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Navigating Inflationary Pressures on Vehicle Ownership: A Guide for Auto Dealers

AutoSuccessOnline

The key inflationary impacts to vehicle ownership include purchase prices, interest rates, maintenance, repairs, insurance and fuel costs. Repairs : Car repair prices are outpacing overall inflation. Repair costs have surged due to rising prices for parts and labor. The average household in the U.S.

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Select Car Leasing partners with MotorEasy

Motor Trader

From November, every customer who leases a vehicle with Select will automatically receive 30 days free GAP Insurance. Alloy Insurance begins at £6.50 per month and covers the cost of repairs to damaged rims.

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Understanding Dealership Jargon: Terms the Public May Not Know

Shawn Ryder

F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles. The F&I manager will also offer additional products such as extended warranties and GAP insurance. It’s often used as a starting point for negotiations.

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Does it make sense to lease?

Shawn Ryder

Maintenance and Warranty Benefits Most leased vehicles are new and under warranty: Covered Repairs: Maintenance and repair costs are often covered, allowing for worry-free driving during the lease term. Older Vehicle Considerations: Owners may face increasing repair costs as vehicles age, impacting overall affordability.

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The Affordability Challenge: How Dealers Can Help Customers Keep Long-Term Interests in Mind

AutoSuccessOnline

As vehicles age, the cost of maintenance and repairs tends to increase. According to recent studies, the average annual cost of vehicle maintenance and repairs has risen to over $1,000 per year for vehicles older than five years.

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