Car Owners Face Tough Choice as Inflation Drives Repair and Ownership Costs Higher
As inflation continues to pinch budgets nationwide, drivers struggle to decide whether to repair aging vehicles or buy new amid soaring costs. Mike Hilzley, spokesperson for Auto Safety Center in Wisconsin, urges customers to carefully calculate expenses before making costly decisions.
“In a tough economy do you fix your car or dump your car,” Hilzley said. “I’m a big numbers guy and the fact of the matter is the numbers don’t lie.” With gas prices still high and grocery bills rising, vehicle expenses add another heavy burden on households.
Fixing Your Car Often Cheaper Than Buying New
Hilzley points out most drivers can repair their current vehicles cheaper than financing a new or used car. According to Bankrate.com, the average cost to own a new car runs about $735 monthly or $8,800 per year. Used cars cost roughly $523 a month, which totals $6,279 annually.
But that’s before factoring in routine maintenance and unexpected repairs on a used vehicle, such as tires and brakes — expenses Hilzley warns buyers often overlook. He also highlights the burden of long-term loans, with the average finance period stretching to 66 months (5.5 years).
Flexible Financing Options to Support Tight Budgets
To ease the financial strain, Auto Safety Center offers 6 months of 0% interest financing, making repairs more accessible for those facing restricted cash flow amid economic uncertainty. “We want people to explore all options and run the math,” Hilzley added.
Inflation Tops Business Concerns
Recent surveys reveal inflation weighs heaviest on businesses, with 35% ranking it as their top challenge. Workforce shortages and rising health care costs follow at 25% and 16% respectively, reflecting broad economic pressures that ripple down to consumers.
Local Auto Centers Are Available Now
Auto Safety Center operates four Wisconsin locations, including two in West Bend, one in Cedarburg, and a fourth in Menomonee Falls. Drivers needing immediate vehicle repairs or financial consultation can contact them to discuss the best option for their budget and vehicle condition.
This urgent economic dilemma resonates deeply with Montana and US drivers alike as inflation impacts transportation costs everywhere. Consumers nationwide should consider repair and financing options carefully before making costly replacements during these volatile times.
For more information, visit Auto Safety Center or check updates on WashingtonCountyInsider.com.
