People holding on to their cars longer than ever

[KNS]

Of course we all know that the average age of cars on the road is getting higher and higher. I read an article that manufacturers are fully aware that owners are holding on to their cars for longer and longer, delaying the purchase of a new car. This is frustrating for them. Some European manufacturers are discontinuing (sooner than normal) parts availability on older models to make it harder for owners to keep their old car on the road - forcing people into buying new.

This was somewhat confirmed when I stopped by the local BMW dealer parts counter and the parts guy said BMW was starting to eliminate a whole bunch of E46 parts. The E46 is 20-25 years old now so this was inevitable but he mentioned the exterior door lock cylinder which is a bit more critical than common items available from the aftermarket.

[KFC911]

New cars averaging over 50K ... purchased mostly on cheap credit and financed for 8 years now.... 1K monthy payments on depreciating assets.... .

Used cars are close behind.

I saw that on the news yesterday....

Not me... not in my world... nope.

[wdfifteen]

Doing the math here…
Both my Volt and my Tundra are 7 years old and both at 70k miles. I’m nearly 76 years old….
Hmmm. I don’t think new car prices are going to be an issue for me.
I feel sorry for people who need a car. Given current car prices and housing costs, the lifestyle my generation enjoyed seems out of reach for Xs and Zs.

[Shaun @ Tru6]

Wrecking yards will be happy with discontinued parts availability to some degree, Chinese repros will fill in any gaps. I just put a new ATE rear caliper on my E92, it was more expensive than the plethora of pairs of Chinese rear calipers on the market.

[Shaun @ Tru6]

Originally Posted by wdfifteen

Doing the math here…
Both my Volt and my Tundra are 7 years old and both at 70k miles. I’m nearly 76 years old….
Hmmm. I don’t think new car prices are going to be an issue for me.
I feel sorry for people who need a car. Given current car prices and housing costs, the lifestyle my generation enjoyed seems out of reach for Xs and Zs.

I have said this before, someone could do well for themselves picking up older inexpensive Camrys and Accords, and their SUV counterparts, doing a light clean-up and new parts like brakes, maybe restored wheels and reselling for a reasonable profit. Focusing on a small number of models to start could be a good venture.

[Steve F]

Most our cars are over 40 years old, and had owned them for the last 25 years.

[wdfifteen]

Originally Posted by Shaun @ Tru6

I have said this before, someone could do well for themselves picking up older inexpensive Camrys and Accords, and their SUV counterparts, doing a light clean-up and new parts like brakes, maybe restored wheels and reselling for a reasonable profit. Focusing on a small number of models to start could be a good venture.

I think you’re right. There are outfits out there doing something similar. A guy (in Texas, I think) who refurbishes Jeep Cherokees. A company in Indiana does the same with N series Ford tractors. Several people are rebuilding pre-electronics John Deeres. These aren’t being restored for shows or hobbyists, they’re being rebuilt to go back to work as substitutes for expensive new equipment. Camrys and Accords could be kept going for 500k miles if they are caught and refurbished before it’s too late.

[onewhippedpuppy]

Originally Posted by Shaun @ Tru6

I have said this before, someone could do well for themselves picking up older inexpensive Camrys and Accords, and their SUV counterparts, doing a light clean-up and new parts like brakes, maybe restored wheels and reselling for a reasonable profit. Focusing on a small number of models to start could be a good venture.

I did this for years with mostly German cars. It has gotten very hard to find good used cars FSBO, either they have salvage titles or people trade them in because they are upside down and just roll their debt over into the next loan. They are out there but it takes a lot more diligent searching than 10 years ago.

[Shaun @ Tru6]

2012 Camry US sales: 400,000
2012 Accord US sales: 300,000
2012 BMW 3-series US sales: 100,000
2012 Mercedes C-class US sales: 82,000

It's all in the numbers. and parts are much cheaper. and market is much bigger so it could work.

[rfuerst911sc]

Generally I have always held onto vehicles for a long time , something about being cheap . So not a new position for me . If OEM's cutoff parts supply to force new sales I really hope the aftermarket parts suppliers will step up . I personally think forcing the public to buy new will backfire but I am definitely not the target market .

[porsche tech]

Originally Posted by rfuerst911sc

Generally I have always held onto vehicles for a long time , something about being cheap .

(Scottish). Me too.

[onewhippedpuppy]

Originally Posted by Shaun @ Tru6

2012 Camry US sales: 400,000
2012 Accord US sales: 300,000
2012 BMW 3-series US sales: 100,000
2012 Mercedes C-class US sales: 82,000

It's all in the numbers. and parts are much cheaper. and market is much bigger so it could work.

Very possible. Though I think the average Mercedes buyer is more appreciative of maintenance than the average Toyota buyer.

Anecdotally the last few cars I’ve sold in the $10k price range sold quick. My Gladiator sat for a month with zero interest despite being priced at book trade in value. I ended up getting a better deal trading it in. I suspect for higher value cars, there are far fewer cash buyers out there.

[cabmandone]

Originally Posted by KFC911

New cars averaging over 50K ... purchased mostly on cheap credit and financed for 8 years now.... 1K monthy payments on depreciating assets.... .

Used cars are close behind.

I saw that on the news yesterday....

Not me... not in my world... nope.

Yep. Pure crazy what vehicles cost. I was looking at a new truck recently. Price was $75,000. That's only $25000 more than I paid for my house and two acres of land back in 1995. But the truck has an inverter so an owner can put a microwave or crock pot in it to cook when their debt is too high and they have to live out of their new vehicle. Just gotta add a shower and crapper.

[GH85Carrera]

Originally Posted by rfuerst911sc

Generally I have always held onto vehicles for a long time , something about being cheap ..

My 911 is 41 and my El Camino is 40. Combined mileage is nearly 600,000 miles. Both are worth more than I paid for them, both get regular compliments when I drive them. I have zero intentions of replacing them. The day I can't get in and out of the 911 with ease, I will contemplate selling it.

If I suddenly inherited a huge load of cash from some unknown relative, I might buy a new Cayman with PDK and let the dealer do the maintenance. That will happen right after Bigfoot rides into town on a Unicorn, so I don't plan on it.

I have not had a car payment in this millennium.

[recycled sixtie]

Originally Posted by Shaun @ Tru6

I have said this before, someone could do well for themselves picking up older inexpensive Camrys and Accords, and their SUV counterparts, doing a light clean-up and new parts like brakes, maybe restored wheels and reselling for a reasonable profit. Focusing on a small number of models to start could be a good venture.

The Lexus dealership does this. I bought a 2015 Lexus Nx200t a year ago from them. I have only put 2500 miles on it in one year. I took it in for its service after one year and the list of recommended servicing was amazing. It shows what they did not do when they took it in on trade.

These are some of the recommended servicing items:
Replace battery
Replace transmission fluid(60k miles it has never been done)
Turbo servicing to remove carbon build up
Replace differential fluid
plus a couple of other things.

I will go ahead and get the battery replaced but want them to tell me how old the battery is. When I bought the vehicle they gave me a list of what the condition of most things were like brakes, tires but not what should be done.

Overall like the car. Comfortable, reliable and good in snow. But not as fun to drive as my daughter's Audi Q5.

Cheers, Guy

[greglepore]

My cars are all over 21 with the exception of the Cayenne, which has 180k on it. There's just no way I'd take the depreciation hit on a new vehicle, and buying them old means that the achilles heels are known and can be avoided. Imagine if you bought a new 6.4 Ford diesel at $70k in the mid teens-they're time bombs, a very large percentage have grenaded motors, and its usually not fixable. The 5 liter n54 and n63 BMW's, same.
Yes, parts are an issue for the Euros. MB used to produce parts forever, but the 90's cars are complex enough you can't realistically expect that. I just sold the s600 in part because of this.
I think though we're on the other side of the curve. The reliance on small displacement heavily stressed engines with turbo heat is going to reduce longevity and reliability.
Honestly, I'd rather have my old Cayenne than a new one. Off warranty they're stupid expensive to fix and seem more trouble prone. Porsche fixed a lot of the issues of the first gen by the time the 957 rolled around, but given the current climate I don't see them sticking with something and refining it. I'm also not a fan of the video console look of many modern interiors, but that's a grumpy old man thing.

[Shaun @ Tru6]

Originally Posted by recycled sixtie

The Lexus dealership does this. I bought a 2015 Lexus Nx200t a year ago from them. I have only put 2500 miles on it in one year. I took it in for its service after one year and the list of recommended servicing was amazing. It shows what they did not do when they took it in on trade.

These are some of the recommended servicing items:
Replace battery
Replace transmission fluid(60k miles it has never been done)
Turbo servicing to remove carbon build up
Replace differential fluid
plus a couple of other things.

I will go ahead and get the battery replaced but want them to tell me how old the battery is. When I bought the vehicle they gave me a list of what the condition of most things were like brakes, tires but not what should be done.

Overall like the car. Comfortable, reliable and good in snow. But not as fun to drive as my daughter's Audi Q5.

Cheers, Guy

This is probably part of their service strategy since they are a trusted brand and a dealership... you assume or maybe even the salesman tells you everything has been gone over, all fluids changed, etc.

A new independent will need a new window sticker with all the new parts and salesman making a point of showing them to prospective customers. Quick pics during service renovation as part of an online ad would be beneficial. Pics of shiny new calipers and rotors, new battery (if covered), etc. would go far I think in building trust and closing a sale.

[911 Rod]

The beauty of getting old is we can dream about our current cars lasting the rest of our lives.

[vash]

I told myself, "choose wisely".

(boring Toyota tacoma 2023). my wife told me to go find a lightly used conversion Sprinter van. total GREEN LIGHT!! I balked...push comes to shove, I will find it hard to drop that kinda coin.

[GH85Carrera]

Originally Posted by 911 Rod

The beauty of getting old is we can dream about our current cars lasting the rest of our lives.

I suspect I will not be buying any other car in my lifetime. One great thing about the GM G body is they made so many across so platforms. My brake pads and rotors fit Corvette, Cadillac, Buick, and more. The only part I can't find is the little computer inside the wiper motor cover. It runs the wiper delay. Mine is working fine now but worst case, no more delays setting, just low and high. Likely someone out there refurbishes them.

My water pump, alternator, starter and power steering pump all have free lifetime replacements. When a water pump starts leaking I just replace it for free, well except for the new antifreeze. I have had over a dozen alternators, and paid $40 for one back in 1992, all replacements are free. It is a 15 minute project to replace them.

My El Camino speedometer cable broke after 390,000 miles. A replacement one was $42 bucks, and a couple of hours to replace it.

The big challenge is to find a mechanic to work on it now days. I pretty much have to fix it myself, but that is a major part of the hobby of keeping old cars running.