Riding in style? Here's how much a Formula 1 race car costs (hint: it's a lot)

There is more to Formula 1 than its swift speeds. Behind these thrilling races are integral parts and mechanics that come at a staggering price, all for the sake of victory.

Normal cars can be expensive, let alone a racing car. In fact, Formula 1 cars can cost a pretty penny; more than you may think.

No need for a racing suit or helmet in order to crunch these numbers. Here's how much a Formula 1 car costs, plus this season's schedule.

How much does an F1 car cost?

The exact cost of a Formula 1 car varies depending on its overall setup. A set of wings can cost around $200,000; some steering wheels can be priced at $50,000, according to Red Bull. An engine could even cost a whopping $10.6 million.

The cost of a Formula 1 car hovers at around $15.9 million, but this is an estimate, states Red Bull. The current price range for one of these racing cars may lie between $12 to $15 million, according to Red Bull.

During the 2022 season, F1 teams were allotted $145.6 million for spending but that didn't all go to one car. Instead, the money could be put toward building the driver's car. However, the budget also included other expenses "minus driver salaries and a few other exceptions," according to Red Bull.

How fast can a F1 car go?

On average, a Formula 1 car can reach speeds just above 220 mph. F1 cars can accelerate from zero to 60 mph in just 2.6 seconds.

The official fastest speed by an F1 driver is 372.5 kph, or about 231.46 mph, according to Red Bull. The record was set by Valtteri Bottas at the 2016 Mexican Grand Prix.

2024 Formula 1 season schedule

Here’s the official schedule of races for the upcoming season, with qualifying events happening the day before each.

• March 2 - Gulf Air Bahrain Grand Prix

• March 9 - STC Saudi Arabian Grand Prix

• March 24 - Rolex Australian Grand Prix

• April 7 - MSC Cruises Japanese Grand Prix

• April 21 - Lenovo Chinese Grand Prix

• May 5 - Crypto.com Miami Grand Prix

• May 19 - MSC Cruises Gran Premio Dell'Emilia-Romagna

• May 26 - Grand Prix de Monaco

• June 9 - Grand Prix du Canada

• June 23 - Aramco Gran Premio de España

• June 30 - Qatar Airways Hungarian Grand Prix

• July 07 - Qatar Airways British Grand Prix

• July 21 - Hungarian Grand Prix

• July 28 - Rolex Belgian Grand Prix

• Aug. 25 - Heineken Dutch Grand Prix

• Sept. 1 - Pirelli Gran Premio D’Italia

• Sept. 15 - Qatar Airways Azerbaijan Grand Prix

• Sept. 22 - Singapore Airlines Singapore Grand Prix

• Oct. 20 - Pirelli United States Grand Prix

• Oct. 27 - Gran Premio de la Ciudad de México

• Nov. 3 - Lenovo Grande Prêmio de São Paulo

• Nov. 23 - Heineken Silver Las Vegas Grand Prix

• Dec. 1 - Qatar Airways Qatar Grand Prix

• Dec. 8 - Etihad Airways Abu Dhabi Grand Prix

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This article originally appeared on USA TODAY: How much does an F1 car cost? The price of an elite race car explained