The cost of car repairs keeps rising: here’s why

It’s estimated that the average car repair costs have risen by nearly 20% in the last year. So you’re probably wondering why it costs so much to get your car fixed right now. Here’s why.

Getting your car repaired is likely to cost a lot more than you’re expecting. In June, the US Bureau of Labor Statistics reported that car repair costs were around 19% higher in 12 months.

Although inflation as a whole has increased significantly, car repairs, in particular, have risen rapidly. There are a few factors at play in this. The first is that the COVID-19 endemic has disrupted global supply chains, which has meant supply chain issues across the board.

Another factor is the cost of living crisis has meant more demand for used cars, as many consumers simply can’t afford new ones.

However, on the whole, older cars require more maintenance than new ones and they’re also more likely to break down, which means more demand for mechanics in a time where there simply aren’t enough skilled mechanics available due to higher labor costs.

Another issue is that the cost of parts has increased in the last few years. Tanveen Vohra, manager of content and communication at Insurify, recently pointed out that “Material costs, such as the price of steel, aluminum, and rubber, have increased due to global supply chain issues that have plagued the industry for the last few years.”

What can consumers do?

There are a few steps consumers can take to protect themselves against high prices:

• Take out an extended warranty and consider adding comprehensive, weather damage, vandalism cover, and collision coverage to their car insurance policy.
• Keeping up with routine maintenance like oil changes, air filter replacements, and tire rotations can prevent larger and costlier issues down the road.
• Read the owner’s manual, as it usually provides maintenance schedules and guidelines specific to your vehicle that can save you money further down the line.
• For simple tasks like changing air filters, wiper blades, and even oil changes, consider doing it yourself if you have the tools and skills (only if you feel confident doing so)
• Get multiple quotes from multiple mechanics or repair shops and compare the prices and services you’re offered to find the best deal.
• Drive carefully to avoid accidents and minimize wear and tear on your vehicle. Aggressive driving can lead to more frequent repairs.