{"id":359,"date":"2022-11-04T20:20:23","date_gmt":"2022-11-04T20:20:23","guid":{"rendered":"https:\/\/www.autobuyersmarket.com\/news\/?p=359"},"modified":"2025-05-05T10:24:30","modified_gmt":"2025-05-05T10:24:30","slug":"inflation-not-only-driving-up-new-and-used-car-prices-but-maintenance-as-well","status":"publish","type":"post","link":"https:\/\/www.autobuyersmarket.com\/news\/2022\/11\/04\/inflation-not-only-driving-up-new-and-used-car-prices-but-maintenance-as-well\/","title":{"rendered":"Inflation Not Only Driving Up New and Used Car Prices, But Maintenance As Well"},"content":{"rendered":"\n
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Reports indicate that the costs associated with maintaining and repairing automobiles has exceeded the rate of inflation over the last several years; in 2022, those costs then jumped by a nearly unprecedented degree. File photo: Konstantin Shishkin, Shutter Stock, licensed.<\/figcaption><\/figure>\n\n\n\n

WASHINGTON, D.C. \u2013 It’s a story everyone is becoming all-too-familiar with\u2026 rampant inflation and COVID-19-related supply chain issues have resulted in a shortage of new cars \u2013 and high prices for the ones still available \u2013 causing many motorists to resort to buying used, a market that is correspondingly also becoming much pricier as a result.<\/p>\n\n\n\n

With the market in such a state of financial turmoil, more car owners are doing what they can to prolong the lives of the vehicles they already own; however, they are quickly discovering \u2013 much to their dismay \u2013 that simply maintaining their current paid-off ride is becoming more expensive as well.<\/a><\/p>\n\n\n\n

Reports indicate that the costs associated with maintaining and repairing automobiles has exceeded the rate of inflation over the last several years; in 2022, those costs then jumped by an unprecedented degree. Currently, the typical costs associated with the maintenance of an off-warranty vehicle exceed those of a new car, and with more people holding onto their current cars as long as possible \u2013 an average of at least 12 years \u2013 the costs of keeping them on the road are starting to raise eyebrows at a time where people are struggling to save every dollar they can.<\/p>\n\n\n\n

One main reason the price of repairs for older cars is growing is the simple fact that newer cars are built better and encounter fewer mechanical issues when compared to vehicles from a generation or two prior. In addition, replacement parts for older vehicles are becoming more scarce \u2013 driving up prices \u2013 and, with inflation taken into account, replacing say, a timing belt or head casket on your old ride can become a financially daunting task.<\/p>\n\n\n\n

Essentially, while those at least lucky enough to be in a position to buy a new car in today’s marketplace, most of whom are enjoying cutting-edge tech and greater reliability, owners of older cars just keep paying more for less.<\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON, D.C. \u2013 It’s a story everyone is becoming all-too-familiar with\u2026 rampant inflation and COVID-19-related supply chain issues have resulted in a shortage of new cars \u2013 and high prices for the ones still available \u2013 causing many motorists to resort to buying used, a market that is correspondingly also becoming much pricier as a […]<\/p>\n","protected":false},"author":4,"featured_media":360,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-359","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-updates","entry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\n\t\t\n