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In the US the average length of car ownership for new cars is 6.5 years [1], so it does matter what your car is worth after this time. Not sure if it amounts to
by sdfx 8y ago
In the US the average length of car ownership for new cars is 6.5 years [1], so it does matter what your car is worth after this time. Not sure if it amounts to ca. 6,000 USD per year, tho. That's a lot of depreciation.
[1]: https://www.statista.com/statistics/581017/average-length-of-vehicle-ownership-in-the-united-states-by-vehicle-type/ https://www.statista.com/statistics/581017/average-length-of...
- philliphaydon 8y agoOh wow. Ok. I would drive a car till it died. Wouldn’t buy a new one every few years.
- jonknee 8y agoThe type of person who buys a brand new car probably likes a brand new car (new features, status, reliability, etc) and that doesn't change after a handful of years. Or the other way around, the type of person who wants to maintain an older vehicle is probably not the type of person who will buy a brand new car. Obviously there are exceptions, but the used car market is much larger than the new car market so most are selling.