According to AAA, the average cost of repair is between $500 and $600. Many factors go into this, but a big reason is the fact that newer and more expensive cars simply mean more costly repairs. Labor costs have increased over the years and when that’s coupled with the fact that repair shops need more advanced technology to work on modern cars, it’s a recipe for a costly repair build.
Another thing to note is because of rising car prices, the average age of a car on the road has increased. As of 2021, that number was high as it’s ever been with an average age of 12 years. That means there’s a better chance of things failing in the car, which would in time lead to more repair costs. It’s a vicious cycle that has only become more difficult to navigate through. Consumers holding onto their cars for longer has also caused the used car market to become pricier, although it is beginning to stabilize.
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