If you buy a new car today, there’s a 78% chance that you’ll keep that car for at least 10 years. The average US marriage lasts less than 9 years. Okay, you might really love the car, but that’s not the reason you’ll keep it.
According to a poll at autoMD.com, a car repair web site, 78% of those polled report that they plan to keep their current car for at least 10 years. Cars are simply much better made than they were years ago, when automakers were accused of planned obsolescence buy changing designs every two or so years, and building cars that just seemed to fall apart one little bit at a time. Today’s weak economy also plays a significant role in car buying habits.
Credit Japanese car makers like Toyota Motor Corp. (NYSE: TM) and Honda Motor Co. Ltd. (NYSE: HMC) for forcing US car makers to pay attention to quality beginning in the mid-1970s following the first oil price shock, when gasoline pump prices rose to around $1/gallon.
According to R.L. Polk & Co., a market research firm, US car owners now hold on to their cars for nearly 6 years, and the average age of cars and light trucks on US roads is nearly 11 years, an all-time high. The average marriage lasts less than 9 years. Think about it.
Paul Ausick
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.