More expensive fuel and maintenance are forcing 23 percent of drivers to take out loans, a new Norwegian study shows.
A new survey from the Royal Norwegian Automobile Club (KNA) paints a worrying picture. Almost 23 percent of Norwegian car owners have taken out loans to cover car expenses. This is a significant increase.
More than half of the affected car owners have done so several times. They have used credit cards or taken out loans within the past year to manage their car ownership.
This is reported by Norwegian TV2 .
Tor Valdvik from KNA is concerned about the development. He believes it reflects a serious situation for many drivers.
Many are simply struggling to pay their bills. The high cost of cars comes on top of other price increases in society.
Food, electricity and other essential goods have also become more expensive, putting pressure on the budgets of many families and individuals.
Specifically for car expenses, gasoline and diesel prices have increased significantly. They are over 40 percent higher than in 2019. Even though they have recently fallen massively. Read more about it here .
Delayed service and expensive repairs
Costs for tires, service and general maintenance have also increased. These are expenses for basic things like oil changes, new tires and necessary repairs.
This is hitting many car owners' budgets hard. The study also shows another worrying trend related to finances.
Almost every fourth driver postpones their car's service due to financial difficulties.
Among the group with the most strained finances, the number is even higher. Here, six out of ten say they postpone necessary services because their finances are not sufficient.
Skipping maintenance can have major consequences. The Norwegian Automobile Association (NAF), which corresponds to the FDM in Norway, has previously warned against just that.
Jan Harry Svendsen from NAF explains the problem.
– The difficult times mean that many people need to save money, but postponing car maintenance is not a good idea, he says.
Criticism of taxes and tolls
Svendsen elaborates on the danger of waiting too long. "What could have been a small error can quickly become expensive to repair if you let the error develop," he continues.
For example, it could be a small leak or a minor problem with the brakes. Without timely repair, it can lead to larger and more expensive damage.
He also warns of the safety consequences. The car can become a direct traffic hazard for the owner and other road users.
This is especially true when driving with worn tires, poor brakes or defective lights.
Tor Valdvik from KNA points to possible political solutions. He suggests lowering fuel taxes, as has been done in Sweden.
According to Valdvik, this will help many drivers, especially those who still drive cars powered by gasoline or diesel.
Valdvik mentions that many people with low incomes cannot afford electric cars, which is why they are particularly hard hit by high fuel prices.
KNA is also critical of the high tolls in Norway. The club has been working for several years to have the level reduced.
Tolls are a major financial problem for many commuters. Especially for those who live close to toll booths and have to cross them several times a day. It creates a major financial burden on the everyday lives of many.
Rising car costs are a topic we often cover here at Boosted.dk. You can read more about saving tips for car owners and find guides to do-it-yourself maintenance that can potentially save you garage bills.
