More than 50 years ago, it was not unusual to see junk cars left on the side of the road or winding up in a landfill. Since then, we have come a long way when it comes to handling junk cars.
JunkCars
What to Do after the Lease Expires
Many people find leasing as a better alternative to financing a new car. Because lessees pay for only the depreciation of the vehicle and not the full value, their monthly payments may be lower. With leases lasting 24 to 36 months, they are not stuck in a long-term payment plan. In addition, the warranty covers the vehicle for the length of the lease.
How Much Money are You Wasting by Keeping Your Junk Car?
Experts from the automotive research firm IHS Markits say the average lifespan of a car or truck is eleven years old. Cars dating back to 2009 and older are considered to be outdated. Driving an older vehicle with over 100,000 miles can lead to various mechanical issues, such as engine failure. Fixing these issues can become quite costly and hurt your finances in the long run.
Auto Airbag Market to Exceed $71 Billion in 5 Years
A report from ReportLinker showed that the global automotive airbag market is expected to grow to $71.8 billion by the year 2025. The firm said the growing market can be attributed to a number of factors, including technological advances in developing airbags, legislation mandating the installation of airbags in newer vehicles and “smart” airbags that come with sensors.
Gaining Weight: Today’s Pickup Trucks are Heavier
The Wall Street Journal reported that today’s pickup trucks are bigger than they were almost 20 years ago. The article cited data from the U.S. Department of Energy’s Oak Ridge National Laboratory which showed that the average pickup is now 1,142 pounds heavier than it was in 1990.
Does Your Vehicle Have a Defective Airbag?
Despite its promise to have all of its airbags fixed, Takata has yet to complete this task. In fact, 24% of those recalled airbags have yet to be repaired. That means nearly 12 million vehicles are on the road with defective airbags.
Missing Bolts Cause GM to Recall Over 217,000 Vehicles
ABC News reported that General Motors (GM) is recalling over 217,000 vehicles after it was found that some of the cars were missing bolts from their start-stop mechanisms. This may result in transmission oil leaking from the mechanism and causing the car to either stop moving or catch on fire.
Does It Cost More to Insure an EV?
An article from Forbes explained that owners of electric vehicles (EVs) may have to pay more for insurance than owners of gas-powered cars. Some of the experts interviewed for the article said that the higher insurance rates can be attributed to the fact that repair costs for an EV are greater than those for conventional autos.
