The average age of vehicles in the U.S. has reached an all-time high of 11.5 years. Cars have become much more reliable throughout the years, so they can endure the road for a significantly longer period of time.
Still driving a car with a cassette deck?
We’re keeping our cars longer than ever. So it’s important to know the long-term cost of car ownership. Eight (8) factors go into the long-term car cost of ownership calculations: purchase price, depreciation, financing, fees and taxes, fuel costs, fuel economy, insurance, and maintenance and repairs. When it’s time to buy a new (or used) car, check out my Car Cost Comparison Tool for Excel which analyzes your options to save you money in the long term.