My car was manufactured about eleven and a half years ago, which I thought was relatively old. That’s why I was surprised to learn that it’s perfectly average. According to data compiled by the consulting firm IHS Automotive, cars that are registered and on the roads have an average age of 11.5 years, and there’s a record number of cars registered right now. [More]
If you want to save as much money as possible on your vehicle expenditures, don’t buy that next car until you absolutely have to. From the frugal perspective, you’re always better off investing in your current car’s well-being rather than dumping payments into its replacement.
Although it’s tempting to want to buy a flashy new ride to keep pace with neighbors, friends and coworkers, there’s a significant financial incentive to run an older vehicle into the ground.