Your car suddenly breaks down, or you may be in a car collision. No matter what sudden car disaster you encounter, do you have the money to pay for repairs? The question may seem like nonsense to some people who may likely have the savings to pay for surprise repairs. Unfortunately, for a third of all American drivers, their answer to the question is a resounding “no”.
The American Automobile Association found that one out of three American motorists lack the funds to pay for sudden car repairs. Pushing through with the repair will place these motorists into debt. For a clearer look on the study results, about 64 million drivers lack out-of-pocket money to pay for a $500 to $600 bill, which is the average cost of car repair.
Now, you may have enough out-of-pocket money to cover surprise repairs for your car, but you may lack the funds in the future if you fail to set aside a budget. To prepare for future car repair expenses, you can start saving $50 a month. You can save more if you want and if you can.
Maintain and Inspect
Besides saving up, you can maintain your car and have it inspected regularly. This way, you can prevent sudden car breakdowns that result from defective parts. You will still have to be careful when driving on the road, however, to avoid highly dangerous and costly collisions.
Car Trouble Guidelines
When you do encounter a road mishap, the AAA advises to get a written estimate of the repair from one of the car repair shops in Arvada. You can also get a second opinion from an experience mechanic you know and trust. Finally, you can negotiate the total costs with the shop. You may be able to pull the costs down in this way.
Just as you save up for an emergency fund or a budget for medical emergencies, you can also save up to have ready cash when you have trouble with your car.