The Average Length of Car Ownership at All Time High

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Man Holding Keys

We Americans love our cars. That’s why it may surprise you that we are purchasing fewer cars than we ever have in recent history. According to recent reports, the average lifespan of an American automobile is about 11 years. This is much higher than in the 1990’s when we were trading in our old wheels for new ones after owning them for around 8 years. So why is the average length of car ownership at an all-time high? Are we just getting more sentimental about our vehicles?

Buying a Used Car You Can Rely On

There are many possible factors that contribute to longer car ownership. Car financing has been extended to 72 months and this option has become popular, as it lowers monthly payments. Car loans used to have a five-year term for repayment, but now six-year loans are quite common. When you buy at reputable used buy here pay here car lots, you have the added convenience of arranging to finance at the same place that you take the car for a test drive.

Money has been tight for many Americans. The job market is highly competitive, unemployment rates have been high and fuel costs are volatile. People may simply be choosing to drive their current car longer to avoid monthly car payments. However, you get to a point in your vehicle’s life when you have the weigh the cost of repairs against the price of a new car. When you buy a high quality used car from car lots that are bought here pay here, you can be confident in your purchase and know that your low loan payment will be your only monthly vehicle expense.

Used Buy Here Pay Here Car Lots You Can Rely On

What is the best reason cars are lasting longer? They are being manufactured to last! Used car buyers can purchase a pre-owned vehicle with confidence, knowing that it was made of a higher quality than ever before. Go to a dealer you trust and ask questions to ensure that you and your family leave the car lot with the best possible used car for your needs. After all, chances are, you are going to own this car for a very long time.