Many drivers may feel that they don’t have the time or money to address vehicle repairs immediately, but be aware that ignoring some repairs can get you pulled over and even ticketed, says the Car Care Council.
Tag: car repair
Many American drivers who have to pay for unexpected, major car repairs could be at risk of facing costs they cannot afford. Fifty-one percent of consumers reported paying for major vehicle repairs in the last five years, according to a survey of more than 2,000 Americans conducted online for Ally Financial by The Harris Poll. Of consumers who reported paying for repairs, four in five (80%) said they spent $500 or more, and nearly three in five (58%) said they spent $1,000 or more. One in three (33%) said they spent $2,000 or more.
Budgeting for monthly expenses like groceries and utility bills is a no-brainer, but according to a new study conducted by Liberty Mutual Insurance, Americans aren’t budgeting for essential home or car maintenance. The research found that the majority (80%) of homeowners and (74%) of auto owners don’t have a plan or budget in place and tend to procrastinate or deal with home and car maintenance issues as they arise. In fact, almost half of Americans (48%) have less than $1,000 saved for home maintenance issues or repairs and one in three have no money saved. When it comes to auto maintenance, the majority of Americans (60%) are saving less than $500 and more than one-fourth aren’t setting aside any money at all.
Auto Parts Retailers Experience Healthy Sales Growth As Consumers Make Repairs to Keep Aging Vehicles on Road Longer
Auto parts retailers are benefiting from consumers now making good on their intentions to keep their aging vehicles on the road longer, after deferring repairs for the last two years. According to automotive aftermarket research by The NPD Group, auto parts retailers experienced a seven percent growth in dollar sales for year-to-date April 2010 versus a year ago. The top five hard parts categories, based on unit volume percent change for year ending April 2010, are suspension, application electrical, climate control, brakes, and driveline.