HOUSTON, TX - Are you one of those people who's hangin' onto your old hooptie for dear life? Well, you're not alone. In America, the average car on the road is 12 years old or older, according to an IHS (Information Handling Services) Automotive survey.
What's that say about us?
"We're not making as much money to pay those high car notes," says Launeka Lauderdale who drives a 2006 Chevy Cobalt. "And because we're getting better cars."
Wendell Fredieu, who drives a 2015 GMC Terrain has a different explanation. "A long time ago having a new car was a big thing," he says. "It was your prized possession. Now it's more of a vehicle to get around in."
"I drive a 2003 Infiniti M45, and I have 125,000 miles on my car," explains Rusk Elatassi. "So I'm one of those people who hold onto the car until, literally, the wheels fall off."
He's also the owner of River Oaks Goodyear Tire and Auto. "Across the board, if you maintain your car properly, you can get a lot longer life out of your vehicle than you were doing 15 to 20 years ago," he says.
This year, the U.S. hit an all-time high for light commercial vehicles registered on the roads -- 258 million! That last 58 million are all 16 years old or older. This might be because it's cheaper to do a $2000 repair on an old car than start from scratch paying for a new one.
"You may be able to drive the car for another two to three years," explains Elatassi, "but you can't get another car for $2000 that may be just as reliable."
So be proud of that old load, folks, you're rollin' in good company!