Almost four million of the nation’s drivers have opted to keep their car for longer after spending money on repairs and maintenance, new research shows.
The study for Kwik Fit, shows that the third of drivers who have changed their mind about selling their car did so after spending an average of £928 on repairs.
Having paid for repairs, they then kept their car for an average of one year and two months beyond the point at which they had originally decided to replace it.
While the average amount spent on repairs was £928, one in ten drivers spent less than £250 and then kept their car for another year on average.
Car owners in London and the South East are the most likely to have given their car a second chance, with 41 per cent and 39 per cent of drivers in these regions saying they have kept a vehicle after paying for repairs.
This may be due to these drivers having paid the most in repairs, with average bills of £1,233 and £1,033 respectively leading to a change of heart and a reprieve for their car.
Drivers in Wales and the East of England are the least likely to have changed their mind, with only 23 per cent of Welsh drivers and under a quarter (24 per cent) of motorists in the East holding on to their vehicle after splashing out on repairs.
When asked why they had changed their minds, the most common reason given was that the repairs had made their car safe and reliable, stated by 29 per cent of drivers.
The next most frequently stated reason was that car owners wanted to get value for money from their investment in repairs (27 per cent of drivers) followed by the fact that having work done on their current car would be cheaper than trading it in for a new one (25 per cent).
While most drivers made their decisions on financial reasons, one in six (16 per cent) admitted that they just didn’t want the hassle of having to swap their car, while 15 per cent said they could not find a replacement they liked as much as their existing one.
Roger Griggs, communications director at Kwik Fit, said: “This research shows that although there is undoubted appeal in getting a new car, when it comes to the crunch, many of us realise it makes financial sense to stick with the one we have got for a bit longer.
“We’ve seen that some drivers have spent less than £250 on repairs and kept their car for another year, which at £20 a month is great value for money.
“In an environment where everyone is looking to make all types of products last longer, it’s no surprise that many drivers are investing in maintenance and repairs of their existing vehicles.”
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