Granger Warranty - powered by Granger Motors

For many drivers, the old 100,000-mile mark once signaled the end of a vehicle’s useful life.

Today, thanks to better engineering, improved materials, and stricter reliability standards, more owners are holding on to their cars for 10 years or longer. The economics of this decision, however, go beyond just saving money on monthly payments. Long-term car ownership has both rewards and risks, and the balance often comes down to repair costs, warranty coverage, and peace of mind.

Why People Are Holding On Longer

High new-car prices and rising interest rates have pushed many buyers to stretch the life of their current vehicles. Owning a car 10 years can save thousands compared to cycling into a new loan every four to five years. Yet, while depreciation slows dramatically after year five, maintenance and repair costs typically climb.

The Costs of Going Long-Term

Here’s how the financial trade-offs often look for drivers considering whether to keep their car or trade it in after the factory warranty expires:

Extended Warranty Benefits in the Mix

One way to balance the risk is through extended warranty benefits. Factory warranties typically expire within the first five years, leaving owners fully responsible for repairs afterward. Extended coverage can cap costs and protect against big-ticket repairs like transmissions, air conditioning systems, or advanced electronics. For someone committed to owning a car 10 years or longer, this coverage can act as financial insurance against surprise bills.

The Real-World Repair Equation

As vehicles age, repair costs become less predictable. A study of average repair bills shows the financial gap between routine maintenance and major repairs:

These numbers illustrate the gamble. Skipping coverage can save on upfront costs, but one major breakdown may offset years of savings.

Striking the Balance

Keeping your car beyond a decade can be a smart financial move if you’re prepared. The reward is years of payment-free driving, but the risk is rising repair costs. Extended warranties smooth out that volatility, helping drivers control expenses while enjoying the benefits of long-term car ownership.

At Granger Warranty, you can compare coverage plans designed to protect vehicles well past the factory coverage period. For drivers choosing to keep their cars for 10 years or more, this may be the most practical path to predictable ownership costs.

FAQs About Owning a Car Beyond 10 Years

Is it worth owning a car 10 years or longer?

Yes, if the vehicle is well-maintained. The savings on loan payments often outweigh the increase in maintenance and repair costs, especially with warranty coverage in place.

Do extended warranty benefits really pay off for older cars?

They can. For high-mileage vehicles, one or two major repairs may exceed the cost of coverage, making warranties a strong hedge against unexpected bills.

What are the biggest repair costs after 10 years?

Transmissions, engines, and advanced electronics (like infotainment or driver-assistance systems) are often the most expensive items to fix.

How do I know if my car is worth keeping beyond 10 years?

If the vehicle has a solid maintenance record, no major rust, and hasn’t suffered repeated breakdowns, it’s often worth holding on to, especially if replacement costs are high.

Can I buy extended warranty coverage if my factory warranty already expired?

Yes. Providers like Granger Warranty offer coverage options for vehicles well past their initial warranties, depending on age and mileage.