Resources for borrowers: Tips for maintaining high-mileage vehicles

by Jennifer Webb, SWBC LenderHUB

According to a recent report in Automotive News, “China’s efforts to curb its largest COVID-19 outbreak in two years has forced companies like automakers Toyota Motor Corp. and Volkswagen Group to suspend some operations, raising concerns over supply chain disruptions.”

Since the U.S. auto industry is still struggling to keep up with challenges and bottlenecks emanating from supply chain issues, this is foreboding news for consumers already facing high demand and low vehicle supply.

With new and used car prices increasing at historic levels, many people are making the decision to keep their current vehicles for some time to come.

Here are four tips for maintaining high-mileage vehicles you can share with your borrowers to help ensure their current vehicles are in top shape until the auto market becomes more favorable for consumers.

 

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