The recent car industry supply chain issues have had a few significant affects on car repair and maintenance over the last couple of years.
We have seen…
- Decreased inventory of car parts and purchasable cars (new AND used).
- Increased demand for vehicle maintenance.
- And thus, increased prices of car parts and repairs.
If that’s not enough, the car industry is experiencing labor shortages like most other industries these days – further contributing to the bottleneck of repairs in many car service shops.
For many, the long wait for service and skyrocketing repair costs are strong enough reasons to put a pause on all needed vehicle repairs and maintenance – at least for the time being, until inflation has gone down.
HOWEVER, we’ve witnessed a significant number of similar situations lately in which customers have come to us with major (expensive) car problems that could have been avoided had they scheduled an appointment as soon as they noticed the first few early warning signs. We’ve written this article to dispel some common misconceptions about car industry inflation and help YOU avoid the same mistake we’ve seen from several of our customers.
Avoiding car repairs now could lead to even greater problems down the road
If you ignore a minor health issue – such as high cholesterol – for too long, you may place yourself at risk for much more serious problems, like a heart attack or stroke.
The same goes for your car. If disregarded, any minor issue with your vehicle could grow into a problem so bad that your car becomes unsafe and undriveable. By the time a repair is absolutely necessary, you can likely still expect high costs and a long waiting period. To prevent an untimely breakdown and ensure you aren’t without a car for a long period, it’s best to schedule a service appointment as soon as you see the slightest warning sign.
Car industry inflation may not decrease soon
Car repair and maintenance has experienced its largest increase since 1974, according to the U.S. Bureau of Labor Statistics. Since June 2021, vehicle parts and equipment have spiked nearly 15 percent.
Although some car industry experts think prices may fall in late 2022 and into 2023, the inventory and prices of car parts are still unpredictable. Prices could climb even further by the time you’re finally ready to send your car to the shop. It’s still your safest bet to take the current prices and get your car fixed before minor issues become major, more expensive problems down the road.
It will not be cheaper OR easier for you to buy a new or used car
The low inventory of car parts is ALSO, affecting the production of new vehicles. This has not only dwindled the supply of new cars, but it has also increased the demand for pre-owned vehicles. No matter where you search for a car, you’re going to be hard-pressed to find an affordable option.
Most times, it would pay more to do a full-blown repair on your old, worn-down car than to spend money on one of the few new or used cars you can find in dealerships right now.
How to save on car repairs in 2022 to 2023
Although prices of car parts remain high and service wait times aren’t getting any shorter, there are still some things you can do to save a little money on car repairs.
- Plan ahead with routine maintenance – Schedule regular preventative maintenance BEFORE problems get bad enough to require fixing.
- Budget more for unexpected repairs – To set a realistic, accurate budget, ask your service provider to provide an estimated timeline of potential upcoming repairs.
- Reconsider your insurance carrier – Are you paying for car insurance that’s simply too high? Perhaps there is a better deal for you out there. It never hurts to look!
- Choose a service provider with the best prices (without sacrificing quality) – If you’ve been taking your car to the dealer for service, now may be the time to find an alternative service shop. However, if you own a European car, make sure you choose a service provider that has the experience, expertise, and equipment to meet your vehicle’s specific needs.
Performance Auto Specialists – Wilmington, NC
Performance Auto Specialists is proud to offer eastern North Carolina efficient, affordable European car repairs, with years of experience fine-tuning our craft. We service European vehicles 3 years and older that are no longer covered under a factory, bumper-to-bumper warranty.
Ready to give your European car the maintenance it deserves? Get quick and reasonably priced European auto repair in Wilmington here with Performance Auto Specialists! Schedule an appointment or call us at (910) 343-1650.
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