Key findings from a recent CarGurus survey of 1,000 U.K. drivers without a warranty reveal that an unexpected car repair bill of £772 is the ‘breaking point’ for drivers to consider buying a new vehicle.
Drivers are financially strained when it comes to car repairs. They are willing to tolerate fewer than three faults and spend an average of £772 over the next 12 months on unexpected repairs. Moreover, they’re only willing to wait a maximum of 10 days for an unplanned repair to be carried out, highlighting the immediate financial impact of car issues.
Should the “breaking point” be reached, owners would spend an average of £14,320 on a new car—£13,548 (1,752%) more than they would spend to fix unexpected issues to keep their current car in good order. This data comes as the average age of vehicles on U.K. roads is now up to nine years, a full year increase compared to 2019.
Reliability (57%) and costs (45%) are the top reasons today’s drivers say they would want to replace their old car, reinforcing the “breaking point” factors. Other reasons include safety concerns (20%), being able to afford a better car (20%), and the size being unsuitable (12%).
Survey data showed that 50% of U.K. car owners have made unexpected trips to the garage in the past 12 months. Outside of scheduled servicing and M.O.T.s, according to the CarGurus survey, U.K. drivers spend an average of £269 per year on unplanned repairs. This is on top of £427 spent on average per year on planned maintenance, such as servicing and M.O.T.s.
40% of respondents said they are putting off repairs because of the cost, and cars are being driven with issues such as dashboard warning lights, smoking exhausts, rattling engines, worn tyres, and rust.
The CarGurus survey also delves into the psychological impact of car repairs, revealing that nearly three-quarters (72%) of drivers are stressed by the prospect of unplanned car repairs. This stress is further compounded by the fact that 90% of drivers rely on a garage to carry out repairs for them, adding to the emotional burden.
The CarGurus study also outlined car brands that British drivers perceive to be the most reliable and, therefore, the least likely to reach a “breaking point”:
The survey, commissioned by CarGurus, a leading automotive marketplace in the U.K., illuminates the unexpected problems that could prompt Brits to opt for a new car over repairing their current one.
Chris Knapman, Editorial Director at CarGurus U.K., commented: “There is always the potential for unexpected car expenses, especially as drivers hold onto their cars for longer. Our study reveals that the tolerance for unforeseen issues is very low. For those who have reached their limit, upgrading to a vehicle with an extended manufacturer-backed warranty can be a sensible option, and it is achievable within the average budget of £14,320 that owners are willing to spend. To assist consumers, CarGurus experts have identified the most extended manufacturer-backed car warranties in the U.K. We have also chosen a variety of vehicles from those brands to cater to different needs, from city cars to seven-seaters and everything in between. It’s essential to pay attention to the details, so read our guide to understand what is and isn’t included in each manufacturer’s warranty and the conditions that must be met to qualify“.
- Toyota
- Volkswagen
- Ford
- Honda
- Volvo
- BMW
- Audi
- Mercedes
- Nissan
- Hyundai
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