ORLANDO, Fla. — Roughly one out of three U.S. car owners can't afford to pay for an unexpected vehicle repair without going into debt, according to a new survey from AAA Inc.
AAA estimates the average cost of owning and operating a vehicle is more than $8,500 a year, and the bill for an unscheduled repair at between $500 and $600.
"AAA has found that millions of Americans are failing to set aside a car care fund to pay for the upkeep of their cars," said John Nielsen, AAA's managing director of automotive engineering and repair.
"To avoid a surprise down the road, drivers should budget for monthly payments, insurance premiums, fuel costs and the inevitable expenses of routine maintenance and repair."