New research from one discount car insurance specialist found that motoring costs have continued to spiral out of control, as the average three- to four-year old cars cost a total of £338 in repair work.
Motor car insurance specialists Warranty Direct – which also provide Telegraph Car Warranties to its customers – commented on their research findings by saying that this is dire news for those Brits already trying to cope with rampant inflation. Not only are car insurance rates rising, but the cost of a tank of petrol is also increasing quite swiftly, up to 149.9p this week from its previous high of 134.81p.
Many who consider themselves savvy car buyers will purchase either a new or a gently-used car, thinking that the chances of it having something wrong mechanically will be reduced by its youth. Moreover, only the first three years of a a car’s lifetime is covered by manufacturer, so once this warranty expires, many people end up exposing themselves to unnecessary risks involving high repair costs.
Whilst taken apart from the more obvious maintenance, such as the costs of keeping brakes, exhausts, and tyres, the most likely reason for a car to not pass its first MOT is due to suspension component failures. Speed bumps and potholes may be the driving force behind these schemes, however.
The second part most likely to end up damaged and in need of repair is the ABS braking system, a critically important safety system now fitted on a majority of cars in the UK. The average cost to repair such an ABS braking system was found to be £667.