How Often Americans Typically Replace Cars -- And How Much They Spend
With all the car ads you see on TV and shiny new vehicles you see on the road, you might think that Americans are constantly buying new cars. But if you look at the averages, the reality is that Americans tend to hold onto their cars for a long time.
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How Long Americans Keep Driving Vehicles
One study by insurance company The Zebra found that Americans have had their longest-owned cars for an average of around eight years. That number has held steady for the past couple of years, but it's just the amount of time someone has owned a car. The average age of vehicles themselves keeps rising.
Considering that some of these are bought used, the average age of cars and light trucks in operation in the U.S. is even higher — 12.8 years, according to S&P Global Mobility, as per Money Geek. That's part of an ever-upward trend. Two decades ago, the average was 9.7 years, and recently it was 12.5.
As The Zebra pointed out, someone who drives the average amount of miles for an American would be able to make a typical car last around 14 years or 21 years for an electric vehicle.
How Much Americans Are Paying for Vehicles
While older cars can have more maintenance costs, those could still be less than making new car payments or buying a new car outright. On average, a new car buyer paid $49,191 for a vehicle in January 2026, according to the latest Kelly Blue Book (KBB) data. While that's down 2.2% from the end of 2025, it's still relatively high, considering that pre-pandemic, new cars were selling on average for less than $40,000.
For used cars, KBB reports an average price in January 2026 of $25,533: down from $26,120 in December and a comparative $26,091 in November of 2023.
Altogether, Americans face competing factors when it comes to car ownership. While some people may want to buy cars if factors like supply, prices and interest rates improve, many people have cars that are less than five years old, so there could be plenty of miles left on those vehicles.
Editor’s note: Pricing and availability may vary. Prices are accurate as of March 13, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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