One in Four Drivers Neglecting Routine Auto Maintenance
AAA survey reveals motorists skipping necessary services due to the economic climate
BUFFALO, N.Y. - A new survey out today has AAA Car Care Plus warning motorists about the dangers of skipping vital automotive maintenance services. One quarter of drivers surveyed admitted to neglecting maintenance and repair on their vehicles in the past 12 months due to the economic climate. The survey also found that more than half said they are holding onto an older vehicle because they do not want the financial burden of a new one.
Foregoing regular maintenance, especially on an older vehicle, can greatly increase the likelihood of a costly repair, said Mike Zyglis, Director of AAA Car Care Plus. In todays climate, its important to keep your car properly maintained to ensure optimal performance and drivability.
Additional results of the survey revealed that one in four American drivers could not pay for a car repair of $2,000 if faced with one today; one in eight would be unable to pay for a repair bill of $1,000.
Its important for drivers to not only continue to maintain their vehicles, but also have a financial emergency plan in place should they be faced with a sudden unexpected auto repair bill, said Zyglis.
According to the survey, 38 percent of motorists could pay for a $2,000 repair bill with funds in a savings account, while 20 percent would pay with their credit card; 11 percent said they would have to borrow money from their friends, family, retirement or home equity. Slightly more reported being able to pay for a $1,000 repair bill with 46 percent using savings and 22 percent using a credit card; 14 percent would look to borrow.
As a member service, AAA Car Care Plus has designed a money-saving annual maintenance plan to help defray the cost of regular, preventative maintenance. For $99 per year, the AAA Car Care Plus Annual Maintenance Plan includes three standard oil changes, one New York State inspection, one standard engine air filter, nitrogen tire inflation service, tire rotation, unlimited battery and charging system checks, and unlimited wheels off brake and lining checks. Average pricing for all services separately is $186.72, a significant savings of nearly $90.00 per year.
Members who take advantage of the Annual Maintenance Plan also save 20 percent off all fuel savings services throughout the year, 20 percent off two or four wheel alignment, and 10 percent off any vehicle repair. Additionally, members will receive a free computerized scan of their brakes, alignment and suspension with each visit from the acclaimed Hunter B-400 AAA Safety Scanner. To schedule an appointment visit www.AAA.com/carcareplus .
Dangers Of Credit Cards - News
According to the survey, 38 percent of motorists could pay for a $2000 repair bill with funds in a savings account, while 20 percent would pay with their credit card; 11 percent said they would have to borrow money from their friends, family,
A few mistakes can cause real long-term damage to credit scores. Keep in mind that if you have co-signed on a credit card for your son or daughter, or have them on your account, their mistakes become your mistakes. Begin with the basics of a checking
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The Dangers of Secured Credit Cards | The Credit Courier
There are many types of credit cards available to the consumer today. There is essentially a card for everyone. It is just a matter of selecting the card that best meets your needs.
The two most common categories of credit cards are secured and unsecured. The unsecured is always the best option if you can get it. Rarely will you find a secured card that has better terms and conditions than an unsecured credit card. If at all possible steer clear of secured credit cards. Here are some of the dangers of secured credit cards.
Cards that are secured by your purchases can be troublesome. Some retail store cards, like Sears, secure your credit card by using the item you purchased as collateral. This means if you fall behind on your payment they have the right to repossess the dishwasher or lawn mower you just bought. And it should be noted that filing bankruptcy on a secured card with collateral can cause issues with your bankruptcy rights.
Some secured credit cards allow you to secure your credit line with your home. This is very bad idea in most cases. The potential loss to you if you fall behind on your payments is tragic. Your family could lose your home. Securing a credit card to your home is not a good idea. You are better off getting a home equity line of credit with a low interest rate if you need to utilize your home to help with your credit.
Some companies will send you a check in the mail stating that by depositing you are entitled to the amount of the check but you agree to their terms and conditions. If you have received one and read the fine print you know that these come with exorbitantly high interest rates and possibility additional fees. It is a much more financially sound decision to seek out a credit card with that has a reasonable interest rate and be careful not to charge more than you can afford to pay back.
Some credit cards use your bank account for security. This means that you are securing the credit card with a deposit you make into a bank. The credit limit on the card is usually limited to the amount of the check used to secure it. Of all the secured cards, if you have to use a secured card, this is probably the best type. These cards can be helpful for people who need to rebuild their credit history after they have experienced financial troubles. Like with any card, however, various companies offer them and if you do some shopping you can likely find one with a decent interest rate and no annual fees.
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