Buying a Car? Check the Cost of a Replacement Key Before You Buy

When shopping for a new or used car, most people compare the purchase price, mileage, interest rate, insurance costs, fuel economy, warranty, and maintenance history.

There is one expense almost nobody thinks about until after they buy the vehicle.

How much does the key cost?

As automotive locksmiths, we regularly hear from people who just purchased a used vehicle and discovered it only came with one key. At first, that might not seem like a big deal. Then they call to get a second key and discover that a replacement might cost $300, $500, $800, or even more than $1,000.

Car keys have changed dramatically. A basic mechanical key can cost as little as $10. A transponder key might be around $85. Many common push button start vehicles can be around $200.

Then there are vehicles with OEM smart keys costing $800 or more and newer Mercedes Benz keys costing more than $1,500.

The cost of the key should be something you consider before buying the car, especially if the vehicle only comes with one.

Many Used Cars Only Come With One Key

It is extremely common for used vehicles to be sold with only one working key.

The previous owner may have lost the second one. The vehicle may have gone through an auction with one key. The dealership may simply have received one key when it acquired the vehicle.

Whatever happened to it, once you purchase the car, the missing key becomes your problem.

We have had customers purchase vehicles from companies such as CarMax and Carvana and contact us afterward because they received only one key.

There is some irony to this.

When you go through the online quote process to sell a vehicle, companies such as CarMax and Carvana ask how many keys you have.

Why?

Because keys have value.

The number of keys can be considered when evaluating the vehicle they are buying from you. Yet a used vehicle can still be sold to the next owner with only one key.

Car buyers should think about the value of that missing key the same way.

If the vehicle should have two keys and only has one, find out what the second one is actually going to cost before you sign the paperwork.

Replacement Car Keys Can Cost Anywhere From $10 to More Than $1,500

One of the reasons car key pricing is so confusing is that there is no standard price for a replacement key.

A basic mechanical key can sometimes be made for around $10.

A basic transponder key might cost around $85.

Many common push button start vehicles can be around $200.

For certain newer Toyota vehicles, we might be around $295 for an OEM smart key installed and programmed. Quality aftermarket options can sometimes reduce that price.

Certain newer Ford vehicles can be around $350 for an OEM fob installed and programmed, although aftermarket options may also be available for less.

Then prices start climbing quickly.

Certain Volvo keys can cost more than $800.

Many newer Hyundai OEM smart keys can approach $800 through the dealer.

Some newer high trim GM vehicles can approach $1,000.

Mercedes Benz FBS4 keys can cost more than $1,500 through Mercedes.

These are examples, not universal prices. The exact cost depends on the year, make, model, trim level, security system, availability of aftermarket keys, programming requirements, and several other factors.

The important thing for a car buyer to understand is just how wide the range can be.

Two vehicles sitting next to each other on a used car lot could have similar purchase prices while the cost of replacing their keys is completely different.

Why Can One Car Key Cost $200 and Another Cost $800?

Customers understandably look at two smart keys and wonder how one can cost several hundred dollars more than the other.

Sometimes the answer has less to do with how complicated the key looks and more to do with how many of those keys exist.

Popular vehicles create a large market for replacement keys.

If millions of vehicles use a particular style of key, aftermarket manufacturers have a reason to design and manufacture compatible replacements.

That creates competition and gives consumers more options.

Toyota and Ford are good examples. OEM keys are available, but many models also have aftermarket alternatives that can reduce the replacement cost significantly.

Other vehicles use a more unique key.

If relatively few vehicles use that particular fob, aftermarket manufacturers may not have enough demand to justify developing and manufacturing a replacement.

That can leave OEM as the only realistic option.

Once that happens, the cost can increase dramatically.

This is one reason a fairly ordinary looking smart key can cost $800 or more.

You are not necessarily paying that much because the electronics inside the key cost hundreds of dollars to manufacture. You may be paying it because it is a specialized key with limited availability and little or no aftermarket competition.

The Cost Is Not Just the Physical Key

Modern car key replacement has another expense that consumers rarely see.

Software.

Replacing a key on a newer vehicle is increasingly becoming a software and security procedure rather than simply cutting a piece of metal and programming a remote.

Professional automotive locksmiths invest heavily in diagnostic equipment, programming equipment, security credentials, subscriptions, OEM software, and continuing access to manufacturer systems.

On some vehicles, we have to purchase access specifically to work on that particular VIN.

That expense becomes part of the cost of replacing the key.

Newer Ford Vehicles May Require FDRS

Many newer Ford vehicles now require Ford's factory diagnostic software, known as FDRS, for certain programming procedures.

Independent automotive locksmiths who work on these vehicles have to maintain access to Ford's systems and pay the applicable subscription and vehicle access costs.

That means when you pay to have an OEM Ford key supplied and programmed, you are not simply buying a fob.

There can be a cost associated with gaining the factory software access necessary to properly perform the programming procedure on your specific vehicle.

This is part of the reason automotive key replacement has become more expensive as vehicles have become more technologically advanced.

Newer GM Vehicles May Require Techline Connect

General Motors has moved in a similar direction.

Many newer GM vehicles require GM's Techline Connect factory software for programming procedures.

Again, professional locksmiths need the appropriate equipment, credentials, software, and paid access to work through the manufacturer's system.

Vehicle specific access and subscription costs increase the locksmith's cost of performing the job.

That is particularly important when looking at newer Chevrolet, GMC, Cadillac, and Buick vehicles.

Some high trim models can also have surprisingly expensive OEM fobs.

We have seen replacement key costs on newer GMC Yukon Denali models approach $1,000.

A buyer looking at a late model Yukon Denali might spend hours negotiating the purchase price without ever thinking to ask whether both keys are included.

That second key could represent hundreds of dollars in real value.

Many Newer Hyundai Keys Are Surprisingly Expensive

Hyundai is another brand that can surprise buyers.

People often associate extremely expensive keys with European luxury vehicles, but that is no longer always the case.

Many newer Hyundai OEM fobs can be very expensive through the dealer. We have seen newer Hyundai smart keys approach the $800 range.

That is a substantial expense for someone who just purchased a used vehicle and assumed getting another key would cost a couple hundred dollars.

This is also why you should not assume the cost based simply on the brand.

The year, model, trim, key system, and availability of aftermarket alternatives can make an enormous difference.

Mercedes Benz FBS4 Keys Can Cost More Than $1,500

European vehicles deserve particular attention when you are buying used.

Mercedes Benz is one of the strongest examples.

Newer Mercedes vehicles using the FBS4 security system have extremely restricted key replacement options.

FBS4 is not a system where an independent locksmith can simply generate a new key using conventional aftermarket programming equipment. Replacement keys have to be ordered through the authorized Mercedes Benz system.

It is widely known within the automotive locksmith industry that an FBS4 replacement key through Mercedes can cost more than $1,500.

That completely changes the value of the second key.

Imagine buying a used Mercedes with one key and thinking you will deal with getting a spare later.

After the purchase, you discover that the missing second key represents a four figure expense.

Had you known that while sitting at the dealership, it might have changed the negotiation.

Losing Every Key Can Be an Even Bigger Problem

The cost of a spare key is only part of the equation.

Certain vehicles become significantly more complicated when every working key has been lost.

Jaguar and Land Rover are good examples.

We have had numerous customers with 2020 and newer Jaguar and Land Rover vehicles contact us after being told by their dealership that an all keys lost situation would require replacement of the KVM, or Keyless Vehicle Module.

Depending on the vehicle and situation, module replacement and the associated dealer procedures can push the total repair into the thousands of dollars.

We have heard of Jaguar and Range Rover all keys lost situations exceeding $4,000 when module replacement and related work are involved.

That does not mean every Jaguar or Land Rover that loses all of its keys automatically requires a $4,000 repair. The required procedure depends on the particular vehicle, its security system, its condition, and what programming options are available.

The point is that losing the only working key on certain modern vehicles can be much more serious than people realize.

If you are purchasing a vehicle with an expensive or highly restricted key system, having a second working key can be particularly valuable.

Call an Automotive Locksmith Before You Buy the Car

This is the advice we wish more car buyers followed.

If you are at a dealership and the vehicle only comes with one key, call an automotive locksmith before you buy it.

You do not have to guess what the missing key is worth.

Tell the locksmith the year, make, and model. Depending on the vehicle, they may also need to know the trim level or see a picture of the existing key.

Ask what it would cost to supply, cut, and program a second key.

Do it while you are sitting with the salesperson.

Maybe the answer is $150.

Maybe it is $300.

Maybe it is $800.

Maybe you are looking at a Mercedes where the answer is more than $1,500.

Now you have an actual number to use during the negotiation.

You can ask the dealership to provide a second working key or negotiate the replacement cost into the purchase price.

The important thing is to find out before you buy the vehicle, not after.

Do Not Assume the Dealership's Allowance Covers the Key

If the salesperson acknowledges that the car only has one key and offers you a few hundred dollars off, that might sound reasonable.

But is it?

If another key costs $200, perhaps it is.

If the key costs $800, it probably is not.

If it is an FBS4 Mercedes key costing more than $1,500, definitely not.

This is why getting an actual replacement quote is important.

Treat the missing key like you would treat worn tires, damaged wheels, a cracked windshield, or another piece of equipment the vehicle needs.

It has a replacement cost.

Find out what that cost is and include it in your decision.

Should You Buy an OEM or Aftermarket Car Key?

If an aftermarket key is available, another question is whether paying extra for OEM makes sense.

There is not one correct answer.

The better question is:

How long do you plan to keep the vehicle?

In our experience, a quality aftermarket key can often last approximately five to seven years depending on how it is treated.

A well cared for OEM key may last closer to 10 to 12 years.

Those numbers are not guarantees. How a key is treated makes an enormous difference.

Car keys probably experience more abuse than almost anything else we carry every day.

They get dropped onto concrete. Thrown onto counters. Crushed inside pockets. Tossed into purses. Left in hot vehicles. Exposed to rain. Covered in dirt. Dropped between seats. Buttons get pressed thousands of times.

Some even make an occasional trip through the washing machine.

So when deciding between OEM and aftermarket, consider the vehicle itself.

If you just purchased a nearly new vehicle with 20,000 miles and expect to keep it for another 10 years, spending more for an OEM key may provide better long term value.

If you have a vehicle with 175,000 miles and expect to replace it in another two or three years, paying significantly more for an OEM key that could potentially last another decade may not make financial sense.

Mileage matters.

The age of the vehicle matters.

How long you intend to own it matters.

The price difference matters.

A reputable automotive locksmith should be able to explain your options and help you decide whether aftermarket or OEM makes more sense for your situation.

A Missing Second Key Should Be Part of the Purchase Negotiation

People will spend hours negotiating a few hundred dollars off the price of a vehicle.

They should spend 30 seconds asking how many keys come with it.

If there is only one, pull out your phone and call a locksmith.

Get a quote with the salesperson sitting there.

If another key costs $350, you now know the vehicle is missing something that will cost approximately $350 to replace.

If it costs $800, that should be part of the conversation.

If it costs $1,500, it absolutely should be part of the conversation.

The dealer can provide another working key, adjust the purchase price, or you can decide whether the vehicle still makes sense for you.

What you should not do is discover the price after the deal is complete.

Put Two Working Keys on Your Car Buying Checklist

When buying your next vehicle, check the tires.

Check the brakes.

Check the service history.

Check the Carfax.

Check the warranty.

Check the insurance rate.

And check the keys.

Ask whether the vehicle comes with two fully functioning keys.

If it does not, find out what another one costs.

Modern car keys range from inexpensive mechanical keys to sophisticated security devices tied into manufacturer software and immobilizer systems. Depending on what you buy, a missing key might represent $100, $300, $800, $1,000, or more than $1,500 in replacement cost.

That makes the second key more than a convenience.

It has real value.

If companies buying your used car want to know how many keys you have before determining what your vehicle is worth, you should be asking the same question when you are buying one from them.

Buying a Car With Only One Key in Charleston?

If you are buying a new or used vehicle in the Charleston area and it only comes with one key, call The Key Man before you finish negotiating the purchase.

Give us the year, make, and model and we can help determine what a replacement key is likely to cost and what options are available.

Depending on the vehicle, that could include an aftermarket key, OEM refurbished key, or brand new OEM key.

You can then take that information back to the salesperson and negotiate with an actual replacement cost instead of guessing.

Finding out that your new car is missing an $800 key is useful information.

It is much more useful before you sign the paperwork.