leftlanenews.com — The United States economy may be showing signs of improvement, but American drivers are holding on to their rides for longer than ever. That trend should come as little surprise as the average vehicle age in the United States recently neared 11-years.
Feb 21, 2012 View in Crawl 4
TheQueenofOKFeb 21, 2012
It just doesn't make sense to me to trade out a perfectly serviceable car for something else just because it is "new".
ben7337Feb 21, 2012
Very true, the only thing that would motivate me is if the cost to repair a necessary feature e.g. A/C was worth more than the car, or maybe for feature upgrades that can only come with a new car, bluetooth integrated with the car, radio controls on the steering wheel, keyless ignition, etc. Now those sort of features make the avg car in the USA seem sadly outdated.
craig1958Feb 21, 2012
I have a cheap (about $400) radio head unit in my 1982 car that includes bluetooth and works very nicely with my iPhone (music, pandora, gps, phone, etc.). I can live without the steering wheel controls.
adml_shakeFeb 22, 2012
I'd still be driving my 95 accord that I got in 2000, if the timing chain hadn't busted and eaten the engine. Repair bill was well into the thousands so I upgraded to a newer used car. Don't really want to buy new. The only real benefit I can see is that at least I know that if I had it since it rolled off the line all the maintenance had been done on it. My Accords replacement...I'm pretty sure they never took it in for a single service.
hillsfarFeb 23, 2012
You can either buy a new car with $5,000 down and pay $333.33 per month for 5 years...
Or you can buy an old car for $4,000, spend $1,000 on repairs, and put $4,000 into a Roth IRA each year to end up with $20,000 plus earnings in 5 years.
My 2000 model year vehicle was paid off in 2003. I'm still driving it.
skeloothFeb 21, 2012
I drive the same 1995 vehicle I drove in 1998. :)
emfkFeb 21, 2012
With all the drama and upheaval in car manufacturing these past few years, you can't blame people.
pivenFeb 21, 2012
Keeping a good used car is smart .
A new large monthly car payment is not helpful during an economic collapse.
zjm9133Feb 21, 2012
New cars don't have any features that entice me over older models. I drive a 1999 Jeep Wrangler and honestly cannot see myself getting rid of it. I have plans to rebuild the engine next summer, complete a frame off restoration, and have the car last another 20 years. Even driving my sisters brand new luxury Altima or my mother's new Insight (I do not live at home), nothing really draws me to spending $30,000+ on a new car. Bluetooth, don't want it. Touchscreen? Not while i'm driving. Heated seats? Don't need them in NJ. It's like the argument over what makes a BMW 3-series a superior car. Ten years ago I would have been right on board you, but now? Leather interior, heated mirrors, and an LCD screen are not just limited to the luxury class.
craig1958Feb 21, 2012
I agree. I went to the detroit auto show last year and did not see anything that really tempted me. I drive a 1982 car and my wife drives an 2004; I prefer mine.
craig1958Feb 21, 2012
If you are buying new cars and selling them after only 6 years, you are still taking a pretty big depreciation hit. You would probably be better off buying two year old cars and keeping them for 4 years. I never, ever buy new cars; they are a horrible deal. If you insist on buying new cars, you need to keep them for a very long time to make the numbers work.
publiclurkerFeb 21, 2012
While I buy new (my family has a history of getting lemons when buying used), I generally keep them at least 14-15 years. Why get rid of something just because it's old? It's not like I'm Gingrich going through wives.
craig1958Feb 21, 2012
That works, you are getting the full value of the vehicle. The problem is the folks who pay 75% of the cost for 50% of the life of the car.
caseycooldFeb 21, 2012
It's more like 75% of the cost of 10% of the life of the car
prestonoFeb 21, 2012
Mine is over 10 years old and been driving since '06 with no problems.
hackiewackieFeb 21, 2012
With recession, numbers aren't a big issue, right?
floorboardFeb 21, 2012
Showing signs of improvement my arse. Shipping is down, energy usage of all types is way down.
Unemployment (gamed to look like people who've lost all hope are employed) and the 1%-gamed Wall Street (hey, we're going to $5 a gallon gas! Bonuses for everybody!) are not any indication of any kind of serious recovery.
Wonder how the government's gonna find the money to patch THIS hole. Well, the 1% will get theirs, don't worry.
shrikedoaFeb 22, 2012
Been driving my 1999 Saturn for 13 years. That's a metric crapload of years with no car payment.
motozeroFeb 22, 2012
My bank said that before they will loan me money for a house, I must make a "big purchase like a car" then pay it off. My life savings is 20k, why would I spend that and have to live another 20 years to make it back? I'm a public teacher, so I learned to buy a car from the owner because the same car from a dealer will be like 3k more, just because of dealer "fees". Why am I penalized every day for not being in debt? I feel the the feudal system is angry at me because I will not submit to the lords...
craig1958Feb 22, 2012
Find another bank or a credit union; or find an owner who will self-finance a house sale. Never borrow money to buy a depreciating asset like a car.
motozeroFeb 22, 2012
Thanks for the advice,, self- financing sounds viable. I don't like to let all these people that do very little take a cut all the time.
suite307Feb 22, 2012
I waited 13 years before switching cars.
messplaypcFeb 22, 2012
My car is pushing the 11-year mark. I hope to God that it will last much longer than that. I can't fathom having to shell out the money to get something else to take its place any time soon.
Edit: I wonder what the average owner-span of a motorcycle is.
craig1958Feb 22, 2012
I've owned the same motorcycle for about 26 years, but that's probably not the average.
barackalypseFeb 23, 2012
Generally until the first wreck, then most of the survivors sell and buy something that surrounds them in metal.
rasyidridho07Feb 22, 2012
esemka
withearsFeb 21, 2012
I can't believe that it is ONLY six years.
Mine is 22+ and still going great.
craig1958Feb 21, 2012
My daily driver is 30 years old and has over 600k total miles (the drive train has been replaced twice).
ageofmasteryFeb 23, 2012
Considering how many ads for car dealerships I hear offering 60 month terms, this doesn't surprise me at all.
People are going to keep their cars 6 or 7 years unless they like constantly having payments.
PHPMySQL127Feb 21, 2012
Thanks to emissions standards and electronics, cars are stupidly expensive now. A new Mustang cost just $2500 in 1965 - today costs $22,310!! Those kinds of costs have to be killing the working class for what is essentially a people mover.Comment is buried, click here to see the rest.
craig1958Feb 21, 2012
Well, according to this inflation calculator; What cost $2500 in 1965 would cost $17091.21 in 2010:
http://www.westegg.com/inflation/
As cool as a 1965 mustang looked, it wasn't a very good vehicle. It had a useable life of less than 100k miles and was likely to rust away completely in a few years in a northern climate. The new mustang is pretty ugly, but it is probably a better value. A $15,000 late model mustang still has much more lifespan and performance than a new 65 mustang. I wouldn't recumbent either as a "working class" people mover.