62% of Millenials’ Savings Won’t Cover this Inevitable Expense

Misc - Millennials Stacking Coins / Saving Money

Many Americans (especially younger generations) are plagued by stress over money. Two recent reports are linked below, with astonishing facts:

  • American Psychological Association has just released a study that 72% of Americans have felt stressed about money within the last 30 days.
  • A recent Bankrate report shows that 62% of millenials don’t have sufficient savings to cover an unexpected $500 car repair.

Few young people don’t plan for car repairs, yet they’re a fact of life for most of us. Why?

  • The average age of a car on the road is 11-years old.
  • 80% of vehicles on the road are out of warranty, and in the repair/maintenance phase.

What’s the #1 way to save on the inevitable expense of car repair? By being an informed consumer, and comparing offers before making a decision on car repairs. But chances are you don’t have time to search around for the best deal, and would rather just book it.

That’s where Openbay comes in. Openbay is the only product of its kind that allows local comparison shopping and booking for car repair and maintenance nationwide. Per request, users receive an average of four mechanics’ proposals, so there’s an opportunity to save up to 50% on car repairs.



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How does it work? Vehicle owners choose a shop (based on distance, ratings and price), then schedule vehicle service and pay on Openbay. Even if you’ve got a favorite mechanic, booking with Openbay earns you rewards, and ensures your car or truck’s service records are maintained online, which could help you sell your used car down the line.

Best of all, as the vehicle owner, Openbay doesn’t cost you a thing. Shops are eager for your business, so the one that “wins” the job pays a small fee.

Ready to save time, money and hassle? Give Openbay’s web site a try, or download its iOS mobile app today.  Happy saving!