Consumers over the past few years have seen an explosion of hi tech features in the new automobiles. Satellite positioning systems, automatic parking and breaking systems, entertainment systems, etc. All of this technology adds cost to new autos and even the lowest cost autos available offer many of these "miracle" features. What the public fails to realize; it may work great; how could I have lived so long without it and it only adds a little more to the cost. In fact most people can afford the "latest and greatest", but a few years down the road when a hi-tech feature breaks down, how much will it cost to fix it? Those people who could just barely afford a new car, will be shocked to find out, they can't afford to have it fixed.
Another thing is insurance. The cost to repair cars damaged in accidents will sky rocket. There will be a lack of mechanics to fix these hi-tech toys. Insurance costs will go up to cover the higher costs of repairs. Not only the owners of these newer cars, but the owners of more conventional cars will be affected. I pay now a minimum for insurance because I drive an older car. I can see my insurance going up as it does for everyone across the board.
High technology is being forced upon us and we are buying into it. We don't see the future consequences. Remember when you could buy a no-frills refrigerator for under $500, just a few years ago. Now you can pay $2000 or more for the latest and greatest without giving thought as to repair cost. You know the more high tech, the more it will cost to repair. So where do we go from here?
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