Millions of car owners are delaying maintenance repairs as costs rise
Published On Dec 5, 2024, 7:00 AM
Millions of car owners in the U.S. are postponing routine maintenance and repairs due to rising costs and economic pressures. Over 30 million vehicles are reported to be overdue for essential services like oil changes and tire rotations. Experts note that this trend, referred to as "deferred maintenance," poses risks to vehicle safety and longevity, and has been exacerbated by inflation and high interest rates. The increase in auto loan delinquency rates indicates that many consumers are facing financial strain, making necessary repairs less affordable. As cars age, the likelihood of needing costly repairs increases, further complicating the situation for car owners.