If you have been on the fence about getting an extended warranty for your car, perhaps it’s been a while since you’ve had to bring your vehicle in for repairs. With costs skyrocketing since 2011, driving around without a warranty to cover major repairs is a losing battle. Here are a few figures you should know about.
Check Engine Light Repair Costs
Let’s take the simplest of things – the check engine light. The majority of the time, this comes down to one of two things:
- A bad oxygen sensor
- An incorrectly closed gas cap
These are simple fixes for an auto repair shop. But back in 2012, at the start of the recent extreme price hike, parts and labor on a check engine light fix averaged anywhere from $270 to $400 depending on the state (our home state of California was the 3rd most expensive).
Increasing Prices on a Nationwide Scale
In one recent year alone, replacement part costs for cars went up by 6% and labor costs rose by a shocking 17%. If you think getting a check engine light issue fixed is expensive, imagine needing a new transmission (which often means having an electronic module reprogrammed as well). Across the country, the cost of such a service averages over $5,000!
Why Are Auto Repair Costs Rising?
You may wonder why such a steep rise in repair costs is occurring. There are two lines of reasoning. The first is that newer cars are becoming more complicated and computer oriented, making repair an even more specialized field than it already was. The second is that people are keeping their cars longer (one study suggests that the average age of a decommissioned vehicle is now up to 11 years). As a result, these aging vehicles are experiencing the need for bigger repair jobs, bringing up the average cost of repairs.
Regardless of the reason behind the increase in repair costs, it is vital to keep yourself covered. After all, if you spend $5,000 on repairs, you may as well have had a car payment all year long. The cost-effective solution is an extended warranty.
Extended Warranty Services You Can Trust
Vehicle Service Center is a California-based extended warranty business that provides full coverage options for both new and pre-owned vehicles. Don’t get hit with thousands of dollars in expenses for a catastrophic repair bill. Get covered now by calling 1-800-280-6708.