Motorists Could Face Repair Costs of GBP300 Million as They Come Out of Manufacturer Warranty
Posted by: Live Update / Category: Car NewsMotorists Could Face Repair Costs of GBP300 Million as They Come Out of Manufacturer Warranty
PR Newswire — September 1, 2010
BURNLEY, England, September 1, 2010 /PRNewswire/ — According to new data by Warrantywise, the UK’s leading warranty provider, over 1 million* cars due to come out manufacturer warranty in September 2010 could cost their owners over GBP300 million in repair bills in the fourth year of ownership. (*Source: Warrantywise estimate, August 2010).
Each motorist could face an annual repair bill of over GBP700* in the fourth year of ownership alone, with top faults like Sensors, Steering and Suspension, and Alternators most likely to fail.
Table 1: Top 3 faults – average costs in year 4
Vehicle Fault Fault Fault Ave Repair Cost
BMW 3 Series Turbocharger ABS Electrical GBP556 GBP1,130 GBP690 Faults GBP332
VW Golf Sensor Gearbox Steering GBP432 System GBP199 GBP1,167 GBP362
Audi A4 Gearbox Fuel system Ignition GBP630 Coil GBP1,709 GBP505 GBP98
Vauxhall Astra Alternator EGR Valve Suspension GBP411 GBP287 GBP448 181
Ford Focus Alternator Air Con Fuel System GBP305 GBP178 GBP385 GBP528
BMW 5 Series Suspension Turbocharger Fuel System GBP506 GBP549 GBP1299 GBP507
Vauxhall Corsa Steering Engine EGR Valve GBP320 System GBP742 GBP641 GBP357
Audi A3 Cylinder Radiator Turbocharger GBP521 Head Gasket GBP249 GBP1,275 GBP1,134
Ford Fiesta Clutch Fuel System Suspension GBP370 GBP183 GBP433 GBP136
Mercedes-Benz C Suspension Air Flow Meter Alternator GBP442 Class GBP276 GBP312 GBP486
Lawrence Whittaker, Managing Director of Warrantywise, comments: “The common arguments for not getting a warranty often start with the notion that modern cars are ‘reliable’. However, a car is a mechanical object and as with all mechanical objects, the chances of a part failing are extremely high. Manufacturers that were considered to be reliable 10 years ago may be holding onto that reputation, but the figures for warranty claims show that certain manufacturers have sacrificed quality for volume, as we have seen with Toyota recently.
“The second argument is that warranties aren’t worth the paper they are written on’. However, not all warranties are equal and with Warrantywise, motorists can save hundreds of pounds on repair bills.
“By getting a warranty, you can effectively be ‘in profit’ if you compare the costs of a warranty to the likelihood of major failure. Our Warrantywise Policy has been designed for people to claim on, which is a very different product than other warranty policies. Over 59% of our customers make a claim on their warranty in the first 12 months according to our figures.”
Subject Codes: PC/t.100901030120947, PR/dest.Public, PT/lang.en, IN/AUT, IN/INS, IN/TRN, SU/SVY, RE/United_Kingdom
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Tags: automotive
