 have had to spend money on repairing their car and the majority of them said it has caused them stress. According to the survey, 31% of the drivers have paid £400 or more in their last repair bill and 10% have had to spend £1,000. Mark Carpenter, CEO at nearly new vehicle retailer Motorpoint, said: " "In the current climate, many motorists will look to weigh up the pros of hanging on to an older car, which they may own outright, with financing a newer one that may meet their needs for additional space, lower emissions, improved economy, and safety equipment. 'For those with a vehicle that has become unpredictable, or changing needs such as a growing family, it is important to understand the options available such as a fixed monthly payment and a vehicle with warranty protection to manage repair bills, and to be sure this is affordable.'){kind=link}
DRIVERS with older cars are holding on to them for longer due to the cost-of-living crisis.
Britons are reluctant to buy a new car because they are worried about the current financial situation.
Research by Motorpoint has shown that 57% of car owners with vehicles more than 10 years old are going to keep their cars for longer.
But, having an old car can also be pricey – 10% of the car drivers surveyed revealed that some repair bills have run into £1,000s.
Some 21% believe that their car is currently worth less than the money they have spent on repairs.