maintain. It is ranked after BMW, Mercedes-Benz, and Cadillac.
All luxury segment cars follow the trend of pricey maintenance. It is usually due to their higher part prices and high breakdown frequency. But that is seldom the case with a Volvo. Volvos are rated above average with a reliability score of 3.5 out of 5. Which is not bad at all among luxury segment vehicles.
Also read: Do Volvo Cars Rust (+Most Rustproof Models)
How Much Does it Cost to Insure a Volvo?
It is neither too expensive nor too cheap to insure a Volvo car. The average monthly insurance premium of a Volvo car is $142. This brings the yearly insurance cost of a Volvo to $1,704. This might seem like a lot if you are comparing with brands like Toyota and Honda that cost under $1,000 for insurance.
But if you are comparing with similar segment cars, then Volvo is actually cheaper to insure. They cost $150-200 less than what it cost to insure a BMW or Audi. The cheapest Volvo to insure is an XC60 with a premium cost of $1,563 for a whole year.
The following illustration compares the insurance rates of popular Volvo models.
How Expensive are Volvo Parts?
Volvos are a little expensive to maintain, and this argument holds even with the prices of spare parts. They are 20-25% more expensive as compared to other American or Japanese luxury brands. With that said, Volvo parts are 10-15% cheaper in comparison to some German brands like Audi and BMW.
If we compare the alternator replacement costs of Volvo XC 90 to that of Lexus ES 300. The former cost $768 and the latter costs $510. So, Volvo parts are 20-25% more expensive as compared to Lexus. However, the similar part cost of the Audi Q7 is $945. This is expensive than both, Lexus and Volvo.
What are the Most Common Problems with Volvos and How Expensive it is to Fix Them?
Volvos are very reliable vehicles normally. They require the least unscheduled maintenance among luxury brands. A survey conducted on Volvos determined that, on average, each Volvo car visits a repair shop for unscheduled maintenance 0.5 times a year. And only 9% of these problems were considered to be severe. Following are the most common problems that occur in Volvos.
- Transmission Failure
- Power Steering Leak
- Quick Tire Wear
- Transmission Failure
Transmission failure issues are probably the most common ones to occur in Volvo cars. As soon as the warranty is, owners noticed that transmission warning lights pop up. Most of the owners reported that as their car reached the 100,000 miles mark, the transmission began to fail completely. It cost somewhere between $3,500 and $8,000 to repair this issue.
- Power Steering Leak
Volvo S60 faced this issue of power steering fluid leakage most commonly. Before 50,000 miles were reached, you would notice that power steering becomes hard. Although, fixing this issue isn’t that expensive. It only cost about $85. But this problem caused a lot of trouble to owners.
- Engine Problems
Not many, but some Volvo users reported hearing strange clinking sounds from the engine. This sound would go away if you turned the car off and switched it on. But it would start again after some time. The cause of this trouble was diagnosed to be a computer update. So, it cost around $600 to remove this issue.
How Much Does it Cost to Replace Tires, Fluids, and Oil in Volvo?
Like other luxury cars, the tire, fluid, and engine oil cost of Volvo is slightly expensive. Where a normal pair of tires will cost you around $1,000 the price of Volvo tires is $1,700. The oil & filter will cost you $125. General fluids like a coolant would cost you $183. All in all, maintenance is on the expensive side.
There are a lot of custom options in these things as well. For example, which tires do you use. Obviously, if you choose high-performance tires, it will cost you more. Similarly, the place of maintenance also matters. Since bran dealerships charge more in comparison to normal workshops.
Do Volvos Lose Value Fast?
Volvos follow the regular depreciation trend of luxury vehicles. You can neither say that they hold their values well, nor you can say that they lose value too fast. Volvo cars lose 35% of their value within the first 3 years of purchase. But Volvo doesn’t have a strong resale market, which is a negative point.
2015 models of Volvo are the most economical vehicles to purchase in 2021 if you consider the best value graph. With more than 50% useful life of the vehicle remaining you can purchase it for just 35% of its initial value.
Do Volvos Consume a Lot of Fuel?
Volvo cars consume no more fuel than their competitors. Their engines are highly efficient. The best mileage recorded on a Volvo car is approximately 20 kmpl. This figure is extremely impressive considering the performance and size of Volvo cars. The yearly fuel cost of a Volvo car is just below $1,000.
In the luxury segment of cars, fuel consumption is not an important consideration, it is more of an economic sector thing. But still, Volvo has managed to produce fairly efficient cars. The average mileage across all models of Volvo is 13 kmpl. This will mean a monthly expenditure of $77 on gasoline.
Which Volvos are the Most Affordable?
You would seldom find a cheap car in the luxury segment. Volvos are no different but still, they are slightly more affordable as opposed to their German counterparts. The cheapest Volvo we were able to find on the motor trend listing was the XC 40. The best price of this car was $34,100.
The prices of some other affordable Volvos are given below.
- Volvo XC40 – $34,100
- Volvo S60 – $39,250
- Volvo XC60 – $41,700
- Volvo V60 – $45,700
- Volvo XC90 – $49,900
- Volvo V90 – $51,800
- Volvo S90 – $51,850
Which Volvos are too Expensive to Maintain?
The cars which have prices on the higher side are usually the ones that are expensive to maintain. So, the expensive Volvo models such as XC90, V90, and S90 all have expensive maintenance.
- Volvo XC 90
XC 90 is one of the most premium models of Volvo. The average yearly maintenance cost of Volvo XC 90 is estimated at $851. Which is above the average cost across Volvo models. But the good part is that XC 90 is also among the most reliable vehicles in the Volvo lineup. Most of this cost is represented by scheduled maintenance.
- Volvo S 90
Volvo S90 can cost about $942 in repair and maintenance during a year. It is above the average maintenance cost of luxury segment sedans by almost $228. The worst part is that S90 is not entirely reliable. Since there is a 22% chance that during each visit to the repair shop, you have to deal with a major repair.
Overall, How Much Does it Cost to Have a Volvo?
It will depend mostly on the exact model and variant of the car, as Volvo has an extensive lineup. If we talk averages, then it will cost you around $192 per month to have a Volvo. This figure is made up of three different costs that are the fuel cost ($77), scheduled maintenance cost ($65), and unscheduled maintenance cost ($50).
If we want to project these values on to a year or 3. Then the yearly ownership cost of a Volvo would be $2,304. The cost of 3 years would come out to be $6,912. And for 5-year ownership cost, you could easily buy a second-hand Japanese car as this cost come out to be $11,520.
Are Volvos Expensive to Maintain Compared to Other Brands?
As we have already mentioned that Volvos are expensive to maintain as compared to some of the Japanese brands. But they are cheaper than similar segment German brands. So, let’s discuss some brands from both sections.
Volvo Vs BMW
BMW is a premium category car brand coming out of Germany. There is no match to the BMW class anywhere. The overall maintenance cost of a BMW for 10 years is $17,800. It is the most expensive car brand to maintain in the world. As opposed to that, Volvo is ranked at #4 with a 10-year maintenance cost of $12,500.
Volvo Vs Lexus
Lexus shouldn’t be considered among luxury segment brands when it comes to maintenance costs. It beats all its competitors by a wide margin. Among the list of 30 most expensive car brands to maintain, Lexus is ranked at 28th position. The only brands below it are Scion and Toyota. The 10-year average maintenance cost of Lexus is just $7,000.
Volvo Vs Infiniti
Infiniti is an interesting comparison with Volvo. As they are similar in almost every regard. Whether it be price or reliability, they are exactly the same. The total maintenance cost of Infiniti is $9,300 for 10 years. This makes Infiniti one of the cheapest Japanese brands of luxury cars to maintain.
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