Americans are Keeping Cars Longer

January 24th, 2014 by

Vehicle repair shops everywhere are excited about the new poll from Polk, who reports the average age of cars and trucks currently being operated in the U.S. is 10.8 years, which is at an all-time high. “People are keeping their cars because the quality is so much better and they are trying to avoid the monthly payments,” said Mark Seng, a Polk vice president.
Analysts from MarketWatch found three main reasons drivers are keeping their cars longer, and as a result, used car prices are on the rise. 

  • Weak job market – The recession prompted many car buyers to keep and care for the vehicle they have.
  • Increased use of long-term financing – More people are financing cars for 72 months, meaning they’ll keep their cars for at least six years and probably longer.
  • Improved vehicle quality – Car companies are simply making cars better.

Sellers (or Trading) of Used Trucks and Cars
According to the National Automobile Dealers Association, used vehicle sellers have the upper hand. Used trucks and cars are selling for slightly more than they were two years ago.
Consumers of Used Trucks and Cars
If you’re in the market for a used truck or car, the Wall Street Journal suggests buying sooner rather than later because prices are not expected to decrease anytime soon.  Today used car buyers can buy with confidence because the reliability and quality of vehicles have greatly increased from years past.

If you have a used truck or car that you’re looking to sell, or you’re in the market for a safe and reliable used vehicle, it’s time to visit one of Cactus Jack’s many used car lots in AZ today!

Cactus Jack’s has hundreds of used trucks and cars waiting to be driven home today. No matter your credit history, Cactus Jack’s can get you into a used truck or car with our guaranteed bad credit car loan and buy here pay here financing options. For all your used car needs, visit one of our used car dealers in Tucson today and let the friendly and knowledgeable staff at Cactus Jack’s show you affordable used car prices. Contact Us to discuss our guaranteed bad credit car loans, or Click Here to view our inventory.

Image courtesy of stockimages – FreeDigitalPhotos.net.

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