While short-term leasing became popular during the post-recession years, vehicle owners are holding onto their rides for longer periods than ever. Americans now reportedly keep their cars, trucks and SUVs for an average of around eight years according to TheZebra.com, with the typical model on the road having been driven for 12.5 years. Affordability – actually the lack of it – is a key factor here, with Kelley Blue Book reporting the average transaction price for a new model, though down a bit this year, still approaches a whopping $48,400.
But as we all know, some cars last longer without saddling their owners with chronic repair bills and age more gracefully than others, which helps make long-term vehicular relationships more amenable for several years past their final car-loan payments.
Which models do motorists hold onto most tenaciously? A study conducted by the online marketplace iSeeCars.com determined which ones have the highest percentage of original buyers who keep them for 15 years or longer, reflecting a high degree of satisfaction with regard to quality, reliability and ownership costs.
The site’s statisticians found that the “most loved” vehicles in this regard come from Toyota, Honda, Lexus, Mazda, Hyundai and Subaru. Perhaps surprisingly, several of the top-rated vehicles are hybrid-powered, which indicates a high-level of consumer satisfaction with gas/electric models that their current sales boom reflects. The results are based on an examination of more than 929,000 vehicles from model years 1981-2009 that changed hands during the first nine months of the year.
“Ongoing improvements in vehicle design, engineering, and build quality contribute to improving durability and lower maintenance costs in modern cars,” says iSeeCars Executive Analyst Karl Brauer. “Consumers can take advantage of these trends by keeping cars longer and leveraging their growing lifespan.”
Topping the list of the models held onto for a decade-and-a-half or longer is the Toyota Highlander Hybrid, which owners keep for nearly twice as long as the average vehicle in the U.S. In fact Toyotas account for seven of the 13 top-ranked models in this regard – eight including the single model coming from its Lexus division. The Lexus IS 350 is also the only luxury car represented among the longest-kept rides, though this is more likely due to the fact that a higher percentage of upscale models are leased, rather than purchased outright, and affluent owners can afford to swap their current vehicles for new ones more frequently.
Looking at the most-popular vehicle segment, both the hybrid and conventionally-powered versions of the Toyota Highlander top the list of the longest-owned SUVs, followed by the Honda CR-V, Ford Escape Hybrid, Toyota RAV4, Subaru Forester, Toyota Venza and Honda Pilot. Of note, all are car-based crossovers, which tend to deliver the goods in terms of practicality, drivability and fuel economy, which makes them easier for many to live with for longer periods than larger and less-efficient truck-underpinned versions.
Speaking of trucks, the longest-distance runners among pickups, determined by iSeeCars, are the full-size Toyota Tundra and the midsize Toyota Tacoma, Honda Ridgeline and Nissan Frontier. Midsize trucks tend to be used more for recreational and lifestyle purposes and worked less strenuously than heavy haulers from the domestic brands, including the top-selling Ford F-150, Chevrolet Silverado 1500 and Ram 1500.
Here is iSeeCars.com’s list of the vehicles most frequently held for 15 or more years and the percentages of original owners who just can’t bear to part with them:
- Toyota Highlander Hybrid (7.0%)
- Toyota Camry Hybrid (6.9%)
- Toyota Highlander (6.6%)
- Toyota Tacoma (6.4%)
- Toyota Prius (6.3%)
- Honda CR-V (6.3%)
- Ford Escape Hybrid (6.3%)
- Toyota RAV4 (6.2%)
- Lexus IS 350 (5.8%)
- Nissan Versa (5.7%)
- Toyota Tundra (5.5%)
- Honda Ridgeline (5.5%)
- Subaru Forester (5.5%)
The full report can be found here.
