The last few times my wife and I bought a vehicle we opted for the extra cost, extended warranty. Over the years that proved to be a good move, saving hundreds of dollars on repairs.
Not with my wife’s current car. Within weeks of buying our 2015 Malibu, new, my wife shifted to working from home. Her car spent days untouched in the garage, indeed many of the miles came from my trips to Clayton or Jefferson City or Houston. Still, for the first time with us, our car “aged off” the extended warranty long before hitting the mileage limit
Do you want to guess what happened soon after the warranty expired?
The repair required the dealership to fix what they admitted was a ‘known problem’ with a part attached to the engine. “Save your receipt,” they advised, “there could be a recall coming and you can get reimbursed if you have your receipt.” The cost: $1,778.91.
Last week the amber Check Engine light came on, and, well, the repair guys at the local shop explained that pieces from that broken part had put crud in the fuel system, taking out the oxygen sensor and causing other mischief. “I don’t know why they didn’t clean that out when they did the other work?” The cost: just under $600.
Around the time the car rolled into the shop, the federal government issued the 2021 Poverty Level Guidelines.
Basically, our two repairs cost hundreds of dollars more than a person working full time for $10.56 an hour would earn in a month. In other words, more than the poverty level income for a family of three ($1,830 a month).
Now, a six year old Malibu with 65,000 miles would be a very reasonable vehicle choice for a working mom with two kids. Yet, unexpected repairs could cripple the household’s budget for many, many months.
Right now many families live with crippled budgets.
“How the Pandemic Hurt Workers More Than Investors” was a New York Times headline on 1/28/21.
Last year featured a devastating public health crisis, an imploding job market, a heavy dose of political tumult and – surprisingly – a roaring stock market.
Add it all up and a major consequence was an expansion of inequality in a nation where economic disparity was already in the rise.
To put it even more simply, the rich keep getting richer and working stiffs keep getting stiffed. And, the have increasingly don’t understand life for the ‘have littles.’
A pair of recent conversations made this personal.
A senior financial guy for a local manufacturer bragged last week about his son getting a job paying $10.30 an hour. I explained that’s now Missouri’s minimum wage.
A working mom with two school age daughters, expressed hope that St. Louis County would loosen restrictions on restaurants. With 25% occupancy and limited hours Christmas wasn’t as cheery at her house and she’s not sure how long she can (even with some gig work) keep her head above water. She’s a manager and bartender at a restaurant with better than a 30 year history.
In other words, she’s collateral damage in today’s economy, struggling at a level many who do well can’t comprehend.
The Biden administration and the Party Of Never both claim to want to do more for working people. At the same time, federal and state governments have done more for those with stock holdings than weekly paychecks.
Now is the time to support the majority of Americans, the people who work for a living. They have cars to repair and electric bills to pay. Work for them for a change.
Oh yes, anyone want to buy a 2105 Malibu? Owned by a retired couple in Oakville.
Glenn