News Published on : 05-Jan-2022 12:20:20

Warrantywise a leading UK provider of aftermarket vehicle warranties warns that many UK motorists are not covered by a valid warranty and could be facing big bills in 2022 amidst the increase in demand for second-hand vehicles. As new car production delays continue and consumer decision making over internal combustion versus hybrid or pure electric wavers the rise in used car demand continues to grow. As such UK car owners could be facing large repair bills in 2022 and beyond as research suggests Britons are keeping cars for longer - a recent study showed that a fifth of all cars on the road in Britain are over 13 years old. However 85 per cent of used car owners are estimated to be driving without an extended warranty* once their OEM cover runs out (average cover is five years). Data published by the SMMT in November 2021 shows that the used car market is up 16.4 per cent on 2020 levels. Warrantywise believes there are multiple factors that influence why people are keeping cars for longer. The company s data shows a larger number of motorists are taking lease extensions due to lack of new car availability while they wait for up to 12 months for a replacement. Added to this is the impending ban of combustion engines by 2030 in the UK which has led to consumer uncertainty about the next type of vehicle to purchase. Warrantywise urges motorists to check they are protected against potential large bills in the future and if they are out of warranty to consider an aftermarket warranty option for their cars.