Carfax releases new tool to help you predict how much repairs will cost on your used car

RALEIGH, N.C. (WTVD) -- With a shortage of new cars in the market, used cars prices continue to be at an all-time high. To protect your money, there is now a new way for you to research before you buy and see which vehicles are more likely to need costly repairs.

"We've analyzed all the vehicle history data that's in our database--more than 27 billion records--to help predict the future and help you understand what repairs may be likely over the next year on the car or cars that you're looking to buy," Carfax's Chris Basso said.

Basso said Carfax uses the vehicle history information from repair and maintenance shops, and then uses that information and breaks down which vehicles are more likely to need repairs in the coming year.

"If you're in the market for an SUV, those vehicles are most likely to need repairs over the next twelve months. Whereas the midsize pickups that many people are looking to buy are the least likely to need repairs. You can take that information and comparison shop and make the best decision for you and your family," Basso said.

Carfax data findings for 2015-2019 model years:

• Mid-size pickups: 11.1% likelihood repairs will be needed in the coming year
• Small cars: 12.8% likelihood repairs will be needed in the coming year
• Small SUVs: 14% likelihood repairs will be needed in the coming year
• Mid-size cars: 15.1% likelihood repairs will be needed in the coming year
• Full-size cars: 15.4% likelihood repairs will be needed in the coming year
• Full-size pickups: 18% likelihood repairs will be needed in the coming year
• Luxury cars: 18.4% likelihood repairs will be needed in the coming year
• Sports cars: 20.1% likelihood repairs will be needed in the coming year
• Luxury SUVs: 20.2% likelihood repairs will be needed in the coming year
• Minivans: 20.3% likelihood repairs will be needed in the coming year
• Full-size SUVs: 24.6% likelihood repairs will be needed in the coming year

Here's how you search for a specific vehicle. Just go to Carfax, click research, type in the make and model along with the year of the vehicle you're looking to buy, and then Carfax gives you the reliability and repair report costs.

"The last thing you want to do is buy a used car and be stuck on the side of the road after it breaks down. So using the liability and repair costs that we're offering consumers for free, people can compare vehicles and better understand which repairs are likely to happen over the next year," Basso adds.

Now of course no one can know for sure when your car will need its next repair. This data is meant to help you better prepare for the unexpected.

Besides doing this research, never buy a used car, without taking it to your mechanic to have it checked out for added protection.