A new AAA survey states Hoosiers are having a tough time paying for car repairs. The survey says one in four American drivers could afford to pay a $2,000 car repair bill … if they had to. The survey also shows that one in eight would not be able to pay a $1,000 repair bill. More than half also say they’re holding onto their vehicles longer.
“Yeah, they’ve been keeping ‘em running. Can‘t afford the new ones, gotta keep the old ones going. Been good for us,” said mechanic Ty Tarr.
25% of drivers admitted to neglecting repairs and maintenance on their vehicles in the past year. The survey says that of those who could afford to pay a $2,000, 38% would pay from savings, 20% would use their credit cards and 11% would borrow the money from family, friends, retirement or home equity.
Officials at AAA say costs vary, but on average, transmission repairs run from $2,000 to $4,000, an engine repair can run $5,000, major brake repairs run from $350 to $1,000 and a new set of tires run from $250 to $1,000. Car repair experts say motorists can most often avoid the need for major repairs by keeping up to date with regularly scheduled maintenance.