The average age of vehicles on UK roads is climbing – now almost 10 years, up 2.5 years since 2015, according to the RAC Foundation. This isn’t just about cars lasting longer; it reflects a shift in consumer behaviour and economic pressures.
Several factors contribute to this trend. The cost of replacing an older vehicle with a new one is rising, making it less attractive to many households. The broader cost of living crisis forces families to prioritize spending elsewhere, and a perception that modern cars are inherently more reliable also plays a role.
However, even well-maintained modern vehicles are prone to breakdowns. Traditional failure points like timing chains, differentials, and gearboxes remain common. Newer cars introduce new vulnerabilities, including diesel particulate filters, complex mechatronic systems, and even high-voltage components in hybrid and electric vehicles.
The price of repairs is also increasing sharply. Parts costs have risen by around 35% since 2020 due to supply chain issues and raw material inflation. Labour rates at garages are also climbing – with average hourly costs already at £76 two years ago, and likely higher today due to wage inflation and rising overheads.
Faced with these escalating expenses, more car owners are turning to aftermarket warranties. One leading provider reports a consistent 14% annual increase in warranty sales over the past four years. Regular servicing can help identify issues early, but unexpected failures remain a significant financial risk for many drivers.
The trend suggests that consumers are proactively seeking financial protection against the rising costs of car ownership, rather than relying solely on vehicle longevity or manufacturer warranties.
