Cars are lasting longer nowadays – How old is your car?
If you feel self conscious about that old car you’re driving, don’t worry about it, you’re not alone.
The average age of vehicles on the road in the United States is rising, while at the same time, we’re buying up more new cars than ever since the Great Recession.
The typical car on the road in the U.S. is a record-high 11.5 years old, according to a new IHS Automotive survey. Yet Americans are buying cars at an annualized rate of more than 17 million vehicles, marking a high not seen since before the Great Recession. In fact, U.S. vehicle owners bought 42% more cars than they scrapped in 2014, according to IHS. The number of light vehicles registered in the U.S. hit an all-time high of 257.9 million units.
The good news is that cars are lasting longer which means you can keep them on the driveway next to your new one, or drive them to cut down the milage on your leased vehicle. Either way, it’s a win win.
What’s the oldest car you’re driving? How is it holding up?