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Owners Waiting Longer than Ever to Trade In

10 years, 150,000 miles the new norm?

by on Jul.30, 2012

Drive it til it drops?

American motorists are waiting longer than ever to trade in their cars, trucks and crossovers – with 10 years and 150,000 miles becoming the new norm, rather than the exception, according to a pair of new reports.

In the golden era of planned obsolescence, it became common for American new car buyers to trade in as often as every two to three years.  Perhaps that was no surprise in an era when quality and reliability were secondary to styling and automotive one-upsmanship.  But as quality and reliability become essential requirements for automakers consumers can be comfortable a car will last longer – something that has become a requirement as prices rise and the economy falters, analysts suggest.

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Nearly eight in 10 owners will now hold their vehicle for a decade or longer before trading in, according to a survey by AutoMD.com, while a Black Book survey finds that the majority of owners will not trade in until their vehicles have at least 125,00 to 150,000 miles on the odometer – with 200,000-mile trade-ins being anything but rare these days.

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