Survey Finds That Millions Of American Drivers Cannot Pay For Major Car Repairs: How You Can Avoid This Trap
Posted on November 1st, 2011 by Warranty Direct
A recent survey of American motorists by the AAA found that millions of American drivers would be in serious trouble if their car needed a major repair now:
- One in four could not pay for a car repair of $2,000
- One in eight could not even pay for a $1,000 car repair bill
- One fourth of drivers are neglecting car repairs and maintenance largely due to the economy – which could put them at risk for unexpected car repair costs.
If a $2,000 car repair came up for you, how would you pay for it? The survey found:
- 38 percent would pay with funds from a savings account
- 20 percent would pay with their credit cards
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