The average age of a passenger vehicle on the road hit a record 12.5 years this year
ANN ARBOR, Mich. — With new and used cars still painfully expensive, Ryan Holdsworth says he plans to keep his 9-year-old Chevy Cruze for at least four more years. Limiting his car payments and his overall debt is a bigger priority for him than having a new vehicle.
Prices reached record highs. And though they’ve eased somewhat, the cost of a vehicle still feels punishingly expensive to many Americans, especially when coupled with now much-higher loan rates. Used vehicle prices, on average, have surged even more since the pandemic hit — up 40%, to nearly $29,000. With an average loan rate having reached 11%, the typical monthly used-vehicle payment is now $563.
“You see cars all the time in here with 250,000, 300,000 miles,” said Jay Nuber, owner of Japanese Auto Professional Service, a repair garage near downtown Ann Arbor, Michigan. “They haven’t been really having major work or anything. They’ve just been doing the service.” “The repair-versus-buy equation changed,” said Todd Campau, an associate director with S&P. Even with rising repair costs, Campau said, it’s still typically more cost-effective to fix an older vehicle than to spring for a purchase.
Even with more durable vehicles able to last longer, all of this has created a boom time for auto shops. Through most of last year, Nuber’s Japanese Auto was overwhelmed with customers. It took up to three weeks to get an appointment, whether for repairs or the routine maintenance that older vehicles, in particular, require.It’s now at the point where some vehicle owners must decide whether to pay for a repair that costs more than their vehicle is worth.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Repelled by high car prices, Americans are holding on to their vehicles longer than everAmericans are keeping their cars longer than ever
続きを読む »
Mom forever: Americans to drop record-breaking 35.7 billion on Mother’s DayShe's never meant more.
続きを読む »
Non-Americans Who Moved To The US Are Sharing Their Funniest 'Coming To America' Story'Upon arriving in the US, he went to Goodwill to get some 'American clothing.' He bought multiple Hooters T-shirts because he loved the owl design. He continued to go to work and pick his kids up from school in Hooters shirts for months before anyone told him what Hooters actually was.'
続きを読む »
Courtroom sketch artist takes Americans where cameras cannot goBill Hennessy has been one of the most prolific courtroom artists for decades — sketching some of the nation's highest-profile trials and legal proceedings, where cameras often are not allowed.
続きを読む »
This ‘Family Home’ Harbors a Dark Secret That Is Killing AmericansYou’d never be able to tell from the outside.
続きを読む »
Reparations insult California’s native AmericansOPINION by JAMES R. HENRY California has not yet acknowledged tribes that have applied for state and federal recognition. So reparations? Hahaha, I doubt it. Hearst Castle, Camp Roberts and Fort Hu…
続きを読む »