News, Americans keeping cars longer. (car payments, luxury, vehicle, sedan)

[JD59]

In 2007, 41.3% of cars were 11 years or older.


DETROIT - Americans are keeping their cars and trucks longer as quality improves and the uncertain economy makes new purchases less appealing, according to a study released this week by automotive consulting firm R.L. Polk & Co.

Americans keeping cars and trucks longer - Autos - MSNBC.com

[Huckleberry3911948]

global economy, in china they ride bicycles, you wont believe what happens next.

[southernnaturelover]

This may not be best for the car companies, but I think it's best for people to keep their vehicles longer. Americans spend way too much on depreciation by trading so often, which is probably one reason why we are so badly in debt.

[andthentherewere3]

I suspect I'll be keeping this car around for quite a while, with two teenagers about to start college. My car will be paid for in 3 1/2 years, and I'm already counting on those months afterwards with no car payments.

[gardener34]

Europeans buy 5-10 year old cars all the time and they are happy to get one. We normally try and keep our cars for 10 years and maintain them impeccably - which is why we usually buy new.

The country shouldn't be basing their economy on the "guarantee" that americans should buy a new car every 4 years.

[RDSLOTS]

My car is a 1994 with 175,000 miles on it, and my husband's is a 1996 with about 130,000. They were quality cars when we bought them, and we've never had a minute's trouble -- just routine maintenance, and the things that wear out along the way.

I was never so mad as the day someone made a left turn into my driver's front panel. Until that point, it had never had any record of an accident.

I have always wished the US had some sort of moratorium on buying new, or offered big incentives to folks who hang onto a vehicle for longer than two years. Even the age of our automobiles, my sedan gets as much as 27 mpg on a trip, roughly 18-20 mpg around town. Hubby is most proud of his 30 mpg around town, but then, it's a little two-seater.

[gardener34]

Before it was pollution concerns, they wanted to discourage the old cars, but the newer cars are all pretty friendly as far as mileage and emissions and stuff goes if they are kept up.

[square peg]

Is this the thread where I should post that I just traded my daily driver 87 Volvo for a 95? In Vermont, cars get rusty - and that's just what was going on with my 87. Mechanically speaking, it was a gem. The interior was perfect and everything except the AC worked. I buy cars from a bit further south where they don't salt the bejeesus out of the roads.

[wankel7]

I had my 95 gmc for 5 years....just sold it for a 2004 focus wagon. I got a really good deal on the wagon and plan on keeping this one for a good long while.

Never had car payments and don't want them. A house is more important right now...

But it sure would be nice to have a brand new car! Just not anytime soon

James

[Skywings]

Mine is a 2002 and has 99,834 miles on it. I fully intend to keep it at least until 200,000 miles.

The only reason I'd consider buying anything before then, is if gas prices really go through the roof. My car requires hi-test (93+) and gets 19-20 mpg "city", 24-25 mpg "highway" -- but I don't take long trips anymore, so 19-20 mpg is pretty much what it is. (no it's not an SUV, it's a 4-dr 6-cyl luxury sedan)

If hi-test were to hit $5/gal I'd really have to consider getting something more efficient but it would also depend on what kind of car it was, price, etc.

Hopefully by the time my car hits 200,000 miles almost everything will be hybrids and they'll have worked out all the kinks in that.