Vincentric has the ability to calculate accurate maintenance costs, which includes both scheduled and unscheduled services, for any new or used vehicle in the US or Canada. Calculations can be done starting with the current odometer reading up to 300,000 miles or 480,000 kilometers. These calculations incorporate parts pricing, labor times, and labor rates.
In addition to having maintenance costs for over 45,000 vehicles at the Year, Make, Model, and Trim level, maintenance costs can be determined for VIN specific vehicles using the Vincentric VIN matching process.
Scheduled maintenance costs use the vehicle manufacturers’ recommended maintenance schedule as its foundation. These mileage/time intervals typically range from every 5,000 miles to 10,000 miles. We then calculate the total cost for each recommended service using the labor time associated with each service item along with the OEM replacement part cost.
The labor cost is calculated by applying the estimated total labor time and multiplying it by the hourly labor rate. The labor rate is customized by state and province based on a Vincentric survey of automotive dealers, with current national rates at $96/hour in the US and $112/hour in Canada. Slightly higher labor rates are used for luxury vehicles. Parts costs are then added to the labor cost to determine the total maintenance cost at each scheduled interval.
Please note that if a vehicle has a maintenance indicator light to indicate the appropriate time for service, Vincentric defaults to the manufacturer’s upper mileage limit for that particular service.
Unscheduled maintenance costs include items not specifically required as part of the manufacturer scheduled maintenance. For instance, manufacturers recommended periodic brake inspections but do not provide a specific brake replacement schedule. To account for costs of wear items such as brakes, batteries, tires, etc., Vincentric determines a standard replacement interval that is the same for all vehicles. The cost to replace these items is then applied at the appropriate interval, using vehicle specific parts and labor times in the calculation.
Vincentric Maintenance Data can be delivered via our Web Service or via a text file uploaded to our secure ftp site.
The end result is the ability for Vincentric customers to access accurate estimates of maintenance costs using a data-driven process, resulting in an unprecedented ability to determine maintenance costs based on vehicle location, current odometer reading, and expected driving patterns. Contact us to discuss how this data can help your organization make informed decisions related to vehicle ownership, remarketing, or other aspects associated with automotive ownership.