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Volvo: Safety Beyond the Star RatingsThe Rising Cost of Car Repairs
Here’s what you should know about the rising cost of car repairs and what to look out for when your car needs work.
The Perfect Storm Contributing to High Repair Prices
New and used car pricing has shot into the stratosphere over the last few years but it’s not just the cars themselves that have seen that bump. Maintaining a car is more expensive than ever and there’s no clear end in sight. Today, we will break down what’s going on and explain some factors driving prices up.
Modern Cars Have a lot of Technology
One clear benefit of modern technology is the improvement we’ve seen across all brands in terms of reliability. Cars last longer than they did in the past. At the same time, advanced technology is packed into just about every single mainstream automobile on sale today. That tech is one reason why car repairs are more expensive today.
For example, in the past, accidentally smacking a pole with one’s bumper used to simply require paint and bodywork. At most maybe a simple light housing might need replacing. Today, smacking a modern bumper cover against something could also require parking sensor replacement, a light housing with expensive LED technology, or even radar components for features like adaptive cruise control or lane-centering assist.
Car Part Theft On The Rise
At the same time, criminals have a keen eye for such expensive equipment. Lights, wheels, and catalytic converters are all worth more today than in the past. Criminals can get top dollar for these parts on the black market.
Catalytic converters in particular are worth hundreds, sometimes thousands of dollars, and can be removed from a car in under a minute by an experienced thief. Replacing one typically costs over $1300 and can take weeks as supply constraints continue to be a factor.
Shops Pass Along Higher Costs
On top of both of these issues is the problem of reduced supply for auto repair shops. Component manufacturers are still recovering from the supply chain crunch that happened during the pandemic.
As a result, parts cost more and that cost is getting passed along to the car owner. It’s not just an inflation issue either. Repair costs for automobiles are rising at a rate that’s more than 10 percent higher than inflation across the country. Shops also have to deal with increased overhead too. Before the pandemic began, reliable and skilled mechanics were already hard to come by. Today, they’re even harder to find and they’re demanding higher pay rates for their skill. Again, repair shops are passing those costs along to the customer.
What Can You Do About High Car Repair Prices?
First and foremost, we strongly recommend a car with great warranty coverage and complimentary maintenance. A number of automakers like Jeep, Hyundai, and Lincoln all offer exactly that kind of coverage. Short of owning such a vehicle, buying a well-maintained used car with good service records is a great second option.
Finally, regardless of what vehicle one picks, maintaining it consistently is key too. We have an entire article on exactly how to do just that. With these tips in mind, you’ve got the keys to enjoy more miles on the road while you keep more dollars in your pocket.
