The average age of cars and light trucks on the road is now double what it was in 1970.
(Money Magazine) — More and more, people are in a committed relationship — with their wheels.
The average age of cars and light trucks (SUVs included), says Experian, is now 11 years — double the age in 1970. Driving this: higher quality and, lately, a poor economy.
Plus, as auto historian John Heitmann notes, buyer frenzy about new tech and dramatic model changes isn’t at the car lot anymore; it’s at the Apple Store.
Roadmap
Keeping your car? Regular oil changes are a no-brainer, but most people neglect to replace the timing belt every 60,000 miles or so, says Russ Evans of the Under the Hood radio show. Skipping that $800 to $950 job can lead to major engine failure.
Fixing it? A broken transmission or a blown head gasket can cost thousands to mend; your cash may be better spent renting a car while you shop for a new ride, says Autoblog’s Jeff Sabatini. Steer clear of repairs costlier than your car’s trade-in value.
Selling it? Because of high demand, late-model cars can get a surprisingly good price from a dealer these days.
Even clunkers, though, will move on sites such as Craigslist. A $200 wash and detail could make you $500 or more in return, says Richard Arca of Edmunds.com: “Clean junk brings in more than dirty junk.”
