Why Americans Are Hanging Onto Cars for 10+ Years (and What It Means for Repairs)
This article explores why the trend toward long-term car ownership has taken hold, how it affects repair bills, and what smart drivers are doing to protect themselves from the financial hit of aging vehicles.
For decades, the average American replaced their vehicle every five or six years. Today, that cycle has stretched dramatically.
Many drivers are keeping cars 10 years or longer, a shift that reflects rising vehicle prices, higher financing costs, and improved vehicle longevity. While a longer ownership period may be good for avoiding new-car payments, it also brings fresh challenges, particularly when it comes to repair costs and warranty protection.
This article explores why the trend toward long-term car ownership has taken hold, how it affects repair bills, and what smart drivers are doing to protect themselves from the financial hit of aging vehicles.
Automakers have made significant strides in reliability. Advanced engineering, better corrosion protection, and longer-lasting drivetrains have extended the lifespan of modern vehicles. It is no longer unusual to see a car hit 150,000 to 200,000 miles with proper maintenance.
At the same time, the cost of a new vehicle has surged. According to industry reports, the average transaction price for a new vehicle in 2024 is hovering near $48,000. That is enough to make many buyers rethink trading in after just a few years.
While vehicles last longer, repair costs rise sharply as warranties expire. After the factory bumper-to-bumper warranty ends (typically 3 years/36,000 miles), owners face higher out-of-pocket expenses for repairs and technology-related fixes.
Here’s how ownership length influences repair spending:
Ownership Year | Typical Coverage | Likely Repair Costs | Common Repairs |
1–3 Years | Factory bumper-to-bumper warranty | Minimal | Basic maintenance |
4–6 Years | Powertrain warranty only | Moderate | Suspension, brakes, electronics |
7–10 Years | No factory coverage | High | Transmission, cooling system, fuel system |
10+ Years | No coverage | Very high | Engine rebuilds, HVAC, advanced electronics |
Keeping a car 10 years or more can make financial sense, but it shifts costs from car payments to repairs. For many owners, an extended car warranty provides a safety net. By locking in coverage while the vehicle is still relatively new, drivers can avoid expensive surprise repairs during years seven through ten, when the vehicle is still in daily use but out of factory protection.
A side-by-side comparison highlights the difference:
Coverage Type | Duration | What’s Covered | Owner Responsibility |
Standard Factory Warranty | 3 years/36,000 miles (bumper-to-bumper), 5 years/60,000 miles (powertrain) | Repairs due to defects | Maintenance and wear items |
Extended Car Warranty | Flexible terms up to 8 years/150,000 miles | Engine, transmission, electronics, air conditioning, and more | Maintenance and wear items |
Long-term car ownership is here to stay. As Americans hold onto their vehicles for a decade or more, understanding the financial implications is critical. Extended warranty coverage has become less of a luxury and more of a planning tool, helping drivers manage repair costs while keeping vehicles on the road longer.
If you are keeping your car for the long haul, you can protect yourself with extended coverage options directly through Granger Warranty. Get a quote today and see how easy it is to safeguard your budget from the realities of long-term ownership.
High new-car prices, better engineering, and changing consumer habits have pushed ownership cycles well beyond a decade.
Transmission repairs, suspension components, electronics, and HVAC systems are among the most frequent big-ticket issues.
It covers major components beyond the factory warranty, reducing out-of-pocket expenses as the car ages.
Yes, but purchasing earlier often provides better coverage options and pricing.
In most cases, yes, if you avoid frequent large repairs. Extended coverage can tip the balance further in favor of keeping your vehicle.
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