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To keep or sell old cars, that is the question

Classic car restoration is a passion for many collectors.

The consensus among car owners is to keep their old cars longer. According to IHS Markit, the average age of cars on U.S. roads reached more than 12-years-old in 2021.

It isn’t uncommon for vehicles to last well past the 100,000-mile milestone, with some cars exceeding 200,000 miles. In the wake of the post-pandemic economy, it is expected drivers will keep their vehicles even longer.

Still, not every car owner is willing to keep their vehicle forever. In fact, despite the economic situation, some drivers are already wondering how to sell a car rapidly so they can buy their next vehicle.

Car Owners in the United States are getting their old cars longer but also in some instances selling them for more tech features in newer cars.
Car Owners in the United States are getting their old cars longer but also in some instances selling them for more tech features in newer cars.

In a context where vehicles are durable and can maintain their performance for many years, it is worth asking why they want to change their cars. After all, many would consider it more cost-effective to drive the same car for longer.

Here are the most popular reasons why American drivers are selling their vehicles.

Electric vehicles are more affordable. They’re eligible for federal and state tax credits, making them more accessible to buyers. It’s also worth mentioning some dealerships are ready to pack additional rebates to the final cost.

Drivers who wish to own an environmentally friendly vehicle with zero-emission can find reliable and performant electric models for less than $45,000. With a variety of choices and discounts available, it’s easy to understand why many drivers are keen to swap their fossil-fuel-powered vehicles for green and renewable energy.

According to recent surveys, 9 in 10 Americans want to maintain remote work to some degree. While a high number of professionals worked from home during the pandemic, a high proportion of white-collar jobs have embraced remote working options permanently.

It makes sense to get rid of a vehicle if it is left unused for long periods. Maintenance and insurance costs are likely to make it uneconomical to keep an everyday commute car as a remote employee.

While all home-based workers choose to sell their old cars, city dwellers with less commute requirement prefer to become car-less or purchase a smaller vehicle. Small city cars are an ideal choice for people who don’t need long-distance commutes. These vehicles are practical for city driving and parking and the insurance costs less.

Nearly 50 percent of American drivers wish their cars had more tech features Younger drivers explain advanced features are crucial when deciding to purchase.

While tech features such as power windows and cruise control are common in most cars, drivers seek additional safety and driving features for everyday use. Integrated navigation system, smart key, blind spot camera, parking camera, lane departure warning, and automated parking are some of the less common features.

It makes sense for car owners who can afford better and more expensive models to upgrade their driving experience to sell their old cars.

Should you sell or keep your car? Reasons to sell vehicles in 2022 are driven by environmental concerns, life changes and tech features. It may mean car manufacturers will further focus on models that meet the needs of a post-pandemic generation.

Content provided by The Weekly Driver New Service additional news sources.


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