An Easy Plan for a Car Repair Bill
The average car repair bill costs around $550—an amount that would have many Americans reaching for their credit card.
A survey from Morning Consult found that 35% of Americans would need to go into debt to pay for an unexpected expense and an additional 17% would be unable to afford it at all. That translates to 111 million drivers without enough savings to cover a routine car expense.
How can you avoid being one of them? At Garden Savings Federal Credit Union (FCU), we understand the financial strain that car repairs can bring. That's why we offer a solution that not only helps you avoid the stress of unexpected bills but also keeps your finances in check. Our Mechanical Breakdown Protection (MBP) coverage has been consistently saving our members substantial amounts of money on mechanical repair costs.
Here are a few more suggestions to help you avoid a car repair crisis:
- When buying a new or used car, look at not only the price and the monthly payment, but also how much that car is likely to cost to own over the coming years. Resources such as Kelley Blue Book’s five-year cost to own rankings can give you some reasonable estimates.
- Stick carefully to the maintenance schedule recommended by the manufacturer. Today’s cars are better made and can last longer than in the past. But to get the most out of them, keep up the maintenance.
- Find a repair shop you trust. If you are not using a dealership, a good starting point is to check the auto services listed on the Better Business Bureau website. Enter your zip code to find businesses in your area with an A+ rating.
- When you do have to go in for a repair, get a written estimate for the work. Try negotiating the estimate and ask if the shop gives any applicable discounts, such as for membership in AAA or AARP.
No matter how new or well-made your car, some repairs are inevitable. So, save yourself the anxiety by knowing you’ve got it covered.
Our Mechanical Breakdown Protection is designed to provide you with significant savings on mechanical repair costs. In 2022, we helped approximately 300 members save an average of $2,137.40 each through our MBP coverage. As of 2023, the savings have continued to grow, with our members collectively benefiting from $210,011.13 in mechanical repair cost savings year-to-date. These are real savings that go back into our members' pockets, helping them maintain their financial stability.
Car repairs don't have to be a source of stress and financial strain. Garden Savings FCU is dedicated to providing you with the tools and resources needed to navigate car ownership confidently. With our MBP coverage and expert guidance, you can enjoy your journey on the road, knowing that both your vehicle and your finances are well-protected. Contact our loan officers today to learn more about our Mechanical Breakdown Protection and how we can help you save thousands of dollars in repair costs.
Garden Savings Federal Credit Union
The local credit union in your neighborhood.
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