Information gap… better understanding of car servicing and repairs, plus legal aspects, can help to save a lot of cash…
Recent data has revealed that 53% of people aged 22 to 29 have no savings at all. That’s a significant 12% increase from 41% 10 years ago.
While household bills and other living costs take priority, your car can quickly become a ticking timebomb of expenses if the correct pre-emptive maintenance isn’t carried out – which in turn adds financial pressure in the long run.
As a generation facing an uncertain economic future, avoiding being slapped with fines and unexpected repair costs should be of increasing importance for young motorists.
Select Car Leasing conducted a survey of 1,200 British drivers and revealed that 18 to 24 year old motorists are lacking key maintenance and legal motoring knowledge, risking an eye-watering £7,200 in fines and repair costs – that many can’t afford.
Key findings include:
- Almost 50% of young motorists are unaware of how to check tyre tread depth – risking a potential fine of £2,500 per tyre and a £200 repair cost. In comparison, just one in ten drivers aged 65 or over stated they didn’t know how to carry out this task.
- Almost 50% of young motorists are unaware of how to check tyre tread depth – risking a potential fine of £2,500 per tyre and a £200 repair cost. In comparison, just one in ten drivers aged 65 or over stated they didn’t know how to carry out this task.
- Almost one third of 18 to 24 year old motorists don’t know how to check tyre pressures – which could result in overheating and a nasty accident.
- 27% aren’t aware of how to check engine oil levels, which if left can cause extensive damage to the engine and lead to a repair cost of £1,000.
- Young UK adults are relying on older, possibly unreliable cars to get by – with only 3% likely to be driving a potentially safer new model.
- Polite or Naïve? 7 in 10 young motorists could be accidentally admitting guilt by apologising after a collision.
- 27% of 18 to 24 year olds are unaware of how to check their brake pads. Failing to do so can allow the brakes to wear out, with a repair cost in the region of £300. Continuing to neglect them can result in overheating and brake failure, thus endangering the safety of the driver and other motorists.
- Almost 4 in 10 young adults either don’t have breakdown cover or are unaware if they do. Without the correct cover in place, many young motorists are risking having to pay a £250 towaway charge if their car gives up on them.
- Young motorists are phoning the wrong people in the first instance in the case of an accident – an overwhelming proportion of younger drivers are likely to call a family member, rather than call 999 or 101 to properly report the incident.
- Only one half of 18 to 24 year olds know how to carry out simple windscreen wiper maintenance, which, if left unchecked, could lead to a scratched windscreen and a repair bill of up to £100.
- On average, less than 1 in 10 young adults maintain their car according to the correct schedule advised by Michelin, car manufacturers and other authorities, the lowest scores of all age ranges by a substantial margin.
The survey results raise strong questions about how younger drivers can be better informed in terms of simple car maintenance checks. With over half staring at an empty piggy bank, they are in dire need of education around simple car maintenance tasks to provide the self-sufficiency that will help them to avoid racking up huge car repair bills.
More information here: https://www.selectcarleasing.co.uk/news/generation-no-savings.html
Kim adds, “Hopefully the features we include on Wheels-Alive” can help with information on keeping cars, including older models, safe, legal and reliable.