Are You Keeping An Old Car On The Road Because New Cars Are Too Expensive?
Drivers are keeping older vehicles on the road much longer as new car prices and monthly payments climb to near-record highs. Rising vehicle costs have pushed new-vehicle affordability down, leaving many middle-class buyers struggling to purchase new models and forcing consumers to rely on repairs to maintain their current cars. Industry reports indicate that the average age of vehicles on the road is continuing to increase as automotive prices remain elevated. Car owners increasingly find that maintaining their existing automobiles is significantly more appealing than facing high-priced dealership purchases.
Listen to Live Briefing
Real-time synthesized voice briefing · Live Feeds Desk
- ✓ New car prices reached a nearly all-time high.
- ✓ New-vehicle affordability declined in September as prices and payments rose.
- ✓ The average age of cars on the road is getting higher and higher.
What changed
Cox Automotive and Kelley Blue Book reported that new-vehicle affordability declined further in September as prices and payments rose.
Live updates
-
Drivers Keep Older Cars on Road Amid High Prices
Drivers are keeping older vehicles on the road much longer as new car prices and monthly payments climb to near-record highs. Rising vehicle costs have pushed new-vehicle affordability down, leaving many middle-class buyers struggling to purchase new models and forcing consumers to rely on repairs to maintain their current cars. Industry reports indicate that the average age of vehicles on the road is continuing to increase as automotive prices remain elevated. Car owners increasingly find that maintaining their existing automobiles is significantly more appealing than facing high-priced dealership purchases.
Why it matters
New vehicle prices and financing terms have become increasingly restrictive for average household budgets. This trend reflects broader cost-of-living pressures affecting the automotive market as affordability declines. Industry data highlights that the market relies heavily on buyers who can afford to bypass standard purchasing pressures.
What is confirmed
- New car prices reached a nearly all-time high.
- New-vehicle affordability declined in September as prices and payments rose.
- The average age of cars on the road is getting higher and higher.
What to watch next
- Upcoming auto market affordability reports
- Changes in dealership vehicle pricing and inventory levels
confidence 90%Sources used for this update (26)
- www.cnn.com — Breaking News, Latest News and Videos | CNN
- www.pcgamer.com — PC Gamer
- carbuzz.com — The New Tesla Roadster Will Soon Be Revealed: Watch The Livestream Here
- www.theguardian.com — AI godfather Geoffrey Hinton: ‘We’re creating alien beings. I’m willing to be selfish and choose humans’ | Donald Trump
- www.slashgear.com — The US May Rewrite Some Rules Of The Road To Fight Annoying, Overbright Headlights - SlashGear
- Jalopnik — Are You Keeping An Old Car On The Road Because New Cars Are Too Expensive?
- Carscoops — The 2026 Car Market Depends On Buyers Who Can Afford To Ignore The Car Market
- Upper Michigan's Source — Covering the Co$t: The Necessity and Luxury of Buying a Car
- Yahoo Autos — The Hardest New Cars To Find Right Now Fall Below This Price
- Kelley Blue Book — New Cars Got Harder to Afford in September
- CarBuzz — America's New Car Market Is Leaving The Middle Class Behind
- thetruthaboutcars.com — New-Vehicle Affordability Declines, But Deals Exist
Community Sentiment: How do you assess this situation?
Voice your perspective · Real-time aggregated sentiment from the Live Feeds community