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Almost four million road users have changed their minds on selling their vehicles after spending just over a couple of hundred pounds on maintenance. After updating their vehicle, road users then kept their cars for an extra one year and two months which could be vital for many families struggling financially due to the pandemic.
The average amount spent on repairs was £928 bit one in ten made this world on just £250.
Almost one-third of road users said they changed their minds because the upgrades had made their car safe and reliable.
Over a quarter of owners said they had kept their car to get value for money from their investment in paying for repairs.
Meanwhile, 25 percent said they had their work done to update their car as this would be cheaper than purchasing a new one.
One in six admitted they didn’t want the hassle of needing to swap a car with 15 percent adding that they could not find a replacement vehicle they liked.
A total of 20 percent said their financial circumstances had changed meaning they could no longer afford the new car.
With garages remaining open throughout the second lockdown, road users are likely to delay big purchases due to an uncertain financial situation.
The survey revealed that owners in London and the South East were the most likely to fix their vehicle with 31 percent and 39 percent admitting to having kept a vehicle after conducting some basic repairs.
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But those in Wales and the East of England were least likely to have changed their minds with just 23 and 24 percent of owners keeping their cars.
Roger Griggs, communications director at KwikFit said for many it made “financial sense” to repair their cars rather than buy from new.
He said it was “no surprise” road users were looking to save money and make their car last longer based on the current circumstances.
Mr Griggs said: “This research shows that although there is undoubted appeal in getting a new car, when it comes to the crunch, many of us realise it makes financial sense to stick with the one we have got for a bit longer.
“We’ve seen that some drivers have spent less than £250 on repairs and kept their car for another year, which at £20 a month is great value for money.
“In an environment where everyone is looking to make all types of products last longer, it’s no surprise that many drivers are investing in maintenance and repairs of their existing vehicles.”
Simple car repairs can also help drivers avoid heavy charges and penalties which may make owners more likely to keep their vehicles.
Driving a car in a dangerous condition could see road users issued a £100 on the spot fine and issued three penalty points.
However, in some cases costs can rise to £1,000 or even as high as £10,000 if drivers are suffering four tyre problems at the same time.
Road users travelling in a dangerous vehicle could be hit with a careless driving charge which would see £2,500 slapped onto offenders.
Car insurance premiums are likely to be increased if road users report some minor damage.
However, failing to report this to an insurer could see your policy invalidated as your perceived risk may have changed.
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