Formula One is one of the most famous motor sports in the world. However, it is also one of the most expensive sports. A single crash or accident can cause damage worth millions.

The F1 cars don’t look that expensive, but just their front wing is worth more than the cars used in daily lives. The prices of those parts can range from $500,000 to millions. FIA introduced new regulations for F1 teams and they have to build their cars following those rules. Further, these new rules affect the pricing of the parts.

Why are F1 cars so expensive?

The F1 cars are far more expensive than those luxury sports cars. The reason for such expensive pricing is the material used to build these high-speed cars. Usually, a Formula One car is made up of lightweight and durable materials like Carbon Fibre. Further, there is another reason behind the expensive tags on these cars and that is most parts are handmade by several mechanics and craftsmen.

Do you pay for car repairs before or after?

The F1 teams don’t have infinite funds that they can just ask for car repair and then pay for it. But in F1 now they have a budget cap that limits their expenses on a car throughout an entire season. So, the teams need to be careful about the budget cause they not only will use it for repairs but also for development. So, F1 teams first figure out how much the repairs might cost and then proceed with the specific repairs for the car.

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Why do they cover F1 cars after crashes?

Many F1 fans might have wondered why teams cover their cars after a crash. So, it’s done to not reveal any parts. Because an F1 car might lose its bodywork after a crash and might reveal some internal components.

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The opposition terms can use this opportunity to photograph those components and might even copy them. Further, a cover also decreases the risk of getting hurt from a sharp edge because of a crash or accident.

Do F1 drivers pay for damages?

Mick Schumacher crashed his Haas into the wall during the qualifying of the 2022 Saudi Grand Prix. It was a terrible crash that left his Haas challenger in pieces. There have been many more such crashes throughout F1 history. So many fans might want to know does the drivers pay for the repairs of their crashed car. However, that’s not the case, the drivers don’t spend single money from their pocket. All the repairs depend on the team budget.

Formula One car repair cost

The F1 car repair cost varies for each case. Usually, it depends on how much damage the car suffered and whether the part damage is expensive. Moreover, the repair cost also depends on the material used for those parts. Like the parts which are made up of carbon fibre would cost more than any other material used in the car.

Formula One engine repair cost

The engine is one of the most expensive parts of an F1 car. So, the teams spent most of their budgets on the power units. Further, there are teams who develop their own engines and some buy from other big-name manufacturers. These days, F1 cars use turbocharged 1.6 L V6 engines that can cost a team up to approx $18.32 million.

Formula One chassis repair cost

An F1 car’s chassis is made up of carbon fibre, which is one of the lightest materials but also durable. But it is difficult to manufacture a carbon fibre sheet, it takes a lot of resources to make one carbon fibre sheet. So, an F1 chassis can easily cost around $700,000 to $1 Million.

Formula One front and rear wing repair cost

The rear and front wings can heavily affect the performance of an entire F1 car. The wings can manipulate the downforce of a car and throughout a season, the teams focus a lot on the wings. Further, the rear wing is more important cause it has a feature called DRS which reduces the aerodynamic drag and increases the car’s speed for overtaking. A rear wing can cost around $85,000 up to $150,000. Meanwhile, the delicate front wing can also cause a similar price, of around $141,500.

Formula One gearbox repair cost

A gearbox allows the driver to change speed. The F1 car these days comes with semi-automatic eight forward gears and one reverse gear. Like the engines, the gearbox is also one component that teams can either build on their own or can buy from other teams or manufacturers. Gearbox damage can cost an F1 team around $354,000.

Formula One steering wheel repair cost

The steering wheel can lead from a slight error to a massive accident. So, the F1 teams don’t compromise with the quality of a steering wheel, which is usually made of carbon fibre. F1 teams spent around $50,000 on developing an F1 steering wheel.

Formula One hydraulic system repair cost

An F1 car’s hydraulic system is undoubtedly one of the most complex components to make. As it controls nine other parts, like the throttle, clutch, gearshift, DRS and Reverse gear. So, the hydraulic system is pretty expensive, and a damaged one can cost around $170,000 for repairs.