Americans are Holding onto Their Cars Longer

shiny new red cars

The economy’s doing well and people are buying more things. But Americans are hanging on to their old cars. A new study proves it: cars today are older on average than they were nine years ago.

It’s kind of confusing if you think about it. If there’s more money to spend, why aren’t Americans spending money on buying new cars? Here’s why: fees go down when you stick with your older car. There’s no one-time sales tax to worry about. And even insurance fees tend to go down when you’re driving an older car.

It seems these savings are the main incentive behind keeping that car going just a little bit longer.

Or maybe cars are being made better, and as a consequence, last longer, too.

Who knows?

At Kars4Kids, one thing we can tell you is that donating your old car makes for a lot of happy kids. Plus, money in your wallet toward that brand new car you’ve had your eye on.

Something to think about.

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