If you've determined that your power steering pump is faulty, replacing it can be rather costly. In general, a brand new power steering pump can cost you as little as $400, or upwards of $800. This variation will be dependent on the make and model of your vehicle. Naturally, high-performance, heavy-duty, or luxury cars will cost you more when you need to replace the pump. Although, if the power steering pump isn't too badly damaged, you could have it repaired, instead. This route will save you some money, with a typical repair setting you back between $200 to $350. Before you do spring up for a pump replacement, it might also be worthwhile making sure other components, such as the hoses, aren't at fault. These are, of course, cheaper to replace than an entire pump.