The survey revealed how much money Lithuanians spend on car maintenance

There are more people who drive than invest in a car. Research conducted shows that one in ten residents of the country plan to buy a car this year. A fifth of those interviewed are preparing to purchase spare parts for the vehicle: components, tyres, accessories, other goods. A quarter of those interviewed plan to spend between 100 and 300 euros on purchases, 18%. The Lithuanians promise to spend 300 to 500 euros. Just over a tenth intend to give up 500-1,000 euros, 9%. motorists intend to pay from 3 to 5 thousand euros for a car or its parts.

For 38% of respondents who wish to purchase a vehicle or its components, the most important thing is that the purchase is new or lightly used. The brand is relevant for almost a quarter, and the same percentage of respondents consider the price to buy a car or its parts cheaper. For more than a tenth, the country of production is important.

The survey revealed how much money Lithuanians spend on car maintenance

According to “Regitras” we have almost one and a half million drivers in the country. The survey also shows that 70% of respondents will not purchase a vehicle or parts this year. A tenth of those interviewed will invest up to 100 euros in a car, while the percentage of those who will allocate a larger sum to purchase or maintain it is very small.

“This allows us to assume that purchasing a vehicle or related purchases represents a significant financial challenge for Lithuanians, especially in today’s situation, when the financial situation can change negatively at any time,” says Skirmantas Ketvirtis, Head of Customer Success Experience at General Financing.

Design practical and sober

When it comes to buying a car, one financial expert suggests considering this very option. According to S. Ketvirtis, when purchasing a car lease, you have the freedom to choose the vehicle you want, because its age is not limited and payments can be postponed for up to 3 months.

“The amount of car leasing can also be used for the repair of the car and the quick and simple elimination of breakdowns if they occur. For this loan Casco insurance is not necessary, it is not necessary to pledge the vehicle: you immediately become its owner. Therefore, if purchasing a car seems like too much of a test for your personal budget, car leasing can become an adequate solution and facilitate the purchase of the desired purchase”, underlines the representative of General Financing. According to S. Ketvirtis this service is useful when planning the purchase of both a new and used vehicle. Paulius Valiukėnas, director of Longo LT, which sells the latter, agrees: more and more motorists are looking for a rental car.

“The average price of the vehicles we sell is 4-5 thousand euros. More than 100 cars are purchased every month, most of them are 10 years old. The majority of the market is diesel engines, because Lithuanians drive a lot and often, while the characteristics of petrol engines are inferior to the latter,” says P. Valiukėnas regarding road trends.

For those who believe that only an expensive car creates social status, and a cheaper one does not give prestige, S. Ketvirtis supports the example of the world’s rich. Jack Ma, the Chinese billionaire and founder of the Alibaba online store, whose fortune was recently estimated at over 34 billion euros, drives the Roewe RX5 SUV, which costs 13 thousand. euro. The creator and founder of Facebook Mark Zuckerberg, who is worth more than 58 billion euros, drives a 27 thousand Acura TSX. euro.

S. Ketvirtis emphasizes that car loans are given up to 25 thousand. for the amount of euros. Even new vehicles driven by billionaires can be purchased this way.

“The cited examples are just some of the examples that demonstrate that it is not necessary to spend large sums on a car. It is important to follow the principles of practicality and intelligence. For such purchases it is useful to save on classics: it is convenient to postpone and save a certain amount of funds for individual goods. Another simple advice is to sell the car you own and invest the money received in the down payment of a new one,” recommends S. Ketvirtis.