60% of Americans Can't Afford a Car Repair
“60% of Americans don't have $1,000 in a bank for an emergency fund. And so those folks, if their car breaks down, they're generally not getting the work and they're not getting paid.”
Transcript
So 60% of Americans don't have $1,000 in a bank for an emergency fund. And so those folks, if their car breaks down, they're generally not getting the work and they're not getting paid. So that is a big issue. And so those folks, it makes a lot of sense for them to
say, I rather pay 70 bucks a month and have peace of mind knowing that if my car breaks down, I'm not going to be in a financial whirlwind because of that. And so that customer profile, we do really well with those folks that can't afford a major breakdown.
The other persona I will highlight is it's actually the opposite end of the spectrum.