Average U.S. vehicle age hits record 12.6 years as high prices force people to keep them longer
Average U.S. vehicle age hits record 12.6 years as high prices force people to keep them longer
With an average U.S. new-vehicle selling price of just over $45,000 last month, many can’t afford to buy new — even though prices are down more than $2,000 from the peak in December of 2022, according to J.D. Power.
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Seems about right. I rather continue keeping my current vehicle (2016) well maintained than to get a high interest loan with a overpriced price tag on a new OR used vehicle.
Seems right to me as well. I do buy new but always kept them until repairs cost more than the car is worth, generally 10-15 years in.
I’m sure someone willing to either do the repairs themselves or risk spending more, could keep my cars on the road even longer