Unexpected repair bills leave a third ‘anxious and stressed’
A third of motorists admit unexpected repair bills make them feel ‘anxious and financially stressed’.
This is according to research from RAC Dealer Network.
It found that 33% would be anxious about a repair bill of more than £1,000, which is down from 46% in 2023 and 37% in 2021.
However, 43% said they would be ‘anxious but not financially stressed’ compared to 38% in 2023 and 45% in 2021.
Lee Coomber, RAC client director at Assurant, which partners with the RAC in the aftersales sector, said: “This data provides quite a subtle understanding of how motorists’ attitudes to being hit with a big, unplanned motoring bill has changed over the last few years. The picture it provides covers the immediate post-pandemic period, through peaks in food and power inflation, to today.
“It shows concern about finances would have understandably been highest when unusually high demands were being made on household expenses around 2023. However, perhaps more surprising is that although people today feel their finances are under less pressure, they would still feel anxious.
“To some extent, this is reflective of wider trends in consumer confidence where people report they are now more financially secure but are reducing spending because they are worried about the possibility of the economy failing in the near future. Really, we’re looking at a loss of certainty.”
