How to shop for a $20,000, $20 million auto repair and repair business in Miami, Florida
Auto repair and service companies are booming in Miami-Dade County, with the median price for a new, new-vehicle auto repair in the county up by more than 20 percent over the last year, according to data from local financial-aid regulators.
Miami-based Auto Solutions is among the highest-paying auto-repair companies in the country, earning an average of $2,800 per vehicle for repairs, according for the company’s 2016 annual report.
The company is also a member of the AutoNation program, which provides loans to low-income and middle-income families for car repairs.
Miami’s median auto-recovery cost for a 2016 model year is $8,400.
The median repair bill is $3,000 and the average repair time for a vehicle is about 12 hours, according.
For most repairs, you pay the full cost, with an estimated average cost of $25 to $40, depending on the model and type of vehicle, said John Pappas, vice president of financial services at the Florida Association of Realtors.
The state also offers financial aid to low and moderate income renters and the elderly.
The Florida Association for the Retired offers a state subsidy of $1,000 for new auto repairs, up from $500.
“We are going to have a really robust recovery in our industry,” said David DeFilippis, vice chairman of the Miami-area chapter of the U.S. Auto Association, which represents about 7,000 auto companies.
The AutoNation Program, which is administered by the Florida Department of Economic Opportunity, helps low- and moderate-income renters with their repairs.
The program provides financial assistance of up to $3 for repairs to renters who do not qualify for a mortgage or who qualify through other means.
The amount of the loan varies depending on whether a renter is a homeowner or an investor, DeFippis said.
“The state has always supported the housing industry, but the Auto Nation program is a really big help,” DeFippi said.