West Bend/Cedarburg, WI – The Wisconsin Manufacturers & Commerce came out with a report about challenges the public faces during a difficult economy. If you’re dealing with vehicle troubles during tough times Mike Hilzley with Auto Safety Center encourages customers to do the math.
“In a tough economy do you fix your car or dump your car,” said Hilzley. “I’m a big numbers guy and the fact of the matter is the numbers don’t lie.”
Hilzley said if you do the math, even though car repair bills may be pricey, you will be ahead of the game overall if you maintain the vehicle you currently have.
“Most of our customers can fix the car they have for much cheaper than buying new,” he said.
As of June of 2024, according to bankrate.com if you buy a new car, it’s $735 for 12 months; that’s $8,800 per year just to own it. If you want a used car that’s $523 a month; at 12 months that means you’re spending $6,279.
“A used car will likely need tires, brakes, and all sorts of different work,” said Hilzley. “To top it off, the average length of a loan is 66 months, that’s 5 and a half years.”
Keep in mind, Hilzley said, Auto Safety Center offers 6 months of 0% interest financing. “So if your budget is tight, we’ve got financing options for you too.”
According to the Wisconsin Employer Survey, the forward-looking data raises concerns as three-fifths of employers say they expect the Wisconsin economy to remain flat or decline over the next six months. A full two-thirds expect the U.S. economy to do the same.
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Much of the pessimism is being driven by higher costs. When asked what the top economic challenge facing their company is, the top answer by far was inflation. Thirty-five percent of businesses ranked it as the top issue followed by the workforce shortage at 25 percent and health care costs at 16 percent.
Hilzley said, when it comes to vehicle repair make sure you explore all your options and run the math.
If you have any questions, check out Auto Safety Center. It has three locations with two in West Bend and one in Cedarburg.
