Cars The Average Length of Car Ownership
It's estimated that there are over 242 million licensed drivers in the U.S., [1] ConsumerAffairs. Number of Drivers in the U.S. https://www.consumeraffairs.com/automotive/number-of-drivers-in-us.html but how long do motorists actually keep their car?
The average vehicle on U.S. roads was 12.8 years old in 2025, a figure that spans multiple owners over a vehicle's lifetime. [2] S&P Global Mobility. U.S. Vehicle Age Rises Again to 12.8 Years in 2025, According to S&P Global Mobility. https://press.spglobal.com/2025-05-21-U-S-Vehicle-Age-Rises-Again-to-12-8-Years-in-2025,-According-to-S-P-Global-Mobility Individual ownership tells a different story. A 2026 survey on behalf of Self Financial asked 1,033 people across the U.S. to find out exactly how long people keep their cars, what is forcing them to hold on longer, and what it would take to finally make them replace.
Key statistics
- Over half (58.9%) of respondents kept their previous vehicle for between three and six years, with five to six years the single most common tenure.
- 42% have owned their current vehicle for three to four years, with two-thirds within the four-year mark.
- More than seven in ten (70.5%) have delayed replacing their vehicle in the last three years for financial reasons, most commonly rising vehicle prices (30.4%), high insurance costs (24.9%) and high interest rates (16.1%).
- Lower-income respondents (earning under $30,000 per year) were more than six times as likely to have owned their current vehicle for less than a year compared to those earning over $100,000.
- A major repair bill (26.8%) or reliability issues (18.4%) are the most likely triggers for replacement.
- Nearly half (47.1%) say they would replace their vehicle every two to three years if money were no object.
- Of non-drivers, vehicle purchase prices are the single biggest barrier to ownership at 38.4%, yet over a third (35.1%) still expect to own a vehicle within five years.
How long do people own their cars?
When asking respondents how long they keep their car, almost a third (29.6%) of those who have owned more than one vehicle said that they owned their last vehicle for five to six years. While a further 29.3% owned their previous vehicle for three to four years, meaning that over half (58.9%) kept their vehicle for between three and six years.
| Duration respondents owned their last vehicle for | |
|---|---|
| Number of years (range) | Percentage of respondents (%) |
| Less than 1 year | 5.8% |
| 1–2 years | 19.7% |
| 3–4 years | 29.3% |
| 5–6 years | 29.6% |
| 7–8 years | 10.9% |
| 9–10 years | 3.1% |
| More than 10 years | 1.6% |
Nearly one in ten who answered (9.1%) are currently driving their first vehicle and weren’t included in the above table.
Looking at vehicles people own today, 42% of respondents have owned their current primary vehicle for three to four years, suggesting many are approaching the point at which they previously traded in. Almost a quarter (24.3%) have owned their current vehicle for one to two years, signifying they are still in the early stages of ownership. Combined with the 42% at three to four years, that means roughly two-thirds of current owners are within the four-year mark.
Average length of car ownership by demographic
The survey results show that both income and age are associated with variation in how long respondents keep their cars, with those at different ends of each spectrum showing different ownership patterns.
Car ownership by income
Those with the lowest personal annual incomes (under $30,000) were the most likely to have owned their current vehicle for less than a year, with almost a third (31.9%) yet to reach that one-year milestone. The gap between income groups is stark, just 5.3% of those earning over $100,000 fell into the same bracket, making lower-income respondents more than six times as likely to be within their first year of ownership.
According to the Bureau of Transportation Statistics, the lowest-income households in the U.S. spent nearly 30% of their pre-tax income on all forms of transportation in 2023, compared to just 12% for the highest earners, a figure that encompasses all travel costs including public transport and fuel. [3] Bureau of Transportation Statistics. Household Cost of Transportation: Is It Affordable? https://www.bts.gov/data-spotlight/household-cost-transportation-it-affordable Lower-income households navigate the car market more frequently because their grasp on car ownership is more precarious, with nearly half (48.9%) experiencing financial hardship related to car ownership, operation, and maintenance. [4] Helveston, J. P., et al. Vehicle Longevity in the United States: Updated Vehicle Survival and Scrappage Estimates Through 2022. Transportation Research Interdisciplinary Perspectives. https://www.sciencedirect.com/science/article/pii/S2590198223000349 These figures show how the car and transportation costs can vary by income bracket with those on a lower income likely to be affected the most.
Across other income groups, the three to four year ownership window dominates, with $50,000-$74,999 (49%) and $75,000-$99,999 (48%) showing the strongest concentration there. Those earning $30,000-$49,999 lean toward shorter ownership, with 45% in the 1-2 year bracket, while higher earners show more spread into longer ownership, with 31.6% of those earning over $100,000 having owned their current vehicle for five to six years.
| How long have respondents had their car by income group | ||||||
|---|---|---|---|---|---|---|
| How long have you owned your current primary vehicle? | Under $30,000 | $30,000–$49,999 | $50,000–$74,999 | $75,000–$99,999 | $100,000 or more | Total |
| Less than 1 year | Under $30,000 31.9% | $30,000–$49,999 3.1% | $50,000–$74,999 1.7% | $75,000–$99,999 3.6% | $100,000 or more 5.3% | Total 5.5% |
| 1–2 years | Under $30,000 13.0% | $30,000–$49,999 45.0% | $50,000–$74,999 19.8% | $75,000–$99,999 18.6% | $100,000 or more 13.2% | Total 24.3% |
| 3–4 years | Under $30,000 24.6% | $30,000–$49,999 32.5% | $50,000–$74,999 49.0% | $75,000–$99,999 47.9% | $100,000 or more 36.8% | Total 42.0% |
| 5–6 years | Under $30,000 23.2% | $30,000–$49,999 13.1% | $50,000–$74,999 17.5% | $75,000–$99,999 23.6% | $100,000 or more 31.6% | Total 19.0% |
| 7–8 years | Under $30,000 2.9% | $30,000–$49,999 3.8% | $50,000–$74,999 9.7% | $75,000–$99,999 5.7% | $100,000 or more 10.5% | Total 7.0% |
| 9–10 years | Under $30,000 1.5% | $30,000–$49,999 0% | $50,000–$74,999 0.7% | $75,000–$99,999 0.7% | $100,000 or more 0% | Total 0.6% |
| More than 10 years | Under $30,000 2.9% | $30,000–$49,999 2.5% | $50,000–$74,999 1.7% | $75,000–$99,999 0% | $100,000 or more 2.6% | Total 1.7% |
Car ownership by age
The most notable shift comes among 45-60 year olds, where the data paints a picture of significantly more settled ownership. Over a third (37.5%) have owned their current vehicle for five to six years, while 16.7% have held theirs for seven to eight years, the highest proportion recording that tenure of any age group surveyed. Combined, more than half of this age group have owned their current vehicle for five years or more, suggesting that by middle age, respondents are far less likely to be cycling through vehicles and more likely to be holding onto what they have, whether by choice or necessity.
The cars people are currently driving
Beyond how long respondents have owned their vehicles, the survey also captured a broader picture of the cars themselves, from how old they were when acquired to how they are financed and what respondents paid.
Types of cars
Sedans and hatchbacks are the most common vehicle type among respondents at 39.4%, followed by pickup trucks (22.6%), minivans (19.7%), vans (6.2%), sports cars (5.1%) and other vehicle types (6.9%).
Minivans show the longest current ownership tenure among respondents, with over a third (36%) having owned their current vehicle for five to six years. Pickup truck owners are the earliest into their current ownership cycle, with 37.7% in the one-to-two-year bracket, while sedan and hatchback owners are the most likely to be in the very early stages, with 10.4% having owned their current car for less than a year.
Around two in five (41.1%) of respondents financed their car with an auto loan, while 34.6% own their car outright, 11.6% lease, 7.7% drive a company vehicle, and 5% state that they used another way to finance their car.
Cars by fuel type
Gas vehicles remain the most common among respondents at 61.7%, though the picture is shifting, with hybrids accounting for a significant 33.3% of respondents’ current vehicles and EVs representing 5%.
When it comes to longevity, fuel type can play a meaningful role. EVs may last as long as or longer than gas-powered vehicles due to having fewer mechanical components that can wear out, with batteries expected to last between 15 and 20 years. [5] Kelley Blue Book. “How Long Do Electric Cars Last?” https://www.kbb.com/car-advice/how-long-do-electric-cars-last/
Age of cars on the road
Nearly half of respondents (44.7%) acquired their current vehicle when it was three to five years old, while 37.6% bought either brand new or within the first two years of the model year. Just 10.8% acquired a vehicle more than six years old, suggesting most respondents are driving relatively recent models despite the financial pressures explored elsewhere in this piece.
The mileage on current cars
The majority of respondents (42.4%) have between 50,000 and 99,999 miles on their current vehicle, with a further 28.5% sitting in the 25,000-49,999 range. Combined, over seven in ten (70.9%) have under 100,000 miles on their current vehicle. A smaller but notable 11.8% have exceeded 100,000 miles, with 3.8% surpassing 150,000.
The most common annual mileage bracket among respondents is 10,000-14,999 miles at 32.2%, with a further 22.1% driving between 5,000 and 7,499 miles annually. For context, Kelley Blue Book calculated - using FHWA roadway data divided by the number of licensed drivers - that the national average sits at approximately 12,200 miles per year, noting that higher mileage directly accelerates vehicle depreciation and can increase insurance premiums. [6] Kelley Blue Book. Average Miles Driven Per Year. https://www.kbb.com/car-advice/average-miles-driven-per-year/ Only a small proportion of respondents drive heavily, with 2.7% covering 20,000 miles or more per year.
Seven in ten people are delaying buying a car
More than seven in ten respondents who can drive (70.5%) have delayed replacing their vehicle in the last three years for financial reasons, most commonly because of rising vehicle prices, cited by nearly a third (30.4%) of those who delayed.
Over half (55.9%) have been delaying for over a year
Of those who have delayed purchasing a car, over half of respondents (55.9%) have been delaying for over a year, with 43.2% of them delaying a new car for one to two years, 9.8% for two to three years, and 2.9% for over three years.
Over a third of those respondents (38.1%) have delayed between six and 12 months, while just 6.1% have delayed for less than six months.
| How long respondents delayed buying a new car | |
|---|---|
| Number of years (range) | Percentage of respondents (%) |
| Less than six months | 6.1% |
| 6-12 months | 38.1% |
| 1-2 years | 43.2% |
| 2-3 years | 9.8% |
| More than three years | 2.9% |
Reasons for delaying a car purchase
Of those who have delayed, rising vehicle prices (30.4%) was the biggest barrier to buying a replacement car. High insurance costs were the second most cited barrier at 24.9%, followed by high interest rates on auto loans at 16.1%. Combined, rising prices, insurance costs, and interest rates account for nearly three-quarters (71.4%) of all delay reasons, painting a picture of an affordability crisis squeezing drivers from multiple directions. A smaller but notable share are taking a wait-and-see approach, with 9.7% holding on until their current vehicle is no longer reliable and 5.8% simply trying to see how long their current car will last.
| Main reason for delaying buying a new car | |
|---|---|
| Reason for delaying | Percentage of respondents (%) |
| Rising vehicle prices | 30.4% |
| High insurance costs | 24.9% |
| High interest rates on auto loans | 16.1% |
| Waiting until current vehicle is no longer reliable | 9.7% |
| Trying to see how long current vehicle will last | 5.8% |
| Saving for a down payment | 5.4% |
| Waiting for a specific vehicle model or feature | 3.2% |
| Working to improve credit score or qualify for better financing | 2.0% |
| Concerns about the economy or job security | 1.4% |
| Other | 0.6% |
Data note: Percentages are of respondents who confirmed they had delayed purchasing a vehicle for financial reasons.
With costs being the main reasoning behind delaying a new purchase, many drivers may start looking at ways to bring costs down. Our recent study found that the average annual cost to run the most popular electric vehicle in the U.S. is $3,934, compared to $4,007 for the most popular gas car, including insurance, taxes, fuel, and maintenance.
Half of delayed buyers (50.3%) have spent more on maintenance, with 47.7% racking up unwanted mileage
For those who have delayed, the consequences extend beyond simply waiting longer, respondents who have delayed their next car purchase selected from a checklist of what they have done as a result. Half (50.3%) have increased their maintenance spending as a direct result, while 47.7% are continuing to drive a higher-mileage vehicle than they had planned. Over two in five (42.1%) have paid for repairs they would rather not have made. All of the previously mentioned results of delaying a car purchase remains costly, with higher mileage meaning depreciation of the vehicle; in fact, it could decrease car value by approximately $0.08 a mile, though depreciation is more commonly measured in years rather than miles. [7] Direct Car Buying. What Mileage Does a Car's Value Start to Depreciate? https://www.directcarbuying.com/blog/what-mileage-does-a-cars-value-start-to-depreciate
In 2022, a previous study on behalf of Self Financial, which calculated the cost of owning and operating a Ford F-150 across 50 U.S. cities, found car costs per mile ranging from $2.56 to $2.79 depending on location, highlighting the price of racking up mileage on a vehicle.
Nearly a third (29%) have missed out on newer safety features. Almost a quarter (24.3%) are still making payments on a vehicle they intended to replace, and 22.3% have foregone a more fuel-efficient model.
| Results of delaying buying another car | |
|---|---|
| Result of delaying buying another car | Percentage of respondents (%) |
| Increased maintenance spending | 50.3% |
| Continued driving a higher-mileage vehicle | 47.7% |
| Paid for repairs they would rather have not | 42.1% |
| Delayed upgrading to newer safety features: | 29.0% |
| Continued making payments on existing vehicle | 24.3% |
| Delayed upgrading to a more fuel efficient vehicle | 22.3% |
| Nothing significant | 4.0% |
| Other | 1.2% |
Data note: Respondents could choose more than one answer.
What would make respondents replace their current car?
The survey results show that when it comes to replacing their car, what respondents expect to do and what they would do given the choice are two different stories.
When it comes to replacing their car, a major repair bill is the most likely trigger for respondents at 26.8%, followed by reliability issues at 18.4%, meaning nearly half would replace primarily because their vehicle had become too costly or unreliable to keep. A further 15.3% say better affordability would be the deciding factor, highlighting that for many, the barrier is financial rather than mechanical.
The gap between expectation and preference is significant with most respondents (39.4%) expecting to keep their current vehicle for another three to four years, yet nearly half (47.1%) say they would replace every two to three years if money were no object, suggesting financial constraints are keeping many drivers in cars longer than they would choose.
| Main reason that would lead to replacing their current car | |
|---|---|
| Reason for replacing | Percentage of respondents (%) |
| Major repair bill | 26.8% |
| Reliability issues | 18.4% |
| Better affordability | 15.3% |
| Better financing rates | 9.9% |
| Fuel savings | 8.9% |
| New technology/features | 6.8% |
| Lifestyle change | 6.7% |
| Safety features | 4.4% |
| Other | 2.7% |
Half of non-drivers rely on public transport
Of those surveyed, 31.8% do not currently own or lease a vehicle. The main reason given is reliance on public transportation at 50%, followed by simply not needing a vehicle where they live (18%). A smaller proportion say they cannot afford one (9.1%), do not have a license (3.7%), or prefer walking or cycling (5.8%).
Vehicle purchase prices are the single biggest barrier to ownership at 38.4%. To put that into context, among the survey's current vehicle owners, the average purchase price paid for their current car was approximately $22,900, a significant outlay that helps illustrate why cost remains such a big obstacle for non-drivers.
Despite this, over a third (35.1%) expect to own or lease a vehicle within the next five years, while 29.6% are unsure and 35.1% say they do not expect to own one. Of those planning to buy, nearly half (45.7%) would opt for a hybrid, suggesting that when non-drivers do enter the market, they are more open to electrification than current owners.
Methodology
A survey was carried out on behalf of Self Financial in May, 2026 which asked 1,033 U.S. adults about vehicle ownership, replacement habits, maintenance, financing, and purchasing decisions. The survey captured a cross-section of respondents by age, employment status, credit score, and vehicle ownership status.
The demographics as provided by participating respondents were:
Gender:
- Female: 74.8%
- Male: 25.0%
- Non-Binary: 0.1%
- Transgender: 0.1%
Age:
- 18–28: 15.3%
- 29–44: 69.2%
- 45–60: 12.6%
- 61–79: 2.7%
- 80+: 0.2%
Employment status:
- Employed full-time: 71.7%
- Employed part-time: 6.1%
- Self-employed: 6.3%
- Student: 11.2%
- Unemployed: 4.7%
Current FICO credit score range:
- Below 580 (Poor): 2.7%
- 580–669 (Fair): 19.4%
- 670–739 (Good): 47.2%
- 740–799 (Very Good): 19.6%
- 800–850 (Excellent): 3.9%
- Those that are unsure: 7.3%
Sources
- [1] ConsumerAffairs. Number of Drivers in the U.S. https://www.consumeraffairs.com/automotive/number-of-drivers-in-us.html
- [2] S&P Global Mobility. U.S. Vehicle Age Rises Again to 12.8 Years in 2025, According to S&P Global Mobility. https://press.spglobal.com/2025-05-21-U-S-Vehicle-Age-Rises-Again-to-12-8-Years-in-2025,-According-to-S-P-Global-Mobility
- [3] Bureau of Transportation Statistics. Household Cost of Transportation: Is It Affordable? https://www.bts.gov/data-spotlight/household-cost-transportation-it-affordable
- [4] Helveston, J. P., et al. Vehicle Longevity in the United States: Updated Vehicle Survival and Scrappage Estimates Through 2022. Transportation Research Interdisciplinary Perspectives. https://www.sciencedirect.com/science/article/pii/S2590198223000349
- [5] Kelley Blue Book. “How Long Do Electric Cars Last?” https://www.kbb.com/car-advice/how-long-do-electric-cars-last/
- [6] Kelley Blue Book. Average Miles Driven Per Year. https://www.kbb.com/car-advice/average-miles-driven-per-year/
- [7] Direct Car Buying. What Mileage Does a Car's Value Start to Depreciate? https://www.directcarbuying.com/blog/what-mileage-does-a-cars-value-start-to-depreciate
