As a new car purchase is out of reach for many Americans, the average lifespan of vehicles is encouraging most people to just hang onto the cars they have.
According to a recent report by CNBC, the average cost of a new car is $30,500, accounting for the highest it has ever been. However, according to the Car Care Council, at a fraction of the cost, an auto owner can significantly extend the life of their current vehicle.
"Hanging on to your current vehicle allows you to redirect money you would spend on a new car to pay off credit card debt, college loans and other bills, beef up savings or even take a road trip vacation," said Rich White, executive director, Car Care Council. "By simply budgeting the equivalent of just one new car payment, consumers could cover an entire year's worth of basic maintenance."
White added that in the early 1970's, consumers could buy a home for $30,000 and a car for $3,900. He added that while cars are more expensive today, they are lasting longer than ever and with proper maintenance, a vehicle can easily surpass 200,000 miles and still be safe, efficient, dependable and enjoyable.
Tips to extend the life of your vehicle
Those looking to nurture the cars they have now should consult the owner's manual on any maintenance scheduling your vehicle requires. It is important to stay up with the suggestions put forth by your manual. It might require a little extra money up front for service fees but this is peanuts compared to a new car purchase or major repair if something happens to break down.
Car owners should also equip their vehicle's with Huskyâ€‹ Liners® vehicle floor mats. These liners will keep a car's interior looking as clean as the day it pulled of the lot.