Average Period of Car Ownership

Since I realized that the only thing that depreciates faster than a car is a hot meal, I buy 'em new and keep 'em forever.

Now driving a 92 Explorer bought new on the last day of 1991. Currently at about 225K,

When it needs a repair, I look at the cost of repair against the cost of a new car payment.

Cheap? You betcha!

If you google "Average Period of Car Ownership" you will see some numbers. Looks like it varies by country, Canada was 8.4 years, Japan 7.1, Germany only 3.5. No doubt with the "renting of cars" via leasing becoming less popular (or even dropped by some manufacturers) the number will rise.

I myself have a 91 and a 98 vehicle but I don't think that's the norm. Indeed anyone that posts to this forum usually has older vehicles as they are capable of maintaining them (or at least they think they are ;-).

I had my first Explorer (4x2) stick shift 110k 10 years and traded it in for a new one in 2003. (I got $2000 for it) I lived through the Firestone tire fiasco (3 sets and a prorated rebate) then bought Michelins. Except for the tire thing I liked the old Explorer better. The 2003 has some quality flaws I am unhappy with (cracked tailgate panel, marginal paint job) though it has served me very well for 5 years. In this depressed SUV market I suppose I will keep it 'til it dies since it's paid for and I don't put many miles on it. Buying a hybrid anything doesn't make sense to me unless you are a high mileage driver. I don't think I will buy another car until the mileages come up appreciably on the midsize SUVs.