Americans Keeping Vehicles Longer

The Beverly Hillbillies and their jalopy.  Heck, it still ran!
The Beverly Hillbillies and their jalopy. Heck, it still ran!

How long have you owned the vehicle you’re currently driving?  According to the latest numbers chances are pretty good you’ve had it a while.  The Polk Research firm says Americans are now keeping their cars, trucks and SUVs an average of just under eleven and a half years.  The company credits the trend to consumers’ desire to avoid car payments, an increase in the number of people financing for 72-months, and a general rise in vehicle quality. Polk vice president Mark Seng says, “Cars are just lasting longer.”  And he predicts the average length of ownership will rise as cars get still better.  So the next question is, how long will you keep driving your current vehicle?

Source:  www.detroitnews.com

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