Two-thirds of drivers not planning for car repairs

Two-thirds of drivers not planning for car repairs 21st July 2015

Many British drivers are risking their cars being out of action because they are not planning for the possibility that their vehicle could break down and need repaired, according to new research. 

Allianz surveyed British drivers, and found that as few as 29 per cent are putting money aside in case they need to have something in their car fixed. That means more than two-thirds are risking not being able to afford to have essential work carried out. 

The number who are prepared is made up of just 15 per cent who said that they have sufficient funds to be able to cover the cost of repairs set aside, and 14 per cent who believe that their warranty would cover any essential repair work that needed carrying out. 

Some 29 per cent of respondents to the survey said they would have to dip into their savings to be able to pay for repairs to their vehicle, while a further 23 per cent said that it would come down to relying on their credit card. 

Planning ahead and making sure you have enough saved for any eventuality, whether it is needing to have new tyres fitted, or something more costly, is essential for drivers who rely on their vehicles. 

Liz Grindell, head of warranty for Allianz Global Assistance in the UK, said: "It’s clear from our survey that most people fail to plan ahead for car repairs, with a small minority of people budgeting for extra costs and even fewer having suitable warranty cover. 

"How many people would be happy having to use their savings to fix their car rather than to pay for a holiday or splash out on that new gadget or pair of shoes?"

Putting money away for potential repairs is something that's easy to forget. But remember, the cost of driving doesn't end at purchasing, taxing and filling it with petrol. Road safety relies on maintenance and upkeep, and this cost should always be considered. 

Posted by Danielle Barge