Unless a car is under warranty, or you’ve purchased a reliable extended service contract, paying for periodic repairs is part of the cost of automobile ownership. Now and then, it’s a big-time cost, if something like an automatic transmission goes bad, or the engine develops serious troubles.
Nowadays, with the economy faltering and unemployment stuck above 9 percent (and the real number of unemployed and underemployed Americans far higher), coming up with thousands of dollars for a major repair is a formidable obstacle for many of us. According to an AAA survey, one-fourth of Americans are “neglecting car repairs and maintenance” because of the sagging economy. Specifically, one in four drivers could not pay for a $2,000 repair. One in eight would be unable to cope with a $1,000 repair bill.
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