Follow us today...
Repair Costs Are Out of Control
Have you had any repairs done lately and discovered that your vehicle’s costs have risen significantly? Even to the point where you felt that they have gotten out of control? As it turns out, you are right…and you are not alone.
Related article: Three Important Questions to Ask Before Repairing Your Old Car
According to a recent CNBC News report, “Car repair costs are up almost 20% in the past year, according to the consumer price index — more than six times the national inflation rate and among the largest annual price increases of any household good or service.”
Why Auto Repair Costs are So High
In earlier articles we have learned that there is a new trend in repair costs that has gotten the attention of experts---both analysts and mechanics---that car repair customers are paying too much on their parts and repairs.
Related article: Everything You Need to Know About Saving Money Buying Toyota and Lexus Parts
Now we are not talking about the highest-end sports and luxury cars or Tesla battery replacement issues. And we are not talking about unscrupulous service centers overcharging for repairs or conning a customer into a repair that they did not need. Rather, we are talking about the vehicle types most Americans own and enjoy---until they find out what some repairs will cost them.
Related article: Used Cars That Cost the Most to Maintain Say Consumer Reports
In the news report, CNBC analysts have identified the reasons for the repair costs to be a multifactorial cause and effect relationship. So much so, that being a car owner today carries with it financial burdens that have become harden to bear.
The 6 causes listed include:
1. Ongoing supply-chain issues---The microchip supply issue we’ve experienced during the pandemic and afterward are a good example of this.
2. Longer vehicle ownership---While the average length of car ownership is 8 years, the “…average age of passenger cars and trucks in operation has increased to 12.2 years in 2022, up from about 10.5 years in 2010, according to S&P Global Mobility” states CNBC News.
3. More car crashes---Accident statistics for auto accidents are significantly up which translates to “…a greater demand for mechanics, raising prices for car repairs.”
4. Fewer auto repair technicians---A trend toward fewer people entering auto repair as a career and the increasing loss of good mechanics means that labor costs of repairs will rise.
5. High-tech services---Many garages are adding photos and video to their customer care services as a way to cover themselves legally from complaints and inform/protect customers on repair recommendations…at an added cost to the customer, of course.
However, it is the 6th cause that is the topic of this article…” More Tech in Today’s Cars.”
A recent Ford Tech Makuloco YouTube channel episode does a Show-and-Tell about this cause and why a 2018 Ford F-150 owner had to pay over $5,000 due to water damage from water leaking into his taillights.
Follow along with the host and see how the diagnosis was reached, why it costs so much to repair, and most importantly---how to protect your taillights from water damage.
Here are a few informative articles related to car repairs that can save you money:
- Common Car Repair Mistake That Costs Owners Big Bucks Every Day
- Crazy Way to Cut Your Car Repair Costs in Half that Works
- Toyota Maintenance Mechanic Shows How to Cut Brake Repair Job Costs in Half
Timothy Boyer is an automotive reporter based in Cincinnati. Experienced with early car restorations, he regularly restores older vehicles with engine modifications for improved performance. Follow Tim on Twitter at @TimBoyerWrites for daily news and topics related to new and used cars and trucks.
COMING UP NEXT: Used Midsized Sedans with the Best Fuel Economy Recommended by Consumer Reports
Image source: Pixabay
Follow us today...
