Average Vehicle age now 12.6 years old

[SC Maintenance]

No surprise really.

“The average age of U.S. cars and light trucks this year rose to a record 12.6 years, according to the report by S&P Global Mobility on Wednesday, up by two months from 2023.

Though the rise in the average age of vehicles has slowed as new registrations improve, S&P said it expects those aged six to 14 years or older to account for 70% of the vehicles in operation over the next five years.”

https://www.reuters.com/business/autos-transportation/americans-keep-vehicles-record-126-years-average-despite-easing-supplies-sp-says-2024-05-22/

 

[StumblingElk]

What? Who doesn't want to pay $55k car at 8% interest for 8 years?

What really grinds my gears is how longevity of modern platforms has decreased compared to years past.

Is it really worth 1 extra mpg if you have to rebuild the top end at 60k miles? Or constantly burn oil? That's real good for the environment

Rant off/

 

[fdcg27]

I suppose we should credit the Improved reliability and durability of recent vehicle platforms.
When you can do the first 120K or so with no repairs and only consumables needing replacement, longer term ownership becomes both practical and cheap.
People used to replace cars earler mainly due to their becoming troublesome money pits.
Not so much these days.

 

[CKN]

What? Who doesn't want to pay $55k car at 8% interest for 8 years?

What really grinds my gears is how longevity of modern platforms has decreased compared to years past.

Is it really worth 1 extra mpg if you have to rebuild the top end at 60k miles? Or constantly burn oil? That's real good for the environment

Rant off/

Do you have statistics to back that up? OR-are you basing that ( on anecdotal evidence) by those who go on the Internet to complain? And not thousands of owners who DON'T POST but are happy?

Previous years past? What decade would you be referring to?

 

[fdcg27]

This. I had a neighbor down the street that was always leasing a new luxury car from mercedes and bmw every 2 years, always had new clothes, and were always going out to eat. Back in 2017 a foreclosure sign magically popped up on their yard and they were never seen again. It's surprising that some "adults" are this out of their minds and can't get their priorities straight. They wanna look the most rich but only end up being the most poor.

There are plenty of childless couples with two decently high incomes who can afford all of this and more.
It's a matter of how one was raised and what one wants.
I was always taught to live below my means and spend less than what I earned and that's worked out well for us, but not everyone follows that path.
This may be the reason that some folks don't retire, not because they don't want to, but because they can't afford to.

 

[SC Maintenance]

Do you have statistics to back that up? OR-are you basing that ( on anecdotal evidence) by those who go on the Internet to complain? And not thousands of owners who DON'T POST but are happy?

Previous years past? What decade would you be referring to?

I have posted about several possible modern specimens here and been told by many knowledgeable people here of all the potential problems. There is no free lunch. If you lighten things up to the max you have to give up something. Reliability is one of those things.

I agree that the current offerings won’t last as long as the last generation. The previous generation benefitted from Complete closed loop control and material advancement while maintaining overall over engineering of critical parts. The engineers know what they can cut now.

 

[Snagglefoot]

I’m seeing ads for 0% financing for up to 6 years. Inventory is climbing I guess.

 

[daves87rs]

Cars are going to get cheaper, as there will be no choice. Car repos have spiked in the last few months proving that folks can’t afford 1000 payments every month (not including insurance). Both of mine are closing in on being paid off. While that happens, I am taking my time funding a solid beater to replace my Cobalt. Even my kid will start with a beater…..

People may not have a choice on affording their home/rent, but they still have options in transportation….

 

[CKN]

I have posted about several possible modern specimens here and been told by many knowledgeable people here of all the potential problems. There is no free lunch. If you lighten things up to the max you have to give up something. Reliability is one of those things.

I agree that the current offerings won’t last as long as the last generation. The previous generation benefitted from Complete closed loop control and material advancement while maintaining overall over engineering of critical parts. The engineers know what they can cut now.

Just so we are clear on the word you used.

 

[KGMtech]

Only concern I have is the OEM's ( you all know who) all want to cease production of any parts after 10 years and the electronic modules are virtually impossible to source new after 8 years. Lord help you if you chose a rare, low volume North American BIG three car after 8 years past new.

 

[Snagglefoot]

I suppose folks can chime in with their beaters. I have a 19 year old Ford Taurus. The after market support is good. You can even get an AC Delco water pump for it.

 

[Oillover]

I’m seeing ads for 0% financing for up to 6 years. Inventory is climbing I guess.

True, but who really wants an EV?

 

[Snagglefoot]

Need an ignition coil for a 1982 Lancia Zagato? Rock Auto has your back.

 

[Leo99]

Only concern I have is the OEM's ( you all know who) all want to cease production of any parts after 10 years and the electronic modules are virtually impossible to source new after 8 years. Lord help you if you chose a rare, low volume North American BIG three car after 8 years past new.

That's your choice going in. There is strength in numbers.

 

[macarose]

Toyota Echo's forever!

 

[Leo99]

I was thinking about this the other day. I got my driver license in 1980. My best friend had a 73 Cutlass that he bought used for cheap. People at school had a 65 Mustang or a 71 Mach One. 15 year old cars were cheap and towards the end of their lifespan. Now, a 2009 car is not an old car. My Camry is 9 years old and I'll be driving it until something a lot better comes along. Things are pretty stagnant.

 

[SC Maintenance]

Just so we are clear on the word you used.

Yes. Possible ones I have wanted to buy and been given factual information on common problems.

Since you seem to fancy yourself the expert tell me what OEMs have done in the last decade to lengthen life expectancy?

 

[CKN]

Yes. Possible ones I have wanted to buy and been given factual information on common problems.

Since you seem to fancy yourself the expert tell me what OEMs have done in the last decade to lengthen life expectancy?

There will be no winners here.

 

[Snagglefoot]

True, but who really wants an EV?
View attachment 221466

Even after the rebates, the dealers have to kick in a little more incentive.

 

[Bill7]

No surprise really.

“The average age of U.S. cars and light trucks this year rose to a record 12.6 years, according to the report by S&P Global Mobility on Wednesday, up by two months from 2023.

Though the rise in the average age of vehicles has slowed as new registrations improve, S&P said it expects those aged six to 14 years or older to account for 70% of the vehicles in operation over the next five years.”

https://www.reuters.com/business/autos-transportation/americans-keep-vehicles-record-126-years-average-despite-easing-supplies-sp-says-2024-05-22/

I prefer the styling and reliability of the older cars.
I just can't bring myself to buy anything that is over priced (which includes most new cars these days).
Older cars have a history you can check online so you can learn which models are the most reliable, and also which years are the good and bad years for each model.

Buying a new car at the current inflated prices is risky since you don't know what hidden defects it will have.
With older cars, you can easily google to find out (so less unknowns).