Survey: Many can't afford car repairs

BOISE - One in four American drivers could not pay for a car repair of $2,000 if faced with one today, and one in eight would be unable to pay for a repair bill of $1,000, based on a new survey conducted by AAA.

Results of the national survey show that more than half of American drivers are holding onto their older vehicle because they don't want to be saddled with the costs of a newer one. In addition, one quarter of drivers admit to neglecting repairs and maintenance in the past 12 months due to the economic climate. Doing so could make necessary repairs even costlier later on, according to AAA automotive experts.

"Many motorists are between a rock and hard place, when it comes to knowing what to do with their car repairs," according to AAA Idaho spokesman Dave Carlson. "They rely on their cars for a financial livelihood and losing them could be financially devastating during an already troubling economic time."

Some motorists put off necessary repairs, but they're really betting against the odds that it won't cost them more when they do visit the auto repair shop, Carlson said. "It's more prudent to continue to maintain their vehicles and to have a financial emergency plan in place should be they be faced with a sudden unexpected auto repair bill."

Here are highlights from the survey:

* Twenty-eight (28) percent of US adult vehicle owners could not afford a $2,000 repair bill.

* Nearly two in ten (18%) could not pay a $1,000 repair if needed for their personally owned vehicle.

* One-quarter (26%) of owners indicate that a credit card is their primary source for paying for repairs

* About one in four (23%) of owners indicate they have neglected repairs and routine maintenance for their vehicles in the last 12 months because of the current economic climate.

* Half of U.S. adult vehicle owners (54%) have opted to keep an older vehicle in the last 12 months because they did not want the financial burden of paying for a new one.

While 46 percent of respondents could pay for a $1,000 repair with funds from personal savings, costs for repair of a transmission can range between $2,000 to $4,000, and an engine repair can exceed $5,000.